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Bank of Maharashtra

BSE Code : 532525 | NSE Symbol : MAHABANK | ISIN:INE457A01014| SECTOR : Banks |

NSE BSE
 
SMC up arrow

17.55

0.35 (2.03%) Volume 2089023

27-Sep-2022 EOD

Prev. Close

17.20

Open Price

17.35

Bid Price (QTY)

17.55(14081)

Offer Price (QTY)

0.00(0)

 

Today’s High/Low 17.85 - 17.35

52 wk High/Low 22.85 - 15.00

Key Stats

MARKET CAP (RS CR) 11778.37
P/E 8.45
BOOK VALUE (RS) 18.9581866
DIV (%) 5
MARKET LOT 1
EPS (TTM) 2.07
PRICE/BOOK 0.92308406754473
DIV YIELD.(%) 2.86
FACE VALUE (RS) 10
DELIVERABLES (%) 50.14
4

News & Announcements

22-Sep-2022

Bank of Maharashtra - Compliance-57 (4) : Prior intimation to the beginning of the quarter

09-Sep-2022

Bank of Maharashtra soars 0.8%, gains for fifth straight session

08-Sep-2022

Bank of Maharashtra raises Rs 710 cr via Tier I bonds

22-Aug-2022

Bank of Maharashtra - Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate

08-Sep-2022

Bank of Maharashtra raises Rs 710 cr via Tier I bonds

18-Aug-2022

Bank of Maharashtra receives revision in credit ratings

12-Aug-2022

Bank of Maharashtra approves early redemption of Tier II Bonds of Rs 500cr

12-Jul-2022

Bank of Maharashtra to conduct board meeting

Corporate Actions

Bonus
Splits
Dividends
Rights
Capital Structure
Book Closure
Board Meeting
AGM
EGM
 

Financials

Income Statement

Standalone
Consolidated
 

Peers Comparsion

Select Company Name BSE Code NSE Symbol
Allahabad Bank(Merged) 532480 ALBK
Andhra Bank(Merged) 532418 ANDHRABANK
Bank of Baroda 532134 BANKBARODA
Bank of India 532149 BANKINDIA
Canara Bank 532483 CANBK
Central Bank of India 532885 CENTRALBK
Corporation Bank(Merged) 532179 CORPBANK
Dena Bank(Merged) 532121 DENABANK
Indian Bank 532814 INDIANB
Indian Overseas Bank 532388 IOB
Oriental Bank of Commerce(Merged 500315 ORIENTBANK
Punjab & Sind Bank 533295 PSB
Punjab National Bank 532461 PNB
State Bank of Bikaner and Jaipur(Merged) 501061 SBBJ
State Bank of India 500112 SBIN
State Bank of Mysore(Merged) 532200 MYSOREBANK
State Bank of Travancore(Merged) 532191 SBT
Syndicate Bank(Merged) 532276 SYNDIBANK
UCO Bank 532505 UCOBANK
Union Bank of India 532477 UNIONBANK
United Bank of India(Merged) 533171 UNITEDBNK
Vijaya Bank(Merged) 532401 VIJAYABANK

Share Holding

Category No. of shares Percentage
Total Foreign 21178126 0.31
Total Institutions 251405309 3.74
Total Govt Holding 0 0.00
Total Non Promoter Corporate Holding 18340008 0.27
Total Promoters 6122627927 90.97
Total Public & others 316945077 4.71
Total 6730496447 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About Bank of Maharashtra

Bank of Maharashtra is a public sector bank in Maharashtra, which offers personal banking, cash management, retail loans and other financial services. Their services include deposits, savings/current bank account, vehicle loans, personal loans, retail trade finance, global banking, lending to priority sector and small scale sector, foreign exchange and export finance, corporate loans and equipment loans. As on 31 March 2020, the bank's total branch network comprised of 1,833 branches spread across all the States and 4 union territories. The branch network includes specialized branches in the area of Foreign Exchange, Government business, Treasury and International Banking, Industrial Finance, MSME and Hi-tech Agriculture, Pension Payment etc. The bank's ATM network stood at 1,851 as on 31 March 2020. The Bank has one subsidiary, namely The Maharashtra Executor & Trustee Company Pvt Ltd, which undertakes management of public/ private trusts and administration/ execution of Will. They also sponsored three Regional Rural Banks, namely Aurangabad Jalna Gramin Bank, Thane Gramin Bank and Marathwada Gramin Bank with head office at Aurangabad, Thane and Nanded respectively. Bank of Maharashtra was incorporated on September 16, 1935 and started their business on February 8, 1936. In April 10, 1946, The Maharashtra Executor & Trustee Company Pvt Ltd was incorporated as a wholly owned subsidiary of the Bank. In July 1969, Bank of Maharashtra was nationalized along with 13 other banks. After nationalization, the Bank expanded rapidly. In the year 1998, the Bank attainted the autonomous status, which helped the Bank in providing more and more services with simplified procedures without intervention of Government. In the year 2000, they incorporated Magic eMoney Ltd (MeM) a joint venture of Bank of Maharashtra, Dena Bank, NextStep Infotech P. Ltd. (NSIPL) and Magic Software Enterprises (MSE) Israel continued to undertake departmental projects. During the year 2003-04, the Bank came with their initial public offer of 10 crore shares of Rs 10/- each at a premium of Rs 13/- amounting to Rs 230 crore. The issue received overwhelming response and was over subscribed by more than 11 times. Also, they opened 34 new branches and upgraded 10 extension counters into full-fledged branches during the year. During the year 2004-05, the Bank opened 14 new branches, 2 extension counters and up-graded 1 extension counter into a full-fledged branch. Also, they opened Holiday Home at Shirdi in addition to 5 existing Holiday Homes at different places. The Bank acquired a stake of 9% in Global Trade Finance Pvt Ltd, a non-banking finance company promoted by the EXIM Bank. In January 2006, the Bank signed a MoU with Life Insurance Corporation of India, for distribution of their insurance products. Also, they launched a scheme of money transfer service for Non Resident Indians and other foreign account customers, using the Western Union Money Transfer Services provided by Western Union Financial Services Inc. For this regard, the Bank has entered into agreement with Weizmann Forex Ltd, the primary agent of Western Union Financial Services Inc. During the year 2006-07, the Bank opened 29 new branches and upgraded 16 extension counters into full-fledged branches. They expanded the ATM Network from 145 ATMs to 302 ATMs during the year and entered into collaboration with VISA for issuance of Debit cards. The Bank commissioned their own Data Center at Pune and Disaster Recovery (DR) site at Hyderabad. Also, they established six IT Labs at Delhi, Kolkata, Chennai, Hyderabad, Bangalore and Lucknow in order to take care of the massive training requirement for the CBS project. The Bank launched new schemes like Mahalaxmi Term Deposit Scheme (3 years term deposit scheme), Mahadeep Scheme (Financing of Solar Water Heating System), Insta Remit Scheme (RTGS scheme for instant fund transfer), etc during the year. In May 2006, they entered into tie up with United Insurance Company Ltd for distribution of their non-life insurance products. During the year 2007-08, the Bank also launched two group insurance schemes, namely Maha Suraksha Deposit Scheme for all types of deposit account holders and Maha Grih Suraksha for home loan borrowers. Also, they entered into distribution agreement with 15 select Asset Management Companies during the year. They opened 20 new branches upgraded 10-extension counters into full-fledged branches. They also opened 3 Currency Chests during the year. In March 2008, the two Regional Rural Banks, namely Aurangabad Jalna Gramin Bank and Thane Gramin Bank were amalgamated into one unit in the name of Maharashtra Godavari Gramin Bank with head office at Aurangabad and having area of operation in nine districts of Maharashtra. As at March 31, 2008, the total branch network comprised of 1,375 branches and three extensions counters spread over 22 states and two union territories. During the financial year ended 31 March 2010, Bank of Maharashtra crossed the milestone business level of Rs 1,00,000 crore. During the year, the bank set up currency futures desk at its dealing room and started proprietary trading in MCX-SX Exchange. Straight-through-Processing (STP) of Merchant Transactions was implemented in all 28 designated Fex Centres during the year. During the year under review, Bank of Maharashtra opened 33 new branches. The bank set up three retail credit hubs one each at Pune, Mumbai and Delhi to facilitate robust and qualitative growth in retail credit with special focus on housing loans. Five Asset Recovery branches were also set up one each at Pune, Mumbai, Nagpur, Kolkata and Aurangabad to provide greater thrust to the legal and administrative measures for recovery of NPAs. The year 2009-2010 was a landmark year in the chronicle of the bank as far as technology implementation and up scaling are concerned. The bank completed the process of networking of all the 1,453 branches and bringing them under Centralized Solution on 2 February 2010, thereby achieving 100% Core Banking Solution (CBS). During the year under review, the Mobile Banking product Maha Mobile was launched offering services like balance enquiry, view last three transactions, cheque status enquiry, request for cheque book / statement of accounts, change MPIN and intra bank fund transfer up to Rs.50,000 per day. During the financial year ended 31 March 2014, Bank of Maharashtra received equity share capital amounting to Rs. 800 crore (including share premium of Rs. 622.38 crore) from Government of India (GOI) through allotment of shares on preferential basis. With capital infusion, the share holding of GOI in equity share capital increased to 85.21% as on 31 March 2014. During the year, the bank opened 162 new branches, the largest number of branches opened by the bank in a financial year since inception. The year 2013-2014 was a milestone year for the bank as far as technology implementation and up scaling is concerned. During the year, bank expanded its ATM Network from 692 ATMs to 1827 ATMs, covering nearly all the 1890 branches of the bank. The implementation of banks own ATM Switch commenced during the year and was implemented live from 8 May 2014. Bank of Maharashtra has its own Corporate Network 'MAHANET' with all Branches, Zonal Offices, Training Colleges / Centers and Head Office interconnected and working under Core Banking Platform. Its robust & secure Network Technology Architecture ensures seamless services to the customers. During the year 2013-14, the process of migration of the network to highly reliable Multi Protocol Label Switching (MPLS)-VPN (Virtual Private Network) based architecture was completed. In July 2013, Bank of Maharashtra took a novel step by forming a new department by the name 'Department of Strategic Initiatives'. The project is named 'Utkarsha' and is a business transformation programme. The bank has engaged EY as consultants for the transformation. A team of 12 officers headed by an AGM is also formed to undertake this project. Time lines and the scope of work are defined and the expected time for the project completion is 18 months. The objective of Utkarsha is to draw a strategic roadmap and align bank's operating model to emerge as a more competitive, agile and efficient player. Project 'Utkarsha' encompasses six core elements namely Branch Transformation, Centralization and Business Process Re-engineering, Sales Enablement for retail and SME loans, Alternate Channels, Human Capital and Capital Efficiency. With a view to meet the credit requirement of its customers, Bank of Maharashtra launched a new retail loan product 'Mahabank Gold Loan Scheme' with effect from 26 September 2014. In January 2015, Bank of Maharashtra launched New Gen Mobile Banking Application Maha Mobile'. During the financial year ended 31 Mach 2016, Bank of Maharashtra set up Central Processing Cells at all the 33 zones. The centralized processing is expected to improve quality of appraisal and reduce undue delays in credit delivery mechanism. In addition to GRAS (Govt. Receipts Accounting System- e-payment of taxes) through all its branches in the state of Maharashtra, the bank introduced e-SBTR (electronic Secured Bank & Treasury Receipts). In order to extend additional credit support to its standard housing loan borrowers, Bank of Maharashtra launched 'Mahabank Top Up loan Scheme' with effect from 26 February 2016. Under this scheme credit is extended for repair / renovation / furnishing of house, children's education, Marriage of Children, Medical treatment, buying a vehicle or hi-tech gadgets etc. During the year under review, Bank of Maharashtra issued 10,51,50,787 equity shares amounting to Rs 394 crore (including share premium) to Government of India (GoI) on preferential allotment basis. Consequent upon the capital raised during the year, as above, the share holding of GOI in equity share capital stood at 81.61%. During the year, Bank of Maharashtra opened 15 new branches. CBS Hardware Augmentation Project covering DC & DR was undertaken & successfully completed during the year to take care of increasing transactions load and to ensure smooth functioning of CBS system at field level. E-Gadgets implemented in a big way during the year with commissioning of Self Update Pass Book Printers, Queue Management Solution & Bunch Note Acceptor Machines at various locations across the bank. During the financial year ended 31 Mach 2017, Bank of Maharashtra introduced One Time Settlement (OTS) Schemes viz. 'Mahabank Rahat Yoiana' for NPAs with Ledger Balance up to Rs.25.00 lakhs. During the year 2016-17 another special Suo Motu OTS Scheme (Viz. 'Mahabank Karimukti Yoiana') was introduced for recovery in Regular Written Off (RWO) a/cs up to Rs 25 lakhs. The bank added two new partners namely M/s Future Generali (Non-Life Insurance Company) and M/s Cigna TTK (Standalone Health Insurance Company) under Bancassurance in the month of February 2017. During the March 2017 quarter, Government of India vide its letter dated 16 March 2017 infused Rs 300.00 crore by way of preferential allotment of equity shares and the amount was maintained under Share application money pending for allotment, till the allotment of equity shares done. However, RBI has allowed treating share application money pending for allotment as CET1 capital for computation of CRAR. The bank successfully initiated/launched various Major IT Projects during 2016-2017. During the Year 2016-17, upgrade of Contact Center Operations including Integrated Voice Response System (IVRS) was successfully done & system is made operational. The bank launched MahaUPI', its UPI mobile application from 26 August 2016. The bank started the Paper-less ATM-RePIN facility (Green PIN) for ATM Card through its ATM Machines. During the year under review, the bank launched New Internet Banking Portal for Retail Customers. Bank of Maharashtra was placed under Prompt Corrective Action (PCA) by RBI in June 2017, in view of its high net NPA. Bank therefore had prepared Monitorable Action Plan for FY 17-18 to improve its position. During the year under review, the bank introduced One Time Settlement (OTS) Schemes. 'Ghar Ghar Dastak Yojana' (GGDY) was introduced for Small NPA borrowers up to Rs 10 lakhs. MahaMukti - 2017-18 (A) and 'MahaMukti - 2017-18 (B)' schemes were introduced for NPAs having ledger balance above Rs 10 lakhs up to Rs 1 crore and ledger balance above Rs 1 crore up to Rs 25 crore respectively. The bank introduced a scheme for one time settlement of Specified NPA accounts under 'Chhatrapati Shivaji Maharaj Shetkari Sanman Yojana 2017' (CSMSSY-2017) for farmers in the State of Maharashtra as proposed by Government of Maharashtra. During FY 2017-18, the bank redeemed Basel II /Basel III Compliant Bonds for an amount of Rs 1925 crore by exercising call option. The bank undertook borrowing as part of its asset liability management. In 2017-18, the bank added two more partners in life insurance business i.e. M/s Aviva Life Insurance Company and M/s Reliance Nippon Life Insurance Company. The Government of India infused total additional capital of Rs 3173 crore Bank of Maharashtra in two tranches; Rs 650 crore on 29 December 2017 and Rs 2523 crore on 27 March 2018. As part of its endeavor to curtail its operating expenses, Bank of Maharashtra merged 51 branches during the year, which were in close vicinity of each other, ensuring that no discomfort was caused to the customers. The Year 2017-2018 was a Technology Upscaling year for the bank. CBS Contract has been renewed for a period of 5 years from 1 October 2017 to 30 September 2022 with revamped CBS Front-end and additional components viz. Automated Testing, Batch Job Automation, On-line Training for staffs, Revenue Leakage Monitoring etc. During the year under review, the bank tied up with BSNL for upgrading the Bandwidth of the existing Leased Lines to 2 Mbps. During the FY 2018-19, Bank has redeemed Basel II /Basel III Compliant Bonds for an amount Rs 200 crore on the redemption date. Bank undertook borrowing as part of its asset liability management. Bank also entered into strategic tie-ups with Tractor Manufacturers, Micro Irrigation Companies, Farm Pond Construction Company for promoting farm mechanization, micro irrigation activities and also with Govt. of Maharashtra under POCRA / SMART Project for financing to FPO during the year 2018-19. The Bank has entered into an Agreement for Credit Guarantee with Small Farmers Agri-Business Consortium (SFAC) for financing to Farmer Producer Organizations (FPOs). During the FY2020, Bank's Total Business stood at Rs 2,44,955 crore as against Rs 2,34,117 crore in 2019, showing an annual growth of 4.63%. The Bank's Total deposits stood at Rs 1,50,066 crore as compared to Rs 1,40,650 crore in the previous year, showing an annual growth of 6.69%. Gross advances of the Bank stood at Rs 94,889 crore as on 31.03.2020 in comparison to Rs 93,467 crore as on 31.03.2019. The Bank has allotted 297,09,37,912 Equity Shares of Rs 10 each of Bank to Government of India at issue price of Rs 15.14 per share on 29 April 2019 against a capital infusion of Rs 4498 crore. The Government of India infused Equity capital of Rs 831 crore in Bank on 20 April 2020. The said money is kept in the Share application money pending allotment A/c till allotment formalities are completed. With the approval of RBI, said capital is used for computation of CET-1 Ratio as on 31.03.2020. Further, the Bank also raised Tier - II capital of Rs 600 crore by issue of BASEL III Tier - II Bonds with coupon rate of 8.70% in March 2020. As on 31 March 2020, the bank had a distribution network of 1,833 branches and 1851 ATMs spread across all the States and four union territories.

