Bank of Maharashtra Conducts strategic meets in Bengaluru
Bengaluru: Bank of Maharashtra a premier public sector bank in the country, is making strategic meets with various key departments and stakeholders of Karnataka state, to leverage its services through its wide network of Branches in the state. Executive Director Shri. A.B.Vijayakumar, Bank of Maharashtra led the strategic meets with Top Government Officials of the state spearheading various key departments. Shri.Y Srinivas, Zonal Manager &Deputy General Manager, Bank of Maharashtra, Bengaluru Zone along with Bank’s team were also part of the meet.
Later, the Bank organised Financial Inclusion Outreach program in Bengaluru to mobilize applications as well as foster financial outreach amongst the unserved and underserved. This event was in line with the activities planned forAKAM(AzadiKaAmritMahotsav) anchor Month. Shri. A.B.Vijayakumar, Executive Director, Bank of Maharashtra presided over the program.
115 Sanction letters of SHG, Mudra, PMSVANidhi were distributed amongst the borrowers. Shri.A.B.Vijayakumar guided the customers on various Govt. schemes, Mudra, SUI, PMJJBY, PMSBY etc. and responded to their queries and doubts. He further explained the benefits of\ digital transactions especially, under PMSVANidhi through which the digitally active vendors could avail the incentive benefit of upto Rs. 1200/year.
Shri Vijayakumar said, “The Financial Inclusion outreach initiative underscores our institution’s unwavering commitment to societal well-being and economic advancement across diverse strata. This concerted effort seeks to foster an environment of equity, resilience, and prosperity. The outcomes of this program thus far have been commendable, motivating us to replicate such outreach programs in various other centres.”
Shri. Vijayakumar shared the performance of the Bank in the recently declared Q1- results, “Bank of Maharashtra has crossed the milestone Rs. 4.20 Trillion business figures in Q1 FY- 24, which indeed is truly noteworthy in Bank’s journey. This historic milestone has been supported thoroughly by Bank’s expansion of footprints across the country and transformation, driven through digitization measures. The Bank has been continuously emerging as the top performing Bank in terms of business growth in FY-21, FY-22 and FY- 23 among the PSBs and the Bank has maintained the momentum in Q1-FY -24 as well with stellar growth of 25% in total business. In terms of asset quality, bank has the lowest GNPA and NNPA at 2.28% & 0.24% respectively, with Banks CD Ratio at 72%. Introduction of various Technology driven asset-monitoring tools has helped bank in scrupulous monitoring of assets. Bank’s Branch network has crossed 2263 and the CASA base is finest among the PSBs indicating Bank’s premium customer service. Bank is riding on very good asset quality with lowest NPA amongst PSBs. Bank’s Provision Coverage Ratio has reached at 98.37%.
Shri Vijayakumar, Executive Director, BoM, on the opportunities in Karnataka state stated, “Karnataka being one of the major contributor of the Indian GDP remains in the forefront in our business expansion plan and we shall constantly leverage our Business opportunities here while catering best services to the people of the state. Bank of Maharashtra has a total presence of 74branches in the state and the Bank is planning to open more Branches to strengthen the branch network across the State. We are thankful to the policymakers of the state who are ready to proactively engage with us and giving us the opportunity for serving the people of the state. Bank on its endeavour is adopting various digitization measures to give service to Government. We have tailored our services for our Institutional Customers including Central and State Govt. Departments across country, driven on the back of technology and dedicated cell to cater to their needs.”
Thereafter, Shri. Vijayakumar interacted with all the staffs of the Zone where, he harped upon important business parameters, including Financial Inclusion Products. Staff members candidly shared their experiences, learnings, feedbacks and their suggestions to further strengthen the existing systems and processes.
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Illegally stored gas cylinders seized
Thane (PTI): Authorities have seized illegally stored 1,839 gas cylinders and seven vehicles worth over Rs 67 lakh in the Dombivli MIDC area of Thane district, officials said on Saturday.
A special vigilance team of the Mumbai Rationing Department detected an illegal storage of domestic and commercial LPG cylinders in Phase-2 of Dombivli (East).
Cylinders belonging to multiple gas agencies were found stockpiled in closed vehicles, unauthorised warehouses, and open sheds without mandatory permissions from the Explosives Department, Fire Department, or oil companies, according to an official release.
