A Review On Bank of Maharashtra

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Bank of Maharashtra

Bank of Maharashtra is a major public sector bank in India. The Government of India holds 87.74% of the shares.The bank had 15 million customers across the country with 1,897 branches as of 5 April 2016. It had the largest network of branches of any public sector bank in the state of Maharashtra

History:

The bank was founded by V. G. Kale and D. K. Sathe in Pune, India.
The bank was registered on 16 September 1935 with an authorized capital of US$1 million and became operational on 8 February 1936. It provided financial assistance to small business and gave birth to many industrial houses. After nationalization in 1969, the bank expanded rapidly.[citation needed]
Narendra Singh, who assumed the office of Chairman and Managing Director from 1 February 2012, retired on 30 September 2013 and was succeeded by Sushil Muhnot and Ravindra Prabhakar Marathe respectively. A.S. Rajiv became Managing Director and CEO on 1 December 2018.