Bank of Maharashtra Chairman Speech

A. S. Rajeev

Managing Director & CEO

Dear Shareholders,

I extend a very warm welcome to each one of you to the 18th Annual General Meeting of your Bank. Global and Indian economy in FY

2020-21 have been adversely affected due to COVID-19 pandemic.

Lockdowns of varied degree imposed due to pandemic resulted in adverse impacts on all sections of life. The informally employed, and those who work in contact-intensive sectors are hit hard by this pandemic. Recovery from the pandemic in various regions will depend on access to medical support, progress in vaccination drive and effectiveness of support given by the Central Bank and the

Government. The global community will require to work closely to bring the pandemic under control by increasing funding to accelerate access to vaccines. Strong Cooperation is also required to support developing countries with high debt levels for international liquidity.

FY 2020-21 was a difficult year for life and business. Gross Domestic

Product (GDP) during 2020-21 is estimated to contract by 8.0% as compared to growth of 4.0% in 2019-20. The Government announced a package of INR 20 lakh crores (equivalent of 10% of IndiaRs.s GDP) under Atmanirbhar Bharat. The package also included change in definition of MSMEs, new PSU policy, commercialization of coal mining, and higher FDI limits in various sectors. Other steps such as launch of Emergency Credit Line Guarantee Scheme (ECLGS) 2.0 and asset classification relief provided to borrowers on account of

COVID-19 were announced.

During the year, the bank has taken new business initiatives as under: l Introduction of loan products for business, agriculture and personal expenses to deal with COVID-19 pandemic inflicted cash flow difficulties. l National Common Mobility Card (NCMC) – The Bank partnered with NPCI for issuance of National Common Mobility Card (NCMC) using Near Field Communication.

l Bharat Bill Pay System (BBPS): BBPS is a one-stop ecosystem for payment of all bills providing an interoperable and accessible "Anytime Anywhere" bill payment service to all customers across India with certainty, reliability and safety of transactions. l QUICK pay: A mobile app has been developed for merchant to do self-registration for QR code to acquire transactions through Scan & Pay. l Digital Document Execution (DDE): Bank has integrated with National E-Governance Services Ltd (NeSL) for implementation of Digital Document Execution (DDE) Platform is a Web API based platform/service for e-signing and e-stamping of Loan documents. l Credit Card: Bank introduced its own Credit Card with plethora of features to tap the burgeoning digital business. l MahaBank SHG Rahat Yojana- COVID-19 was introduced immediately after foreseeing the effects of COVID-19 pandemic situation to extend relief to regular repaying SHGs by extending additional loan up to Rs. 1.00 Lakh.

Performance of your bank:

BankRs.s performance during FY 2020-21 was outstanding despite all odds. l Net Profit increased to Rs. 550 Cr in FY21 from Rs. 389 Cr in FY20. There was an annual increase of 41.39% l Operating Profit increased 39.02% to Rs. 3,958 Cr. in FY21 from

Rs. 2,847 in FY20 l Gross Non-Performing Assets (GNPA) ratio and Net Non-Performing Assets (NNPA) ratio improved to 7.23% and 2.48% respectively as on 31.03.2021 as compared to 12.81% and 4.77% respectively as on 31.03.2020 l Total Business of the bank has increased from Rs. 2,44,955 Cr. as on 31.03.2020 to Rs. 2,81,659 Cr as on 31.03.2021. Business of the Bank showcased annual growth of 14.98%. l Total deposits of the bank increased from Rs. 1,50,066 Cr. as on 31.03.2020 to Rs. 1,74,006 Cr. as on 31.03.2021. Total deposits have showcased annual growth of 15.95%. l CASA deposits have increased form Rs. 75,475 Cr as on 31.03.2020 to Rs. 93,945 Cr as on 31.03.2021 showcasing annual growth of 24.47%. l Gross advances have increased from Rs. 94,889 Cr as on 31.03.2020 to Rs. 1,07,654 Cr as on 31.03.2021. Gross Advances have shown year on year growth of 13.45%.

Way forward:

Bank is entering the new financial year 2021-22 at a time when second wave of pandemic is spreading widely. The stimulus measures and reforms initiated by the Government and liquidity measures by the RBI are expected to support industrial activity and demand. COVID-19 vaccination program launched in January 2021 will further help with economic recovery. During these difficulties, we will continue to evolve and provide latest products and Superior services to our customers. Our bank will continue to improve its business position while navigating these uncertain times.

A. S. Rajeev

Managing Director & CEO

   

