1969 - The Company was Incorporated on 19th July. The Bank is a
Government of India undertaking and carries on all types
banking business. The Bank was brought into existence
ordinance issued on 19th July, by the Central
terms of the Ordinance, the undertaking of `The Bank of
Maharashtra Ltd.' was transferred to and vested in the
The ordinance was replaced by the Banking companies
and Transfer of Undertakings) Act, 1969. The Act was
null and void by the Supreme Court on 10th February,
Ordinance was thereupon promulgated which was latter
the Banking Companies (Acquisition and Transfer of
Act, 1970 which was made effective retrospectively from
- Under the `Lead Bank Scheme' the Bank was allotted 5
of Maharashtra, viz. Pune, Satara, Nasik, Aurangabad
with Central Bank of India) and Thane. Surveys were
in these districts for the identification of growth
1970 - The Bank opened 39 branches in these five `Lead Bank'
out of the total of 47 branches opened. The Bank
follow the scheme in the subsequent years and another
was allotted to it.
1976 - In August, the Bank sponsored a regional rural bank under the
name `The Marathwada Gramin Bank Ltd.,' Nanded.
1980 - Rs.81,30,725 capitalised from Reserve Fund.
1982 - One more Regional Rural Bank was sponsored on 7th December,
the name Aurangabad-Jalna Gramin Bank Ltd. In the
years, another RRB under the Thane Gramin Bank was
the Bank. These three RRBs together had 312 branches as
end of March 1994.
1984 - Rs.12 lakhs contribution by Government.
1985 - Rs.1,308 lakhs contributed by Government.
1986 - Rs.800 lakhs contributed by Government.
1988 - Rs.2,100 lakhs contributed by Government.
1991 - Rs.10,500 lakhs contributed by Government.
1992 - Rs.3,500 lakhs contributed by Government.
1993 - Rs.15,000 lakhs contributed by Government.
1996 - The bank opened two extension counters at Gogal (Goa) and
(Ratnagiri) during the year.
- The bank introduced a new motivational scheme titled The
Best Colleague Scheme)
to encourage, recognise and motivate sincere,
meritorious and helpful staff members.
- The Bank launched a major computerisation programme with
the basic objective of
making use of the latest developments in information
technology towards betterment
of customer service and improvement in housekeeping.
- Shri. V. Leeladhar, has been appointed as the Executive
Director of the Bank vide the
Government of India, Ministry of Finance, Department of
1999 - The bank introduced its telebanking service, which is the
of its kind by any of the nationalised bank in the
- The bank has also set up a core credit monitoring cell at
headquarters in Pune to continuously assess the
report of borrowers (above Rs. 25 lakhs), which would
provided by regional and zonal centres.
2000 - Bank of Maharashtra (BoM) is launching its new cash
- The Export Import Bank of India (Exim Bank) is slated to
Memorandum of Understanding (MoU) with Bank of
on February 28 for providing advisory services on export
- BoM launched its information technology training
first of its kind in banking industry in the country.
- Sukomal Chandra Basu has succeeded Madan Mohan Vaish as
and Managing Director of the Company.
- Bank of Maharashtra (BoM), a public sector (PSU) bank, has
formed an equal joint
venture with Magic Software, an Israeli software
developer and its Indian subsidiary.
-Comes out with Rs 230 crore public issue of equity shares
(100,000,000 equity shares of Rs 23 each), issue oversubscribed 10.5
-Bajaj Auto and Bank of Maharashtra (BoM) have signed a strategic
alliance to offer two-wheeler loans in India.
-Bank of Maharashtra has informed that Mrs. Lila F Poonawalla,
Director resigned from the Directorship of the Bank and she stands
relieved from her Directorship with effect from August 01, 2005
-Bank of Maharashtra ties up with United Insurance Company
- Bank of Maharashtra and Life Insurance Corporation of India have
together unveiled two products, Maha Suraksha Deposit Scheme and
MahaGrih Suraksha scheme.
- Bank of Maharashtra has informed that in terms of guidelines of the
RBI vide letter dated December 01, 2008, the Bank has appointed
following five Chartered Accountants firms as Statutory Central
Auditors (SCAs) of the Bank for the year 2008-09.
1. M/s. C R Sagdeo & Co., Nagpur
2. M/s. Shah Baheti Chandak & Co., Nagpur
3. M/s. Wahi & Gupta, New Delhi
4. M/s. V C Gautam & Co., New Delhi
5. M/s. B Chhaawchharia & Co., Kolkata
The appointment M/s. B Chhawchharia & Co., Kolkata is made in place
of M/s. S K Mehta & Co., whose term was completed. The other auditors
are reappointed for continuing as SCAs for the year 2008-09.