As per the analysis, gross NPAs reported by BoM and SBI were 3.40 per cent and 3.52 per cent of their total advances, respectively, in the second quarter.
The lender is offering housing loans and car loans at an interest rate starting from 6.90 per cent and 7.30 per cent respectively, a release said.
Under the partnership, Vayana Network will provide its unique SCF solutions to Bank of Maharashtra supported by Vayana’s technology and service expertise. The SCF solutions will include vendor and dealer financing programs across bank’s network of 1,870+ branches across the country
State-owned Bank of Maharashtra has reduced its repo linked lending rate (RLLR) by 15 basis points to 6.90 per cent. The lender's retail and MSME loans are linked to RLLR. The new rates are effective from November 7.
State-owned Bank of Maharashtra on Thursday reported 24.69 per cent jump in net profit at Rs 101 crore for June quarter 2020-21 helped by healthy interest income and lower operating cost.
State-owned Bank of Maharashtra on Sunday said it has sanctioned loans worth Rs 2,789 crore to MSME, self-help group, agricultural and retail borrowers to help them meet their liquidity mismatches caused due to coronavirus crisis.
State-run Bank of Maharashtra posted a standalone net profit of Rs135.3cr in the quarter ended December 2019 as against a net loss of Rs3,764.3cr during the quarter ended December 2018. On a quarter-on-quarter basis, the lender had reported a net profit of Rs 115 crore.
Amid ongoing Punjab and Maharashtra Bank (PMC) crisis, rumours on the poor financial health of Bank of Maharashtra has been spreading on WhatsApp. Following which, BoM filed a complaint with Pune police and cyber cell against the circulation of fake news and spreading of rumours on news site and other social media platforms. Bank also issued an important message for its customers.
Bank of Maharashtra on Tuesday said it has lodged a complaint with Pune police and cyber cell against the circulation of fake news and spreading of rumours about its financial health on WhatsApp, a news site and other social media platforms.
About half a dozen public sector banks, including Bank of India, Oriental Bank of Commerce and Bank of Maharashtra, have reduced lending rates by up to 25 basis points following a cut in the key policy repo rate by the RBI last month.
The benchmark one-year marginal cost of funds based lending rate (MCLR) will now be priced at 8.40 per cent with effect from October 8, 2019, the bank said in a regulatory filing.
According to the investigating officer of Karmala Police Station Shrikant Padule, the incident took place around 11 am when business at the bank was in full swing.
The decision was taken at the bank's annual general meeting held on June 27, 2019.
According to the RBI, the fine was imposed by an order dated January 4, 2019 "for non-compliance with 'Master Directions on Frauds-Classification and Reporting.
All the branches were in urban centres and have been identified for the action as they were declared nonviable and were incurring huge losses, said the official of the Pune-headquartered bank.
They have been arrested for allegedly misusing the powers to sanction huge amounts of loans to shell companies.
Mumbai: State-run Bank of Maharashtra on Friday trimmed its base rate by 25 basis points to 10 per cent, effective Monday, following its larger peers, which will bring down the cost of home, car and
New Delhi: Public sector lender Bank of Maharashtra will raise up to Rs 1,000 crore by issuing Basel III-compliant Tier-I bonds.The tier-I bonds to be issued by the bank comes with a green shoe option
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