Bank of Maharashtra Company History

Bank of Maharashtra is a public sector bank in Maharashtra, which offers personal banking, cash management, retail loans and other financial services. Their services include deposits, savings/current bank account, vehicle loans, personal loans, retail trade finance, global banking, lending to priority sector and small scale sector, foreign exchange and export finance, corporate loans and equipment loans. As on 31 March 2020, the bank's total branch network comprised of 1,833 branches spread across all the States and 4 union territories. The branch network includes specialized branches in the area of Foreign Exchange, Government business, Treasury and International Banking, Industrial Finance, MSME and Hi-tech Agriculture, Pension Payment etc. The bank's ATM network stood at 1,851 as on 31 March 2020. The Bank has one subsidiary, namely The Maharashtra Executor & Trustee Company Pvt Ltd, which undertakes management of public/ private trusts and administration/ execution of Will. They also sponsored three Regional Rural Banks, namely Aurangabad Jalna Gramin Bank, Thane Gramin Bank and Marathwada Gramin Bank with head office at Aurangabad, Thane and Nanded respectively. Bank of Maharashtra was incorporated on September 16, 1935 and started their business on February 8, 1936. In April 10, 1946, The Maharashtra Executor & Trustee Company Pvt Ltd was incorporated as a wholly owned subsidiary of the Bank. In July 1969, Bank of Maharashtra was nationalized along with 13 other banks. After nationalization, the Bank expanded rapidly. In the year 1998, the Bank attainted the autonomous status, which helped the Bank in providing more and more services with simplified procedures without intervention of Government. In the year 2000, they incorporated Magic eMoney Ltd (MeM) a joint venture of Bank of Maharashtra, Dena Bank, NextStep Infotech P. Ltd. (NSIPL) and Magic Software Enterprises (MSE) Israel continued to undertake departmental projects. During the year 2003-04, the Bank came with their initial public offer of 10 crore shares of Rs 10/- each at a premium of Rs 13/- amounting to Rs 230 crore. The issue received overwhelming response and was over subscribed by more than 11 times. Also, they opened 34 new branches and upgraded 10 extension counters into full-fledged branches during the year. During the year 2004-05, the Bank opened 14 new branches, 2 extension counters and up-graded 1 extension counter into a full-fledged branch. Also, they opened Holiday Home at Shirdi in addition to 5 existing Holiday Homes at different places. The Bank acquired a stake of 9% in Global Trade Finance Pvt Ltd, a non-banking finance company promoted by the EXIM Bank. In January 2006, the Bank signed a MoU with Life Insurance Corporation of India, for distribution of their insurance products. Also, they launched a scheme of money transfer service for Non Resident Indians and other foreign account customers, using the Western Union Money Transfer Services provided by Western Union Financial Services Inc. For this regard, the Bank has entered into agreement with Weizmann Forex Ltd, the primary agent of Western Union Financial Services Inc. During the year 2006-07, the Bank opened 29 new branches and upgraded 16 extension counters into full-fledged branches. They expanded the ATM Network from 145 ATMs to 302 ATMs during the year and entered into collaboration with VISA for issuance of Debit cards. The Bank commissioned their own Data Center at Pune and Disaster Recovery (DR) site at Hyderabad. Also, they established six IT Labs at Delhi, Kolkata, Chennai, Hyderabad, Bangalore and Lucknow in order to take care of the massive training requirement for the CBS project. The Bank launched new schemes like Mahalaxmi Term Deposit Scheme (3 years term deposit scheme), Mahadeep Scheme (Financing of Solar Water Heating System), Insta Remit Scheme (RTGS scheme for instant fund transfer), etc during the year. In May 2006, they entered into tie up with United Insurance Company Ltd for distribution of their non-life insurance products. During the year 2007-08, the Bank also launched two group insurance schemes, namely Maha Suraksha Deposit Scheme for all types of deposit account holders and Maha Grih Suraksha for home loan borrowers. Also, they entered into distribution agreement with 15 select Asset Management Companies during the year. They opened 20 new branches upgraded 10-extension counters into full-fledged branches. They also opened 3 Currency Chests during the year. In March 2008, the two Regional Rural Banks, namely Aurangabad Jalna Gramin Bank and Thane Gramin Bank were amalgamated into one unit in the name of Maharashtra Godavari Gramin Bank with head office at Aurangabad and having area of operation in nine districts of Maharashtra. As at March 31, 2008, the total branch network comprised of 1,375 branches and three extensions counters spread over 22 states and two union territories. During the financial year ended 31 March 2010, Bank of Maharashtra crossed the milestone business level of Rs 1,00,000 crore. During the year, the bank set up currency futures desk at its dealing room and started proprietary trading in MCX-SX Exchange. Straight-through-Processing (STP) of Merchant Transactions was implemented in all 28 designated Fex Centres during the year. During the year under review, Bank of Maharashtra opened 33 new branches. The bank set up three retail credit hubs one each at Pune, Mumbai and Delhi to facilitate robust and qualitative growth in retail credit with special focus on housing loans. Five Asset Recovery branches were also set up one each at Pune, Mumbai, Nagpur, Kolkata and Aurangabad to provide greater thrust to the legal and administrative measures for recovery of NPAs. The year 2009-2010 was a landmark year in the chronicle of the bank as far as technology implementation and up scaling are concerned. The bank completed the process of networking of all the 1,453 branches and bringing them under Centralized Solution on 2 February 2010, thereby achieving 100% Core Banking Solution (CBS). During the year under review, the Mobile Banking product Maha Mobile was launched offering services like balance enquiry, view last three transactions, cheque status enquiry, request for cheque book / statement of accounts, change MPIN and intra bank fund transfer up to Rs.50,000 per day. During the financial year ended 31 March 2014, Bank of Maharashtra received equity share capital amounting to Rs. 800 crore (including share premium of Rs. 622.38 crore) from Government of India (GOI) through allotment of shares on preferential basis. With capital infusion, the share holding of GOI in equity share capital increased to 85.21% as on 31 March 2014. During the year, the bank opened 162 new branches, the largest number of branches opened by the bank in a financial year since inception. The year 2013-2014 was a milestone year for the bank as far as technology implementation and up scaling is concerned. During the year, bank expanded its ATM Network from 692 ATMs to 1827 ATMs, covering nearly all the 1890 branches of the bank. The implementation of banks own ATM Switch commenced during the year and was implemented live from 8 May 2014. Bank of Maharashtra has its own Corporate Network 'MAHANET' with all Branches, Zonal Offices, Training Colleges / Centers and Head Office interconnected and working under Core Banking Platform. Its robust & secure Network Technology Architecture ensures seamless services to the customers. During the year 2013-14, the process of migration of the network to highly reliable Multi Protocol Label Switching (MPLS)-VPN (Virtual Private Network) based architecture was completed. In July 2013, Bank of Maharashtra took a novel step by forming a new department by the name 'Department of Strategic Initiatives'. The project is named 'Utkarsha' and is a business transformation programme. The bank has engaged EY as consultants for the transformation. A team of 12 officers headed by an AGM is also formed to undertake this project. Time lines and the scope of work are defined and the expected time for the project completion is 18 months. The objective of Utkarsha is to draw a strategic roadmap and align bank's operating model to emerge as a more competitive, agile and efficient player. Project 'Utkarsha' encompasses six core elements namely Branch Transformation, Centralization and Business Process Re-engineering, Sales Enablement for retail and SME loans, Alternate Channels, Human Capital and Capital Efficiency. With a view to meet the credit requirement of its customers, Bank of Maharashtra launched a new retail loan product 'Mahabank Gold Loan Scheme' with effect from 26 September 2014. In January 2015, Bank of Maharashtra launched New Gen Mobile Banking Application Maha Mobile'. During the financial year ended 31 Mach 2016, Bank of Maharashtra set up Central Processing Cells at all the 33 zones. The centralized processing is expected to improve quality of appraisal and reduce undue delays in credit delivery mechanism. In addition to GRAS (Govt. Receipts Accounting System- e-payment of taxes) through all its branches in the state of Maharashtra, the bank introduced e-SBTR (electronic Secured Bank & Treasury Receipts). In order to extend additional credit support to its standard housing loan borrowers, Bank of Maharashtra launched 'Mahabank Top Up loan Scheme' with effect from 26 February 2016. Under this scheme credit is extended for repair / renovation / furnishing of house, children's education, Marriage of Children, Medical treatment, buying a vehicle or hi-tech gadgets etc. During the year under review, Bank of Maharashtra issued 10,51,50,787 equity shares amounting to Rs 394 crore (including share premium) to Government of India (GoI) on preferential allotment basis. Consequent upon the capital raised during the year, as above, the share holding of GOI in equity share capital stood at 81.61%. During the year, Bank of Maharashtra opened 15 new branches. CBS Hardware Augmentation Project covering DC & DR was undertaken & successfully completed during the year to take care of increasing transactions load and to ensure smooth functioning of CBS system at field level. E-Gadgets implemented in a big way during the year with commissioning of Self Update Pass Book Printers, Queue Management Solution & Bunch Note Acceptor Machines at various locations across the bank. During the financial year ended 31 Mach 2017, Bank of Maharashtra introduced One Time Settlement (OTS) Schemes viz. 'Mahabank Rahat Yoiana' for NPAs with Ledger Balance up to Rs.25.00 lakhs. During the year 2016-17 another special Suo Motu OTS Scheme (Viz. 'Mahabank Karimukti Yoiana') was introduced for recovery in Regular Written Off (RWO) a/cs up to Rs 25 lakhs. The bank added two new partners namely M/s Future Generali (Non-Life Insurance Company) and M/s Cigna TTK (Standalone Health Insurance Company) under Bancassurance in the month of February 2017. During the March 2017 quarter, Government of India vide its letter dated 16 March 2017 infused Rs 300.00 crore by way of preferential allotment of equity shares and the amount was maintained under Share application money pending for allotment, till the allotment of equity shares done. However, RBI has allowed treating share application money pending for allotment as CET1 capital for computation of CRAR. The bank successfully initiated/launched various Major IT Projects during 2016-2017. During the Year 2016-17, upgrade of Contact Center Operations including Integrated Voice Response System (IVRS) was successfully done & system is made operational. The bank launched MahaUPI', its UPI mobile application from 26 August 2016. The bank started the Paper-less ATM-RePIN facility (Green PIN) for ATM Card through its ATM Machines. During the year under review, the bank launched New Internet Banking Portal for Retail Customers. Bank of Maharashtra was placed under Prompt Corrective Action (PCA) by RBI in June 2017, in view of its high net NPA. Bank therefore had prepared Monitorable Action Plan for FY 17-18 to improve its position. During the year under review, the bank introduced One Time Settlement (OTS) Schemes. 'Ghar Ghar Dastak Yojana' (GGDY) was introduced for Small NPA borrowers up to Rs 10 lakhs. MahaMukti - 2017-18 (A) and 'MahaMukti - 2017-18 (B)' schemes were introduced for NPAs having ledger balance above Rs 10 lakhs up to Rs 1 crore and ledger balance above Rs 1 crore up to Rs 25 crore respectively. The bank introduced a scheme for one time settlement of Specified NPA accounts under 'Chhatrapati Shivaji Maharaj Shetkari Sanman Yojana 2017' (CSMSSY-2017) for farmers in the State of Maharashtra as proposed by Government of Maharashtra. During FY 2017-18, the bank redeemed Basel II /Basel III Compliant Bonds for an amount of Rs 1925 crore by exercising call option. The bank undertook borrowing as part of its asset liability management. In 2017-18, the bank added two more partners in life insurance business i.e. M/s Aviva Life Insurance Company and M/s Reliance Nippon Life Insurance Company. The Government of India infused total additional capital of Rs 3173 crore Bank of Maharashtra in two tranches; Rs 650 crore on 29 December 2017 and Rs 2523 crore on 27 March 2018. As part of its endeavor to curtail its operating expenses, Bank of Maharashtra merged 51 branches during the year, which were in close vicinity of each other, ensuring that no discomfort was caused to the customers. The Year 2017-2018 was a Technology Upscaling year for the bank. CBS Contract has been renewed for a period of 5 years from 1 October 2017 to 30 September 2022 with revamped CBS Front-end and additional components viz. Automated Testing, Batch Job Automation, On-line Training for staffs, Revenue Leakage Monitoring etc. During the year under review, the bank tied up with BSNL for upgrading the Bandwidth of the existing Leased Lines to 2 Mbps. During the FY 2018-19, Bank has redeemed Basel II /Basel III Compliant Bonds for an amount Rs 200 crore on the redemption date. Bank undertook borrowing as part of its asset liability management. Bank also entered into strategic tie-ups with Tractor Manufacturers, Micro Irrigation Companies, Farm Pond Construction Company for promoting farm mechanization, micro irrigation activities and also with Govt. of Maharashtra under POCRA / SMART Project for financing to FPO during the year 2018-19. The Bank has entered into an Agreement for Credit Guarantee with Small Farmers Agri-Business Consortium (SFAC) for financing to Farmer Producer Organizations (FPOs). During the FY2020, Bank's Total Business stood at Rs 2,44,955 crore as against Rs 2,34,117 crore in 2019, showing an annual growth of 4.63%. The Bank's Total deposits stood at Rs 1,50,066 crore as compared to Rs 1,40,650 crore in the previous year, showing an annual growth of 6.69%. Gross advances of the Bank stood at Rs 94,889 crore as on 31.03.2020 in comparison to Rs 93,467 crore as on 31.03.2019. The Bank has allotted 297,09,37,912 Equity Shares of Rs 10 each of Bank to Government of India at issue price of Rs 15.14 per share on 29 April 2019 against a capital infusion of Rs 4498 crore. The Government of India infused Equity capital of Rs 831 crore in Bank on 20 April 2020. The said money is kept in the Share application money pending allotment A/c till allotment formalities are completed. With the approval of RBI, said capital is used for computation of CET-1 Ratio as on 31.03.2020. Further, the Bank also raised Tier - II capital of Rs 600 crore by issue of BASEL III Tier - II Bonds with coupon rate of 8.70% in March 2020. As on 31 March 2020, the bank had a distribution network of 1,833 branches and 1851 ATMs spread across all the States and four union territories.

Bank of Maharashtra Directors Reports

Your Directors have pleasure in presenting the Annual Report of the Bank with the audited Balance Sheet, Profit & Loss Account and the Report on Business and Operations for the year ended March 31,2022.

1. MANAGEMENT DISCUSSION AND ANALYSIS:

1.1 Economic and Banking Scenario 2021-22:

The last couple of years have been difficult for world economy on account of COVID-19 pandemic. Global growth is expected to decelerate from 5.5 percent in 2021 to 4.1 percent in 2022 reflecting continued COVID-19 flare-ups, diminished fiscal support, and lingering supply bottlenecks. The lockdowns and social distancing norms have reduced the growth momentum.

The economic shock of the pandemic has been weathered well by the commercial banking system in India. Calibrated fiscal and monetary support was provided, cushioning the vulnerable during the lockdown and boosting consumption and investment while unlocking. A favorable monetary policy ensured abundant liquidity and immediate relief to debtors while unclogging monetary policy transmission. Indian economy is expected to expand 8.7% in FY 2021-22 after a contraction of 7.3 percent in FY 2020-21. India's GDP is expected to grow by 7.2 percent in FY 2022-23 due to global geo-political situation arising out of the Russia-Ukraine confilct and weak domestic demand coupled with surging commodity prices.

Outlook:

Gradual unlocking of the economy, record vaccinations, improvement in consumer demand, continued policy support towards industries by the government in the form of AtmaNirbhar Bharat Abhiyan and further reinforcements in 2021-22 have led to an upturn in the performance of the industrial sector. Rural Demand remains buoyant due to improved agriculture production for 2021-22. Urban demand has been gaining strength due to improvement in economic activity. RBI has projected real GDP growth for 2022-23 at 7.2%. The government's thrust on capital expenditure coupled with initiatives such as the production linked incentive (PLI) scheme should bolster private investment activity, amidst improving capacity utilization, deleveraged corporate balance sheets, higher off take of bank credit and congenial financial conditions.

2. PERFORMANCE HIGHLIGHTS 2021-22:

i. Total Business of the bank has increased from Rs. 2,81,660 crore as on 31.03.2021 to Rs.3,37,534 crore as on 31.03.2022. Business of the Bank showcased annual growth of 19.84%.

ii. Total deposits of the bank increased from Rs.1,74,006 crore as on 31.03.2021 to Rs. 2,02,294 crore as on 31.03.2022. Total deposits have showcased annual growth of 16.26%.

iii. CASA deposits have increased from Rs.93,945 crore as on 31.03.2021 to Rs.1,17,036 crore as on 31.03.2022 showcasing annual growth of 24.58%.

iv. Gross advances have increased from Rs.1,07,654 crore as on 31.03.2021 to Rs.1,35,240 crore as on 31.03.2022. Gross Advances have shown year on year growth of 25.62%.

v. Operating Profit increased 22.42% to Rs.4847.87 crore in year ended 31.03.2022 from Rs. 3960.08 crore in year ended 31.03.2021. During the same period Net Profit increased 109.28% to Rs.1151.54 crore from Rs. 550.25 crore.

2.1 Sectoral Deployment of Credit:

(Rs in crore)

Percentage to Total Outstanding O/s as on 31.03.2022 Percentage to total O/s O/s as on 31.03.2021 Percentage to total O/s
Industry 44,045.15 32.57% 34,129.68 31.70%
Of which
i. Infrastructure 21,643.82 16.01% 14,347.11 13.33%
ii. Chemicals, Dyes, Paints etc 1,357.02 1.00% 1,121.67 1.04%
iii. Petroleum 600.74 0.44% 588.66 0.55%
iv. Iron and Steel 566.80 0.42% 859.89 0.80%
v. NBFCs and Trading 11,132.79 8.24% 9,232.69 8.58%
vi. Engineering 1,235.38 0.91% 1,245.15 1.16%
vii. Construction 128.57 0.10% 80.94 0.08%
viii. Other Industries 7,380.03 5.46% 6,653.57 6.18%
Agriculture 18,968.15 14.02% 16,201.98 15.05%
MSME 26,279.08 19.43% 23,132.87 21.49%
Housing 21,103.06 15.60% 17,909.85 16.64%
Education 1,458.85 1.08% 1,287.73 1.20%
Exports 1,385.01 1.02% 1,310.99 1.22%
Commercial Real estate 1,253.84 0.93% 1,508.58 1.40%
Gross Advances 1,35,240.00 1,07,653.77

2.2 Quality and NPA Management

• The Bank has set up "Asset Recovery Cells (ARC)" at

all zonal offices to ensure focused efforts for upgradation and NPA recovery.

• Twelve Asset Recovery Branches (ARBs) have also been set up across the Bank's Zones for large NPA a/cs more particularly where legal actions are in progress so as to make focused follow up.

• Further, Bank has established Stressed Assets Management Vertical by way of a separate dept at HO under which Bank has started 4 (four) Stressed Assets Management (SAM) branches in Delhi, Mumbai, Hyderabad and Pune, where NPAs with balance of Rs.5 crore and above are monitored. Focused follow up is undertaken to improve NPA recovery.

The Loan Tracking Cell has been established where Bank undertakes telephonic follow up on daily basis with borrowers of stressed accounts / slippages and repayment of overdues is insisted. This will result in improving recovery and upgradation of NPAs.

• The Bank has also set up separate Cells at its Head Office for identification of Wilful Defaulters, gearing up the actions under DRT / SARFAESI Acts.

• Bank has been implementing Suo Motu nondiscriminatory and non-discretionary One Time Settlement (OTS) Schemes. Monitoring of the performance under the schemes is undertaken from Recovery Department, Head Office on daily basis. During FY 2021-22 the Bank introduced following such OTS schemes:

1. Maha Rah at Yojana 2021-22:- Scheme for the settlement of NPA accounts in Doubtful-I, Doubtful-II, Doubtful-III, Loss and TWO accounts having Ledger Balance up to Rs.1.00 crore as of 31.03.2021. This scheme is effective from 01.06.2021.

2. Maha Samadhan Yojana 2021-22 : Scheme for the settlement of NPA accounts in Doubtful-I, Doubtful- II, Doubtful-III, Loss and TWO, RWO accounts having Ledger Balance above Rs.1.00 crore and up to 50.00 crore as of 31.03.2021.

3. Maha Santavana OTS Scheme 2021-22 : All NPA

Housing Loan (& Top up Loan) accounts in DB1, DB2, Loss and TWO / RWO as of 31/03/2021 where Borrower or Co-borrower is deceased.

Bank has also made intensive follow up with the defaulting borrowers through visits, letters, notices, Recovery Camps, Lok Adalats, Mahabank Adalats, actions under SARFAESI / DRT Act. Services of Recovery Agents / Resolution Agents are engaged so as to have an early resolution. The Bank has also initiated action under the provisions of the Insolvency & Bankruptcy Code 2016 against various large NPA borrowers.

Position of Non-Performing Assets is as under

2.3 Foreign Exchange Business

Currently, the bank has 37 B Category Branches across the country catering to the International business needs of the customers of the Bank apart from TIBB at Mumbai as "A" category Branch. The Merchant Business for FY 2021-22 stood at Rs 34,251.01 crore. The performance during FY 2021-22 can be seen below:

(In Crore)

Particulars 2021-22 2020-21 Percentage of (+/-)
Total FEX Turnover Business 5,55,982.93 6,34,389.59 (-12.36%)
Merchant Turnover Business 34,251.01 30,451.46 12.48%
Profit in FEX Business 129.48 153.09 (-15.42%)

2.4 Investment

The breakup of Investments into SLR & Non-SLR investments is given below:

• The Gross Investments as on 31.03.2022 stood at Rs 69,092.68 crore, of which Rs 54,718.95 crore are SLR securities and Rs 14,373.73 crore are Non-SLR Securities. The excess SLR securities as on 31.03.2022 stood at Rs 20,144.61 crore.

• The net investments (net of provisions) stood at Rs 68,589.97 crore as on 31.03.2022 as compared to Rs 68,111.65 crore as on 31.03.2021. Investments under Held to Maturity (HTM) category consist of 68.94%, while Available for Sale (AFS) comprised of 31.06% of total investment portfolio as of 31.03.2022. The net interest income from investment activity increased to Rs 4,387.93 crore from Rs 4,158.32 crore during the last year (up by 5.52%).

• The Non-Performing Investments stood at Rs 446.37 crore as on 31.03.2022.

2.5 Merchant Banking

The Bank handled 30 issues (previous year 44 issues) of Commercial paper amounting to Rs 30,950 crore (previous year Rs 32,745 crore) for its clients as an Issuing and Paying Agent (IPA) during FY 2021-22.

2.6 Borrowings:

Particular Amount as on 31.03.2022 Amount as on 31.03.2021
Total Borrowing 7,746.74 4,238.75
of which Borrowing RBI under LAF 500.00 500.00
of which Borrowing Market REPO 0.00 0.00
Of which Borrowing TRePS (G-Sec) 3,194.64 0.00
Of which Refinance from
NABARD 0.00 0.00
EXIM BANK 0.00 0.00
NHB 0.00 0.00
MUDRA 139.00 0.00
SIDBI 17.35 51.55
Borrowings in the form of Bonds & debentures capital instruments 3,895.70 3,605.70
Borrowings outside India 0.00 81.45
Others 0.05 0.05

2.7 Depository Services

• Bank is Depository Participant (DP) of Central Depository Services of India Ltd. (CDSL) since September 1999.

• The Bank has also introduced Basic Services DEMAT Account Facility (BSDA)

• Bank has introduced ASBA through net-banking and UPI.

2.8 Bancassurance

• Bank is corporate agent for carrying out Bancassurance business under all three segments i.e. Life Insurance, General Insurance and Health Insurance.

• Performance during FY 2021-22

(Rs. in Crore)

Insurance No. of Policies Premium Commission
Life 15,022 75.29 15.47
General 1,44,648 51.34 6.06
Health 31,298 50.30 6.77
Total 1,90,968 176.93 28.30

• Company wise insurance business from 01.04.2021 to 31.03.2022:

(Rs. In Crore)

Category Insurer NOP Premium Commission
Life AVIVA Life Insurance 11,682 61.44 13.60
Insurance LIC of India 3,340 13.85 1.87
General Future Generali 1,19,282 39.22 4.46
Insurance United India 44,849 29.89 3.49
Health Insurance Manipal Cigna 11,815 32.53 4.88
Total 1,90,968 176.93 28.30

2.9 Government Business

• During FY 2021-22, 536866 challans of Direct Taxes and 35419 challans of Indirect taxes were collected by the branches. Total commission to the tune of Rs 0.65 Crore was received on tax collection business from Central/ state Government and other business in current year.

• As a service to senior citizens, the Bank is processing and crediting monthly pension payments of more than 1.05 lakh Central Government, Defence, Railway and Telecom pensioners at Central Pension Processing Cell (CPPC), Pune. The commission on Government Business (Pension) for the Year 2021-22 is Rs. 10.25 crore.

• Bank has opened 1,02,784 new PPF accounts, 18,045 new SCSS accounts and 12,174 new accounts under Sukanya Samruddhi Scheme in FY 2021-22

2.10 Income, Expenditure and Profitability

The total income of the Bank stood at Rs 15,671.70 crore in FY

2021-22 as compared to Rs.14,496.21 crore in FY 2020-21.

The detailed income/expenditure components are as under:

(Rs in crore)

Particulars 2021-22 2020-21 Variation (in %)
Interest / discount on advances / bills 8,231.56 7,153.93 15.06
Income on investments 4,384.69 4,153.40 5.57
Interest on interbank lending & other Interest 402.97 561.21 (28.20)
Total interest income 13,019.22 11,868.54 9.70
Non-interest income 2,652.48 2,627.67 0.94
Total Income 15,671.70 14,496.21 8.11
Interest on deposits 6,458.17 6,525.95 (1.04)
Interest on borrowings 30.91 49.65 (37.74)
Other Interest expenditure 485.74 395.47 22.83
Staff expenses 2,070.59 2,255.21 (8.19)
Other Operating expenses 1,778.42 1,309.84 35.77
Total Non-interest expenses 3,849.01 3,565.06 7.96
Total Expenses 10,823.83 10,536.13 2.73
Operating Profit 4,847.87 3,960.08 22.42
Provisions and Contingencies 3,696.33 3,409.84 8.40
Net Profit 1,151.54 550.25 109.28

2.11 Financial Ratios

The various financial parameters of the Bank during FY 202122 can be seen below:

Particulars 2021-22 2020-21
EPS (INR) 1.72 0.88
Cost to Income Ratio (percent) 44.26 47.39
Return on assets (percent) 0.55 0.3
Return on equity (per cent) 11.45 7.17
Book value per share (INR) 15.12 12.22
Profit per Branch (INR in Lakh) 56.95 28.02
Profit per employee(INR in Lakh) 9.05 4.19
Business per Branch (INR in Crore) 166.65 143.11
Business per employee(INR in Crore) 26.53 21.45
Interest income as per cent to Average working funds 6.26 6.42
Non-Interest income as per cent to average working funds 1.27 1.42
Net Interest Margin (per cent)* 3.15 2.84
Operating Profit as per cent to average working Funds 2.33 2.14
Staff expenses as a percent to average working funds 1.00 1.22
Proposed Dividend (per cent) 5.00 0.00
Net worth (' Crore) 10,175.85 8,019.20
CRAR (%) (Basel II) 16.48 14.49
Of which, Tier I CRAR (%) (Basel II) 12.38 10.98

2.12 Capital

• Bank has raised capital of Rs. 403.70 crore through QIP in July 2021 @ Rs. 23.70 per share.

• Bank has raised Rs. 1000 Crore, Tier 2 Bond from LIC in the month of October 2021.

• Bank has raised Rs.290 Crore, Tier 1 Bond in the month of March 2022.

2.13 Net worth

The Bank's Net Worth stood at 10,175.85 crore as on 31.03.2022 as against Rs. 8,019.20 Crore as on 31.03.2021.

2.14 Capital Adequacy Ratio

The Capital Adequacy ratio stood at 16.48% as on 31.03.2022, against the minimum requirement of 11.50% (including CCB) prescribed by RBI in terms of Basel III norms. The Common Equity Tier 1 Ratio stood at 12.17%.

2.15 Dividend

The Board of Directors of your Bank has recommended a dividend of Rs.0.50 per equity share(5%) of Rs. 10/- each on the paid-up Share Capital of the Bank for the financial year 2021-22. The final dividend shall be paid to the members, whose names appear in the Register of Members as well as the Beneficial Ownership Position provided by NSDL/CDSL as at the close of business hours on 21st June, 2022 (Record date).

3. RESOURCES: BRANCH NETWORK, HUMAN RESOURCES, IT INFRASTRUCTURE, CUSTOMERS RESPONSIVENESS AND OTHERS

3.1 Branch/ATM Network

As on 31.03.2022, the Bank had 2,072 banking outlets spread across all the States and six union territories as compared to 1,964 as on 31.03.2021. The banking outlets comprised of 2,022 branches and 50 fixed point outlets served by Bank Mitras, named as Customer Service Point (CSP).

During the year ended 31.03.2022 the Bank opened 108 new branches and set its footprint in 73 additional districts. Bank also opened 50 fixed point outlets served by Bank Mitras, named as Customer Service Point (CSP). In the same period 1 branch was converted into CSPs and one branch was merged with another branch. During the branch conversion and merger utmost care was taken to ensure that customers are not put into any inconvenience in availing banking services.

The branch network includes specialized branches in the area of Foreign Exchange, Government Business, Treasury and International Banking, Industrial Finance, Micro Small and Medium Enterprises, Hi-tech agriculture etc. Area wise classification of branches as on 31.03.2022 is as under:

Sr. No. Classification As on 31.03.2022 As on 31.03.2021
1 Rural 611 611
2 Semi-Urban 511 461
3 Urban 412 372
4 Metro 488 471
Total 2,022 1,915

ATM / CRM Network

The Bank had 2,128 automated teller machines (ATMs) and cash recycler machines (CRM) as on 31.03.2021 as compared to 1,950 as on 31.03.2021. During the year ended 31.03.2022, the Bank installed 91 ATMs and 87 CRMs.

31.03.2022 31.03.2021
Offsite 429 445
Onsite 1,699 1,505
Total 2,128 1,950

3.2 Human Resources ManagementThe Bank has put in place comprehensive HRM Policies that provides the road map for acquiring appropriate & need based human resources, its development through training, job enrichment, reward and recognition for better performance, career progression, welfare and retention

Recruitment: During FY2021-22 the Bank has recruited employees as under:

289 Officers in Scale I, 130 officers in Scale II, 1 in Scale III cadre and 178 Clerks. During FY 2021-22, 1010 employees exited from service on account of retirement, VRS, resignation, termination and death.

Inter scale promotions of officers were carried out during FY 2021-22. Following number of Officers were promoted.

JMGS-I TO MMGS- II to MMGS-III TO SMGS-IV TO SMGS-V TO SMGS-VI TO
MMGS-II MMGS III SMGS-IV SMGS-V SMGS-VI TEGS-VII
171 156 70 36 13 6

During FY 2021-22, 58 Clerks were promoted to Officer Cadre in Scale I and 667 Part time Sub-staffs were promoted to Substaff cadre. The Cadre wise staff position as of 31.3.2022 with sex ratio percentage is as under:

Category Male % Female % Total
Officers 4,788 71.72 1,888 28.28 6676
Clerks 2,560 66.12 1,312 33.88 3872
Sub-staff 1,915 88.90 239 11.10 2154
Part Time Substaffs 19 100 - 19
Total 9,282 72.97 3,439 27.03 12,721

The Bank has been complying with the reservation policy of Govt. of India. Special Cells at Head Office and all Zonal

Offices are functioning to monitor the implementation of the reservation policies and to redress grievances of SC/ ST/OBC & Physically challenged employees as well as exservicemen. The Bank has designated Chief Liaison Officers at Head Office and has set up SC/ST Cells at all Zonal Offices. The staff position details category wise is as under,

Caste category wise cadre strength as on 31.03.2022
Cadre SC ST OBC EWS GEN Total PWD EX SERVICEMAN
Officer 1,058 495 1759 32 3,332 6,676 164 35
Clerk 645 339 941 25 1,922 3,872 105 135
Sub-Staff 719 215 491 0 729 2,154 20 140
PTS 3 2 7 0 7 19 0
Total 2,425 1,051 3,198 57 5,990 12,721 289 310
% of Total Staff Strength 19.06% 8.26% 25.14% 0.45% 47.09% 2.77% 2.44%

Compassionate Appointments - A Scheme for ‘Compassionate Appointments' / Payment of Ex-gratia lumpsum amount" to /of heirs of employees dying in harness or retiring due to incapacitation framed as per the directives of Government of India, has been implemented. The details of compassionate appointments for the year 2021-22 is as under:

Compassionate Appointments
Cadre No. of employees
Clerk 23
Sub-staff 8
Total 31

The Contributory Group Insurance Mediclaim Policy for all employees including retired employees, has been renewed w.e.f. 01.4.2020 and the Sum insured is upto Rs.10.00 Lacs for existing employees. The details of renewal of policy are as under:

Employees No.of Employees Premium paid (in Rs. )
Existing 697 1,19,65,432
Retired 1,440 2,35,54,126
Total 2,137 3,55,19,558

WELFARE SCHEMES:

The Bank has acknowledged the necessity of welfare measures beyond the provisions of service conditions. With this motive bank has initiated and implemented various Welfare measures through Staff Welfare Committee. The reimbursement of examination fees and payment of cash incentive /Honorarium in respect of courses from Indian Institute of Banking & Finance, MBA from reputed institutions, FRM, BIRD, PRM, CFA etc. This has been widened by adding 38 courses eligible for reimbursement of examination fees. A policy for granting special leave and 100% reimbursement of hospitalization expenses to officers when he/she meets with an accident/ injury while on duty is in place. Bank has initiated a scholarship scheme for wards of employees who have excel performance in academics.

SN Course / Exam Award Rs. Stream Min. % of marks
Others Sub staff
1. 10th std. 3,000 N.A. 85 75
Science 85 75
2. 12th std. 5,000 Commerce 75 70
Arts 65 60
Science 70 60
3. Graduation 7,000 Commerce 70 60
Arts 60 55
4. Post-Graduation/ PGDBM 10,000 N.A. 65 60
5. Foreign MS / Graduation / PG 20,000 N.A. -- --
BE / B. Arch / 60 60
LL.M / Law 60 60
6 Professional . Courses / Degree 7,000 MBBS, BDS, BHMS, BAMS 55 55
Hotel Mgmt / Pharmacy 60 60
CA / CS / FCA / ICWA Pass Class
7. Professional PG 10,000 ME / M.Phil / MBA, MPM. M.Tech / MCA/Ph.D Pass Class

In the name of Dr. Babasaheb Ambedkar, Bank has initiated Scheme to felicitate & reward the top 3 performing branches in terms of disbursing credit facilities to SC/ST communities.

LEARNING & DEVELOPMENT: The Bank has a training system which facilitates attention to regular periodic assessment of skill gaps at various levels in relation to existing and emerging business opportunities. Skill building in credit, Forex, customer relationship management, marketing of products and services, credit monitoring and recovery, risk management, technology based banking, branch management, complying with statutory, legal and policy requirements and preventive vigilance received special attention during the year. Learning and Development (L&D) strategy has been customized for enriching employees through virtual / online training programs, enabling them to avail these services from anywhere.

Training programs were also held on thrust areas like financing MSMEs, retail lending, agriculture finance, soft skills and rural development.

Cadre-wise Break up of Employees trained during the period 1.4.2021 to 31.03.2022 are as under-

Cadre No. of Programmes Training Days Employees Trained Cadre
Officers 608 4,990 165
Clerks 308 2,119 107
Sub-staff 163 1,604 85
Total 1,079 8,713. 357

3.3 Technology Initiatives

A. Customer Centric Initiatives FY 2021-22:

During FY 2021-22, Bank has taken multiple initiatives toward service delivery to its customers for convenience:

• MeitY: Digital Score Card: Ministry of Electronics & Information Technology (MeitY) has set target of 54 crore digital transactions for FY 2021-22 where bank has achieved 63.90 crore digital transaction for FY 2021-22. MeitY monitors the progress of digital payment transactions, merchant acquisitions, UPI and AEPS system resilience on monthly basis and communicates the scores to Banks. Our bank has maintained "Good" category performance.

• Development of Online ‘Jeevan Pramaan Patra' tool.

This portal has been made available on Bank's website for pensioners to submit video based online annual Life certificate without visiting the branch.

WhatsApp Banking and Chatbot Solution for providing customer services like real-time account balances enquiry, mini statement reports, latest transaction records, real-time alerts, submit cheque book request, branch locator, ATM locator etc. The solution is also enabled for application of loans through digital channels.

Cardless Cash Withdrawal along with other enhanced features through its Mobile Banking platform, extending more convenience to its customers.

Paperless processing of Credit Card to encourage paperless & fast processing of credit card applications. Under this facility, an SMS is sent to customer with a link to obtain customer's consent for availing credit card service. On clicking the link, a webpage is displayed to customer where he/she will submit his/her consent for credit card. Based on consent, branch process the credit card request of the customer.

• Bank Debit Card Issuance has reached to 12.26 Million. Bank's Mobile Banking and Internet customer base has reached to 1.89 Million and 1.93 Million respectively. During FY 2021-22, fresh Debit Card issuance to customers has reached a milestone figure of 2.50 million & percentage of digital transactions increased to 95.98%.

• Bank has introduced its own QR code Standy and onboarded more than 1 lakh merchants, which includes more than 5,000 merchants in North East Region

B. Process Centric Initiatives:

Following process related enhancements have been achieved through introduction of technology:

• Bank has launched rule based stress account monitoring tool "HawkEye" developed by its IT department and the same has been launched for the Branches & Zones. The tool has enabled real time monitoring and mitigation efforts by the field functionaries towards improvement of overall asset quality for the bank. This has resulted in substantial reduction in stress assets over the period with ease of monitoring for field functionaries.

• Bank has successfully implemented LLMS Pan-India across all its branches for processing of loan proposals within expected TAT. Bank has successfully processed 38,000+ loan proposals through LLMS.

• Digital on-boarding of customers enabling application of loans through Bank's Corporate Website & WhatsApp links.

• During FY 2021-22, Bank has tied up with many state governments viz, Maharashtra, Madhya Pradesh, Bihar, Jharkhand, Goa as empaneled Agency Bank for Single Nodal Agency Account and other related banking facilities. Bank has also tied up with many Govt Corporations in enabling technology platforms to them for handling their customer transactions, which extended transparency and convenience to the public at large.

C. Infrastructure & Regulatory Initiatives:

• Bank has implemented Aadhaar Data Vault. As per directives of UIDAI all agencies which store Aadhaar number are required to implement an Aadhaar Data Vault, a system where a unique Reference Number is allotted against every Aadhaar Number.

• During Q2 of FY 21-22, Bank has taken up Pan-India migration of all branches to New Front End (from Gateway based CBS present in the Bank since 2006). All branches have been successfully migrated to New Front End Centralized CBS version. Bank of Maharashtra is the first Bank having Bancs24 to migrate all its branches to such upgraded version.

• Bank is in the process of setting up Private Cloud architecture at Data Centre and has procured the necessary infrastructure for the same. Bank intends to migrate some of its utilities to cloud during FY 2022-23.

• To strengthen the security architecture, Bank has also invested in different industry established latest security tools like DLP (Data Leak Prevention), DAM (Database Access Monitoring), EDR (Endpoint Detection and Response), WAF (Web Application firewall), FRA (Firewall Rule Analyzer) etc to name a few.

• Bank has migrated 180 VSAT dependent branches during FY 2021-22 to high speed RF links enabling smooth customer service at the branches without any infrastructure based disruptions.

• Bank's Board has approved Fintech policy which has unlocked the Fintech adoption arena. With a clear direction & roadmap, Bank has started onboarding Fintech companies so as to leverage the benefits of the technologies by way of integration across various Alternate Delivery Channels of the Bank. Bank is also digitalizing end to end journey of customers when it comes to offering the bouquet of Bank's loan products. This will help in reducing the TAT and enhanced customer service.

D. Digital Literacy:

As part of its social banking awareness initiatives, Bank has been conducting digital literacy and camps at various remote centers. List of some of the camps conducted during FY 202122, are as under:

• Literacy camp was organized for BC Agents on Digital products on-boarding at Aurangabad zone.

• Debit cards campaign at Tungan Village by Pimpalkhote Branch-Malegaon Zone exclusively conducted for tribal women where 55 RuPay debit cards were distributed and the women were trained for utilization.

• One Village One Bank- Our Modasa Branch, Ahmedabad Zone has converted Charanwada Village into 100% digital village. During this drive more than 1000 Saving Banks Accounts were opened and Debit Cards and QR codes were given to all eligible customers.

• Digital Literacy camp was organized for Senior Citizen at Parbada Branch, Ahmedabad Zone.

• Various Digital Literacy camps were organized in Branches of Nagpur Zone. Total 1000+ plus debit cards were distributed during the campaign.

E. Cyber Security Operations Center (CSOC):

Bank has implemented Cyber Security Operations Center

(CSOC) with state of the art technologies including:

• Security Information and Event Management (SIEM) solution.

• Anti-Advanced Persistent Threat (Anti-APT) Solution for combatting advanced attacks.

• File Integrity Monitoring (FIM) for detecting unauthorized changes to critical file servers.

• Privilege Identity Management tool (PIM) a centralized portal-based console to access the privilege devices, servers and applications for all the privilege users using 2FA.

• Network Behavioral Anomaly Detection (NBAD) tool for detecting network anomalies.

F. Awards & Recognitions on Technology front:

• Bank was conferred with prestigious "DIGIW Utkarsh Award" for securing 1st position, on 05.12.2021, by Ministry of Electronics & Information Technology (MeitY), GOI, for achieving 1st highest percentage of digital transactions under Small & Micro PSBs during 2019-20.

• Bank has also bagged the prestigious IBA Award on Best IT Risk & Cyber Security initiatives & Best Fintech Adoption for 2020- 21.

3.4 Customer Centric Initiatives taken by the Bank

• The Bank has pursued high standards of customer service to ensure customer satisfaction throughout the year by implementing all major recommendations of Goiporia Committee, Dr. S.S. Tarapore Committee and Damodaran Committee. As a member of Banking Codes and Standards Board of India (BCSBI), the Bank has adopted Code of Bank's Commitment to Customer and Bank's Code of Commitment to MSMEs.

• Bank has printed folder called as "My Folder" containing all customer service policies, information on service charges, guidelines on Government Schematic Loans, Ombudsman and BCSBI Codes. The same is printed in Marathi, Hindi and English and supplied to all branches and Zones for making the same available to all customers on demand.

• Duly documented policies approved by the Board, on "Deposit", "Collection of Cheques", "Redressal of Grievances", "Compensation", "Operational Procedure for Settlement of Claims of Deceased Depositors" and Customer Rights Policy are in place.

• Customer Service Committees are formed at all branches and their meetings are conducted regularly on monthly basis. The Standing Committee on Customer Service at Head Office and Zonal Level Customer Service Committees at Zones, meet regularly to address and review various customer related matters and to take steps, for an improvement, on an ongoing basis.

• The Committee of the Board on Customer Service meets on quarterly basis to monitor the quality of the customer service, redresses of customer grievances and to ensure customers satisfaction.

• Full-fledged grievances redressal machinery in place to respond promptly to customer grievances. The Bank has started internet based mechanism, Standardized Public Grievances Redressal System (SPGRS) for lodging the complaints or to give suggestions / feedback on services by the customers and for providing acknowledgement and status of their feedback / complaints as per the directions of Government of India.

Sr. No. Particulars 2021 22 2020 21
1 Customer complaints at the beginning of the year 19 296
2 Complaints received during the year 3,236 3,760
3 Complaints redressed during the year 3,249 4,037
4 Complaints pending at the end of the year 06 19

3.5 KYC / AML

The Bank has Board approved KYC-AML-CFT Policy in place. The Policy is the foundation on which the Bank's implementation of KYC norms, AML standards and CFT measures are based.

The full KYC compliance entails staff education as well as customer education for which the Bank takes various measures on a regular basis. A comprehensive list of KYC documents is uploaded on the Bank's web site for the benefit of customers. Regular training sessions are conducted on KYC-AML-CFT guidelines at the Bank's training establishments to sensitize the employees.

3.6 Risk Management

The Bank has put in place Risk Management Policies and Strategies, which enables it to identify, measure, monitor and manage risk efficiently and establishes control systems in line with the Bank's aggregate Risk Appetite. Bank has constituted Risk Management Committee at Board level to monitor the risk at Bank level in accordance with RBI Guidelines. Bank has also constituted sub-committees headed by Top Management of Bank.

The Bank is Compliant to the RBI guidelines on disclosure requirements under Basel III Capital Regulations.

3.7 Marketing & Publicity

Bank adopted an integrated marketing strategy to promote Retail, Agri, MSME products and Digital Banking Services. The marketing team participated in various expos in the physical and virtual modes under the Retail, Agri & MSME sectors for increasing our presence and business mobilization. Bank advertised in major sporting events like International Cricket India Vs England, Property Expo at Sharjah, etc.

In FY 2021-22, Bank created new benchmarks in all mediums like TV, Radio, Digital, Print, etc. Bank has done campaigns with various National & Regional TV, Radio, Print & Digital Channels for creating awareness about the Bank and Promotion of various products & services.

In Digital Marketing Bank has done advertisement campaigns in major e-commerce, news portals & Google Ads. Bank emphasized SEO for making the corporate website more user- friendly.

In social media, Bank reached 1 million followers on 4 major platforms combined Facebook, Instagram, YouTube & Twitter.

3.8 Citizen's Charter

The Bank has adopted the Citizen's Charter since 2000-01, which details the duties and responsibilities of the Bank towards its customers. The charter is displayed at all the branches and Bank's website.

4. SOCIO/MICRO ECONOMIC DEVELOPMENT

4.1 Priority Sector Lending

It has been the constant endeavor of the Bank to facilitate equitable and sustainable economic development by timely and hassle-free availability of credit for productive purposes to Small and Marginal Farmers, Micro and Small Enterprises, Retail Traders, Professional and Self Employed, Women Entrepreneurs and entrepreneurs from economically weaker sections. Total Priority Sector Lending (PSL) of the Bank (including investments & PSLC sale transaction) stood at 43.37% of ANBC as against the mandatory target of 40%. The advances under Priority Sector (excluding investment & including PSLC sale transaction) as of 31st March 2022 (Post Audit) stood at Rs. 42638.78 Crore (40.89% of ANBC). Bank has carried PSLC Sale transaction of Rs. 12500 Crore and received premium of Rs. 188 Crore during FY 2021-22.

Bank has achieved all mandatory targets as stipulated by RBI under Priority Sector Lending during FY 2021-22 on Quarterly Average Basis.

4.2 Agriculture

Bank sanctioned fresh loans of Rs. 6,372 Crore for Agriculture and allied activities during FY 2021-22. The total outstanding advances to agriculture sector reached a level of Rs. 18,968.15 Crore (including PSLC Sale transaction of Rs. 1,000 Cr) as on 31.03.2022. Total Agriculture (including investments & including PSLC sale transaction) stood 18.81% of ANBC. Bank has achieved all mandatory targets (on Quarterly average basis) under Priority Sector and Agriculture including sub-targets during FY 2021-22.

The bank focused on growth of Investment Credit under Agriculture during FY 2021-22 and disbursed Rs.2,571 Crore. As a result, Investment Credit of Bank grew by 23.62% and MKCC portfolio of the Bank grew by 10.04 % over previous year.

The bank also devised cluster based scheme "Mahabank Krishi Samruddhi Yojana" to cover the major Agriculture Investment activities of Agro and Food processing industries which is becoming popular due to competitive ROI and customer- friendly features.

Over last few years, Agriculture sector has been repeatedly hit by vagaries of natural calamities like drought, flood, hailstorms, etc. Within the regulatory guidelines, Bank has extended the relief measures to farmers from time to time. Our bank is also successfully implementing farm loan waiver scheme of Govt. of Maharashtra. Bank has efficiently implemented various other Farm Loan Waiver schemes declared by respective states.

The Bank undertook awareness/sensitization program and locational trainings for the branches for increasing advances to agriculture by providing hassle free credit to farmers.

4.2.1 Mahabank Kisan Credit Card

This scheme gained popularity especially in rural areas where it is being propagated successfully and vigorously. The bank organized Credit Camps during Kharif, 2021 season across the country. During, FY 2021-22 the bank sanctioned total 2.80 lakh Kisan Credit Cards to farmers amounting to Rs.4628 crore. Credit flow to MKCC beneficiaries reached to a level of Rs.8255 Crore as on 31.03.2022. As per regulatory guidelines, Bank has also implemented a special drive for issuing KCCs to farmers for Agriculture as well as for Animal Husbandry and Fisheries. The scheme is helping small and scattered dairy farmers, fishermen and entrepreneurs in animal husbandry to grow their business and also becoming popular in rural and semi urban areas.

4.3 Micro, Small and Medium Enterprises (MSME)

MSMEs are the growth engine for Indian economy. They have highest contribution in generating employment both directly as well as indirectly. During FY2021-22, MSMEs were most affected due to second wave of COVID-19 related distress, lockdown, labor migration etc. Bank has extended support to MSMEs and has implemented various relief measures given to MSME borrowers by Government of India and Reserve Bank Of India.

i. Additional Funding extended under Emergency Credit Line Guarantee Scheme (ECLGS) to eligible borrowers.

ii. Additional finance extended under Adhoc Line of Credit COVID-19 Scheme

iii. For street vendors, Bank of Maharashtra has extended loans via PMSVANIDHI scheme to revive their business.

iv. Finance is extended to eligible projects on the healtcare sector under Loan Guarantee Scheme for Covid Affected Sectors (LGSCAS).

v. Finance is extended under Loan Guarantee Scheme under Covid Affected Tourism Service Sector (LGSCATSS) to provide relief to eligible Travel & Tourism Stakeholders viz. By of need based financial assistance who have been adversely impacted by the Covid-19 pandemic.

Bank's lending to Micro, Small and Medium Enterprises increased by 14% as compared to Mar 2021 and recorded growth of Rs. 3146 crore in absolute terms. Total MSME advances of the bank stood at Rs.26,279.08 crore as on 31.03.2022.

Bank's performance in MSME portfolio in FY 2021-22 can be seen below in the table -

S. Particulars No Actual Target
1 % of Micro to Adj. Net Bank Credit 9.69% 7.50%
2 YOY Growth under Micro Enterprises -9.89% 10%
3 YOY Growth under Micro & Small enterprises O/s 13.08% 20%
4 Share of Micro against to MSE O/s 67.95% 60%

4.3.1 MUDRA

Bank is supporting credit needs of small business and nonfarm enterprises engaged in manufacturing, trade and services up to Rs. 10 lakh by way of Pradhan Mantri Mudra Yojana (PMMY). During the year ended 31.03.2022 the Bank has sanctioned Rs.2704 crore under PMMY against the target of Rs. 2375 crore, thereby achieving 113.85% of target.

Other Major Achievements

• To improve lending under MSME segment, Bank has taken various initiatives. Bank has launched credit campaigns and conducted MSME Outreach Expos across India. The Maha MSME Campaign was conducted from 09.08.2021 to 30.09.2021. During the campaign, MSME advances amounting to Rs. 2332 crore were sanctioned and Rs. 1828 crore were disbursed.

• The MSME Credit Outreach Campaign was conducted from 01.10.2021 to 31.12.2021. During the campaign period, MSME advances amounting Rs. 3843 crore were sanctioned and Rs. 3211 crore were disbursed.

• The Maha MSME Campaign 2022 (M2 2022) was conducted from 19.01.2022 to 16.03.2022. During the campaign period, MSME advances amounting Rs. 1922 crore were sanctioned and Rs. 1633 crore were disbursed.

• To garner desired level of quality new/takeover MSME business, Bank had launched a special drive - "Maha Swagatam" from 21.10.2021 to 31.03.2022.During the campaign, 343 accounts amounting Rs. 1103 crore were sanctioned.

• Bank has launched digital lending products under colending arrangement with Loan Tap, Mas Financial Services Pvt Ltd and LendingKart Finance Pvt Ltd which enable end to end digitization of MSME loans.

• Finance is being extended with very competitive ROI under Bank's various customized schemes like Maha GST, Maha Contractor, Maha Hospitality scheme etc.

• Bank has launched Mahabank Channel Financing Scheme which meets the credit demands of corporates and their MSME channel partners.

4.4 Banks exposure to select segments

(Rs. In Crore)

Sr Sector No As on 31.03.2022 As on 31.03.2021 % increase (+/-)
1 Micro / SHG Finance 557 365 (7.12)
2 Weaker Section 12,735 11,863 7.67
3 SC/ ST Beneficiaries 4,234 2,911 45.44
4 OBC Beneficiaries 9,108 7,605 19.76
5 Minority Communities 4,481 3,814 17.49

5. IMPORTANT SCHEMES/ PROJECTS OF THE BANK

5.1. Credit Flow to Retail Sector

Bank is providing retail loans for salaried persons, professionals, businessmen and pensioners for purchase of housing properties/ plots, repair/ renovation of house, purchase of consumer durables, two/four wheeler vehicles, education and loan for other personal needs etc. Total Retail portfolio of the Bank as on Mar'22 is Rs. 35422.22 Crore.

SN Scheme Brief Description Portfolio as of Mar '22 NPA %
1 Maha Super Housing Loan Scheme Housing Sector being the thrust area, Bank has various Housing Loan schemes in place to meet the needs of all economic segments. Bank offers housing loan for "purchase / construction of new / existing house / flat, repairs/ renovation / alteration of existing house / flat, purchase of plot and construction thereon" 21,103.06 1.02
2 Maha Super Car Loan Scheme and Mahabank vehicle Loan scheme Bank has launched schemes for purchase of New four wheelers i.e. Car, Multi Utility vehicles (MUVs), SUV etc. for personal use (i.e. not for hiring/ ferrying passengers) for individuals (18 years and above). 2,089.99 1.24
3 Model Education Loan Scheme Bank has implemented Model Education Loan Scheme as per IBA guidelines and provides hassle free Education loan to all meritorious and deserving students for pursuing higher studies / education in India and abroad. 1,458.85 1.60
4 Loan Against SelfOccupied Property Bank has introduced Loan Against Self-Occupied Property in which loan is given to the borrower against the property. The end use of the loan is for meeting varied personal needs like Children's Education, marriage of children, medical treatment, travel/ tour expenses, buying vehicle or hi-tech gadgets, other domestic needs etc. 1,259.08 1.82
5 Mahabank Top up Loan Scheme In order to extend additional credit support to existing housing loan borrower as well takeover of existing housing loans of other banks with additional facility of Top-up Loan. Bank has launched "Mahabank Top Up loan Scheme". Under this scheme credit is extended for repair / renovation / furnishing of house, children's education, marriage of children, medical treatment, buying a vehicle or hi-tech gadgets and other domestic needs etc. 1,268.59 0.24
6 Mahabank Gold Loan Scheme To cater to the needs of meeting personal expenses, whatsoever which include personal expenditure for varied needs like marriage, higher education, medical emergencies, and business travel etc., Bank has a retail loan product as "Mahabank Gold Loan Scheme". 3,296.68 0.28
7 Mahabank Aadhar Loan Scheme To cater to the needs of our existing pension account holders in meeting their personal expenses, pilgrimage, medical and domestic needs etc. Bank offers "Mahabank Aadhar Loan Scheme". 538.06 0.89

5.2. Centralized Processing of loans

Bank has established Centralised Processing Cells (CPCs) for processing and sanctioning of commercial and retail advances at all its zones to improve the turnaround time (TAT) in facilitating timely credit.

All mortgage based Retail loan or wherever immovable property are offered as collateral for mortgage purpose irrespective of the loan amount to be processed and sanctioned at the CPC-R.

These loans are as under:

• Housing Loan

• Top up Loan

• Loan against self-occupied Property

• Education Loan (Incase immovable property is offered as collateral)

• Vehicle Loan (Incase immovable property is offered as collateral)

• All other Retail Loans to be sanctioned by respective branches.

All Branches (Categorized up to Scale -4) within urban conglomerate or within 25 km to 30 km radius in other place (as per discretion of ZMs) from location of CPC-R will be mapped with it.

Work Flow Process - CPC Retail

• Mapped Branches within urban conglomerate or within 25 km to 30 km radius in other place (as per discretion of ZMs) will scout the proposals and send the application to CPC-R for sanction, after verifying the relevant documents as per checklist.

• Branches which are not mapped to CPC-R will be scouting, appraisal, due diligence and sanction within their delegated powers. Additional due diligence agencies will do supplementary verification, disbursement & Post sanction follow up etc. will be carried out by branches. Beyond delegated powers proposals will be send to next sanctioning authority routed through CPC -R.

• All Pune based CPC cells i.e. Pune City, Pune East and Pune West CPCs are merged into one Maha Bank Retail Point for processing all the mortgaged based loans in Pune at a single place for mapped branches and above the delegated sanctioning powers of unmapped branches. Similarly, Mumbai City & Mumbai Suburb are also merged into one Maha Bank Retail Point.

5.3 Housing Finance Branches:

Bank has already in place exclusive Specialized Housing Finance Branch (HFB) at Yashomangal, Pune City (Br. Code- 1129) to capture the available opportunities in Housing and Mortgage based loans. Major vision is establishing this specialized branch was to adopt a focus approach on pilot basis without disturbing the existing structure.

As evident, Bank has witnessed a positive outcome with such exclusive and at par with industrial standard outlet. Now, bank is with the opinion to explore and extend this opportunity to other major metro centers like Mumbai, Bengaluru, Chennai, Delhi, Hyderabad and Noida.

5.4 Door Step Banking Services

Bank is providing Door Step Banking Services for its retail customers in 100 identified cities through its 555 branches. The services include financial transaction like cash withdrawal. Non- financial transactions like delivery of account statement and TDS certificate/ Form 16 as well as pickup service of cheque/DD, 15G/15H form, standing instructions, life certificate, nomination etc. are also made available. Looking at covid-19 pandemic the basic financial and non - financial services at doorstep has been widely appreciated by the customers.

5.5 Alternate Delivery Channels

5.5.1 Internet Banking

1. There was an increase of 26.05% in Internet Banking user over the previous year. As of 31.03.2022, total 19.31 lakh customers were enrolled for Internet Banking facility.

2. In the internet Banking, additional 19 functionalities are added for more customer ease and convenience.

5.5.2 Mobile Banking

1. Banking users increased by 38.18% during FY 2021-22. Total enrolled users were 18.86 lakhs as on 31.03.2022.

2. Maha Mobile functionality has been customized and simplified with addition of 4 services and 30 functionalities for increasing enrolments.

5.5.3 QR Code issuance

1. There was increase of 30.28% in QR code issuance over the previous year. As of 31.03.2022, total 4.33 lakh QR codes issued to customers.

2. Bank has distributed 55189 QR stand to merchants during FY 2021-22.

6. CORPORATE SOCIAL RESPONSIBILITY

Following the legacy of the age-old convention of contributing to socio-economic advancement & underprivileged, weaker areas and rural citizens, Bank undertook various activities aligned with Govt. thrust areas:

Empowering MSMEs: Bank organized and participated in various events like MCCI India Financial Gathering 2022, an Online event on "Finance for MSMEs" organized by Mahratta Chamber of Commerce, Businesses & Farming (MCCIA) for empowering the MSMEs, Bank received outstanding Banking Partner award for MSMEs.

Promoting Education & Sports: Bank has supported

Hindu College Delhi for setting up a research cell for Banking and Finance; Srinivas College for organising an International conference on developing trends in Computer Science; NICMAR College for a conference for organising an International conference on Real estate, infrastructure, project management & construction. Olympic day online event organised by sports and youth services, Govt. of Maharashtra, Intercollege competition organised by Modern College, Pune, Bank organized yoga sessions on International Yoga Day.

Promoting Healthcare/Sanitation:

Bank has provided Ventilators to Rajagiri Hospital, Ernakulam and 125 folding canes to Blind Organisation. Masks, sanitizers and other hygiene materials were distributed to needy people

Women Empowerment: Helping Women SHGs by providing platforms like Bhimthadi Jatra (a National level exhibition for women) to showcase their products.

Urban/Rural development: Bank is undertaking various rural development activities through the Bank's Rural Development Centre like promoting soil testing for farmers, planting 500 jackfruit seeding to 100 farmers; Bhopal Smart City development; Pune Development Summit 2022 through Plannogram; Distribution of food and necessities to flood- affected people in villages of Raigad & Ratnagiri District.

Rural Development & Women Empowerment:

Bank is undertaking various social activities through Rural Development Centre (RDCs) and two trusts of Bank i.e. Mahabank Agricultural Research and Rural Development Foundation (MARDEF) and Gramin Mahila Va Balak Vikas Mandal (GMBVM) in the areas of Agriculture, Rural development & women empowerment.

a) Trainings through Mahabank Rural Self Employment Training Institutes (MRSETIs)

• During FY 2021-22 Bank imparted EDP & skill based training to 4044 trainees as against set target of 3797.

• A total of 3409 new businesses were started by these trained entrepreneurs, showing settlement ratio of 84.30%; 2114 units are credit linked, showing 62.01 % achievement under credit linkage.

• All RSETIs of our Bank are "AA" Graded for FY 2020-21 by NACER.

• Mahabank RSETIs started to conduct unique training program apart from their regular Training Programs which will include training for jail inmates. This programme objective is not only to provide inmates with vocational knowledge and skills, but also to strengthen their will to work, sense of self-help and spirit of cooperation This program will comprise of two parts. In first part MRSETIs will try for reformation of jail inmates through skill development training and in second part we will work on rehabilitation of Jail Inmates

• MRSETIs have organized various programmes under ‘‘AZADI KA AMRIT MAHOTSAV'' like FIT India Freedom Run, Entrepreneurship Mobilization camps, Blood donation camps. Pledge for Eye Donation camps etc.

b) Other initiatives SHGs

• Bank is undertaking various social activities through Rural Development Centre (RDCs) and two trusts of Bank i.e. Mahabank Agricultural Research and Rural Development Foundation (MARDEF) and Gramin Mahila Va Balak Vikas Mandal (GMBVM) in the areas of Agriculture, Rural development & women empowerment.

• Bank received National Award for best performance in SHG financing under DAY NRLM for FY 2019-20

• Bank is also implementing the social security schemes of Govt. like PMJJBY, PMSBY, APY, etc. through Branches, BCs and other digital modes.

• GMBVM provided skill based training to rural women for self-employment activities like Agarbatti, Candles, etc. to empower them for starting new business. These women are running their business on individual as well as through SHGs.

7. LEAD BANK SCHEME

7.1 Lead Bank Scheme

The Bank has Lead Bank responsibility in seven districts of Maharashtra State viz. Aurangabad, Jalna, Nasik, Palghar, Pune, Satara and Thane. Every year District Credit Plans for the districts are prepared and implemented with the cooperation of other Member Banks as well as in coordination with District Collectors of respective Districts.

7.2 State Level Bankers' Committee

The Bank is the Convenor of State Level bankers' Committee (SLBC) for the State of Maharashtra.

SLBC prepares State Annual Credit Plan in consultation with Lead District Managers, Member Banks, NABARD, Reserve Bank of India, etc. The Priority Sector plan for the year 202122 was of Rs. 4,,61,080 crore, which was one of the highest credit plan in the country. The same was approved in a special meeting held under the Chairmanship of Hon'ble Chief Minister of Maharashtra.

SLBC also ensures holding of quarterly meetings regularly to review the implementation of State Annual Credit Plans, Priority Sector lending and Govt. sponsored schemes in the State. Apart from regular SLBC meetings, Sub-Committee meetings as per guidelines as well as various other meetings are also organized by SLBC to coordinate between various Member Banks, State Government, Government Agencies, Reserve Bank of India, NABARD and the Central Government. SLBC, Maharashtra is having a network of more than 16,500 bank branches in the state.

SLBC has always been very proactive in the event of natural calamities if any, by issuing necessary guidelines in respect of relief measures, particularly for the year dissemination of COVID-19 related advisories, organizing special meetings through virtual mode and guiding the members, whenever necessary.

In case of specific events like announcement of Debt Waiver Scheme, Relief Package for helping poorer sections of the society in the event of outbreak of a pandemic, SLBC coordinates between Member Banks and State / Central Governments for successful implementation of various measures / schemes.

As a SLBC convener, Bank of Maharashtra coordinated for implementation of Pradhan Mantri Jan Dhan Yojana (PMJDY) in the State of Maharashtra. As of 31.03.2022, total of 314 lakh PMJDY accounts have been opened in the State. The process of opening of PMJDY accounts is continued. SLBC also coordinates implementation of other Social Security Schemes of the Central Government in the State.

7.3. FINANCIAL INCLUSION / PMJDY: (FI)

Particulars 2020-21 2021-22
FI Plan No of Transactions by BCA (in lakhs) 186.01 196.82
Amt of transactions (in Cr) 12,896.05 14,624.74
PMJDY No. of PMJDY accounts (in lakhs) 68.15 71.64
Of Which Aadhaar Seeded (in lakhs) 62.80 66.55
% OF Aadhaar Seeding (in lakhs) 92.10% 92.90%
Of Which Mobile Seeding (in lakhs) 56.47 59.56
% of Mobile Seeding (in lakhs) 82.86% 83.14%
Of Which Ru-Pay Card issued (in lakhs) 26.71 33.56
% of Ru-Pay Card issued (in lakhs) 39.20% 46.85%
Balance in PMJDY A/c (in Cr) 2,545.14 2,617.43
Average Bal. per account (actual) 3735 3654
PMJDY - OD Count (in lakhs) 2.66 1.83
PMJDY - OD Amount (in lakhs) 3,202.08 2,023.48
Zero Bal. PMJDY A/cs (in lakhs) 11.47 13.51
Social Security Schemes Enrolment under PMJJBY (in lakh) 16.41 19.10
Enrolment under PMSBY (in lakh) 31.12 37.90
Enrolment under APY (in lakh) 2.83 4.14
BSBD Accounts Total BSBD Accounts (in lakhs) 93.53 93.34
O/S Balance in BSBD A/c (in Cr) 3,223.00 3,272.24
Average bal. per account (actual) 3,445 3,506
Commission Paid towards BC Services (in Crore) 34.23 38.64

8. SUBSIDIARIES/JOINT VENTURES AND SPONSORED INSTITUTIONS:

8.1 Performance of Regional Rural Bank

Maharashtra Gramin Bank (MGB) is a Regional Rural Bank sponsored by the Bank, having its Head Office at Aurangabad, Maharashtra State. Total no. of branches as on 31/03/2022 stood at 415 in its area of operation covering 17 out of 36 districts of Maharashtra state. These branches are controlled through the 7 Regional Offices.

All 415 branches and controlling offices are now under CBS Performance highlights of Maharashtra Gramin Bank for the FY 2021-22 are as under:

• Bank has achieved total deposit level to Rs 14,677.75 Crore and the CASA is 51.54 %.

• Bank has achieved total Business of Rs 22,706.71 Crore

• Bank has achieved operating profit of Rs 116.83 Crore Bank has achieved most of the targets under MoU DAP given by sponsor Bank for the financial year 2021-22 in major key performance areas as under.

Sr. Performance No. Parameter Actual as on 31/03/2021 MoU Target Actual as on 31/03/2022 % Achie vement Y-o-Y Growth(%)
1. Total Deposits 13,540.64 16,000 14,677.75 91.74 8.40
2. CASA deposits 7,736.11 9,200 7,565.05 82.23 (2.21)
3. % of CASA Deposits 57.13% 57.5 51.54% 89.63 (9.78)
4. Total Advances 7,142.06 8,800 8,028.96 91.24 12.42
5. Total Business 20,682.7 24,800 22,706.71 91.56 9.79
6. Interest Income 979.49 1,090 803.96 73.76 (17.92)
7. Non-Interest Income 167.82 150 171.84 114.56 2.40
8. Operating Profit 261.7 321 116.83 36.40 (55.36)
9. Recovery in Write Off 11.52 11 8.94 81.27 (22.40)

Bank has deployed in all 1,275 Business correspondents in rural areas to provide door step service to the customers. Bank has opened 26.51 Lakh PMJDY accounts till 31/03/2022 and 12.25 Lakh debit cards are issued to the PMJDY account holders.

Bank is actively participating in PMJJBY, PMSBY and APY as well as the PMMY scheme declared by the GoI, DFS. During FY 2021-22, 3.40 Lakh customers are covered under PMJJBY scheme and 11.33 Lakh customers are covered under PMSBY scheme. 1.61 Lakh customers are covered under Atal Pension Yojana (APY).

PFRDA has appreciated the work done by the bank in the APY and the Bank has received 10 awards in the different parameters during FY 2021-22.

8.2 Performance of METCO

The Maharashtra Executor & Trustee Company Pvt. Ltd ., the 100% subsidiary of Bank of Maharashtra was established in 1946 with an aim to provide services auxiliary to banking such as:

• Consultation, Drafting & Execution of will

• Consultation, Drafting and Management of private Trusts / Public Trusts

• Management of investments & house properties as attorney

• Guardianship of minor's Property

• Consultation for sale/purchase of property

The company is located at Pune having its branch units at Pune, Mumbai, Thane and Nagpur. It is managing about 1,117 Public & Private Trusts. During FY 2021-22, additional 76 wills were added making total 1,311 will in its custody for execution. At Present, the company manages properties both movable and immovable of 21 Clients under the Power of Attorney. The Company also acts as the Trustee in respect of 99 policies under Married Women's Property Act and as court appointed Guardian of Minor's property in 2 cases. The company also acts as Managing Trustee of nearly 20 trusts and catalysts its social responsibility by extending help to poor people.

Company has followed all the instruction regarding safety during COVID -19 ISSUED BY Government of India/ Ministry of corporate affairs. The Company has also donated through its trusts Rs.184 lacs to 767 beneficiaries.

The net profit of METCO for FY 2021-22 stood at Rs. 54.58 lakh after Income Tax Provisions.

9. IMPLEMENTATION OF OFFICIAL LANGUAGE POLICY

During FY 2021-22, the Bank has achieved various remarkable achievements in the field of Official Language implementation:

i. Bank was awarded "Rajbhasha Kirti Puraskar" for better implementation of Rajbhasha Hindi, which is the highest award for Rajbhasha. Shri A. S. Rajeev, Managing Director & CEO, Bank of Maharashtra received this prestigious award at the hands of Hon'ble Minister of State for Home Affairs, Shri Nisith Pramanik in a grand function arranged at Vigyan Bhawan, New Delhi on 14th September, 2021.

ii. Bank was awarded "Skoch Gold Award" for Better Implementation of Rajbhasha and became the first bank to receive this award for implementation of official language. Shri Radhey Shyam Bansal, General Manager, HRM & Rajbhasha has received this award in a virtual function.

iii. Bank was awarded "Vishesh Puraskar" by the Mumbai based prestigious institution ‘Aashirwad' for better use of Hindi during the year.

iv. Our Kolkata Zonal Office received second prize for Eastern Region in Regional Rajbhasha Puraskar from Department of Official Language, Ministry of Home Affairs.

v. Town Official Language Implementation Committee (TOLIC) Mumbai has secured special prize for better use of Hindi by Govt. of India, Department of Official Language, Ministry of Home Affairs. Our Bank is the convener for this Committee.

vi. Various Town Official Language Implementation Committees (TOLIC) convened by other Banks awarded our Kolkata, Hyderabad, Noida & Amravati Zonal Offices for excellent implementation of Official Language.

vii. Monthly Rajbhasha e-Magazine ‘Rajbhasha E-Pragati' and Quarterly House magazine ‘Mahabank Pragati' are being regularly published. As a new initiative Rajbhasha E-Pragati in Brail script is also published for the benefit of visually challenged employees of the Bank.

viii. Bank is the convener Bank for Town Official Language Implementation Committee (TOLIC) in Mumbai, Pune, Solapur, Latur & Jalgaon. Meetings of these committees were held regularly during the year and various activities of the committees were organized throughout the year as per schedule.

ix. "Hindi Karya Diwas" (Hindi Working Day) is being observed by all the branches & offices of the Bank on the third Saturday of every month. All the staff are doing their maximum work in Hindi on this day.

x. Hindi version of Bank's mobile banking platform Maha- Mobile has been made available. Information on Bank's website are also provided in Hindi.

xi. The facility of "Online Rajbhasha Kosh" & "Online Hindi Roster" is made available on bank's Intranet for the use of employees.

xii. "WhatsApp Banking Various Language Facility" was launched by Shri A. S. Rajeev, MD & CEO during the Annual Rajbhasha Conference. Customers can now avail WhatsApp Banking facility in Hindi and English as well as Marathi, Tamil, Malayalam etc.

xiii. Hindi day function was arranged at Head Office, Pune on 27th September, 2021. Shri A. S. Rajeev, Managing Director & CEO of the Bank presided over the function. Shri Hemant Tamta, Executive Director, Shri A. B. Vijayakumar, Executive Director and General Managers were also present in the function. Winners of the All India Rajbhasha Trophy Scheme of the Bank were awarded during the function. All the Zonal Managers and Official Language Officers from the Zonal Offices across the country joined this program through video conferencing.

10 SECURITY

The Bank has put in place a comprehensive Security Policy covering the entire Security arrangements in the Bank. The policy covers the following:-

• Protect the bank's assets such as Cash, Gold, Documents and Valuables at branches, Administrative offices, Currency chests, Data Centre, other critical centres and Security measures for Cash and Valuables.

• Create a secure, safe and conducive environment for Staff, visitors and customers to conduct smooth and normal banking business.

• Measures to counter manmade disasters and natural calamities.

During FY 2021-22, proactive steps were taken on the physical security requirements in the Bank after analysis of the threat perception, current crime scenario, crime pattern, modus operandi of bank robberies, breaches of security and fire incidents besides equipping and training the security personnel and other bank staff to counter any eventuality.

11. PERFORMANCE EVALUATION OF THE DIRECTORS AND THE BOARD:

In terms of Regulation 25 of SEBI LODR, 2015, the performance of the Board as a whole and non-independent directors including Whole Time Directors were evaluated by the Independent Directors of Bank in a separate Meeting held on 30th March, 2022.

Further, the performance evaluation of Whole Time Directors is carried out by Committee of Board for Performance Evaluation on the basis of guidelines prescribed by Government of India. Further, Performance of non-official Directors/ Shareholder Director is done by Board of Directors of Bank on annual basis.

12. DECLARATION BY INDEPENDENT DIRECTORS DURING THE YEAR:

All the Independent Directors of Bank have submitted the declaration confirming that they meet the criteria of independence as required under Regulation 25 of SEBI (LODR) Regulations, 2015.

13. BOARD AND ITS SUB-COMMITTEES:

The composition of the Board and its Sub-committees as required to be constituted as per the SEBI (LODR) Regulations, Government of India / Reserve Bank India Guidelines and the meetings held therein are mentioned in the Corporate Governance Report.

14. SECRETARIAL AUDIT:

Pursuant to Regulation 24A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Circular No. CIR/CFD/CMD1/27/2019 dated February 08, 2019, Bank had appointed M/s.Joshi & Joshi, Practicing Company Secretaries, Pune as a Secretarial Auditor to undertake Secretarial audit of Bank for the financial year 2021-22. The Secretarial Audit Report is annexed to this Report.

The Secretarial Auditor has observed that provisions of Regulation 17(1) of SEBI (LODR) Regulations, 2015 with regard to Composition of the Board of Directors (including one Independent Woman Director) have not been complied with during the financial year. In regard to above, it was explained that Bank of Maharashtra, being a Government of India Undertaking, the power to appoint Directors vests with the Government of India except the appointment of Shareholder Director and the Bank has taken up with the Government of India for appointment of requisite number of Directors (including one Independent Woman Director) against the existing vacancies of Directors on Board of Bank.

Further, composition of Audit Committee and Nomination &

Remuneration Committee have been complied with SEBI

(LODR) Regulations, 2015 w.e.f 20th January, 2022.

15 DIRECTORS' RESPONSIBILITY STATEMENT:

The Directors confirm that in the preparation of the annual accounts for the Financial Year ended March 31,2022:

a) The applicable accounting standards had been followed along with proper explanation relating to material departures, if any;

b) The accounting policies framed in accordance with the guidelines of RBI were followed and the directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Bank at the end of the financial year and of the profit and loss of the Bank for that period;

c) The directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of applicable laws to the Bank for safeguarding the assets of the Bank and for preventing and detecting fraud and other irregularities;

d) The directors had prepared the annual accounts on a going concern basis

e) The directors had ensured that internal financial controls followed by the Bank are in accordance with guidelines issued by RBI in this regard and that such internal financial controls are adequate and were operating effectively.

f) The directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

16 CHANGES IN THE BOARD OF DIRECTORS:

During FY 2021-22, the following changes took place in the

Board of Directors:

• Shri Hrisheekesh Modak was appointed as Government of India Nominee Director of Bank by the Central Government w.e.f. 13.05.2021 in place of Mrs. Vandita Kaul, who ceased to be GOI Nominee Director of Bank on 12.05.2021.

• Shri Rakesh Kumar was elected as Shareholder Director w.e.f. 30.06.2021 for a period of three years consequent to completion of term of Shri R. Thamodharan as Shareholder Director of Bank on 29.06.2021.

• Shri Lalit Kumar Chandel was appointed as Government of India Nominee Director of Bank by the Central Government w.e.f. 18.08.2021 in place of Shri Hrisheekesh Modak, who ceased to be GOI Nominee Director of Bank on 17.08.2021.

• Shri Shashank Shrivastava was appointed as Part time non official Director of Bank by the Central Government w.e.f. 21.12.2021 for a period of three years.

• Shri S Baljit Singh was appointed as Part time non official Director of Bank by the Central Government w.e.f. 21.12.2021 for a period of three years.

• Shri Asheesh Pandey was appointed as an Executive Director of Bank by the Central Government w.e.f.

31.12.2021 for a period of three years in place of Shri Hemant Tamta, who ceased to be Executive Director of Bank on 30.12.2021 on completion of his term.

17 DIVIDEND DISTRIBUTION POLICY:

In terms of Clause 43A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Bank has formed a Dividend Distribution Policy and the same is available on the Bank's website i.e. https://bankofmaharashtra.in

18 BUSINESS RESPONSIBILITY REPORT:

As per the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Business Responsibility Report (BRR) 2021-22 of the Bank is available on the Bank's website i.e. https://bankofmaharashtra.in

19 ACKNOWLEDGEMENT:

The Board of Directors place on record their appreciation for the contribution made by the outgoing Directors.

The Board of Directors wishes to express sincere gratitude to the Government of India, the Reserve Bank of India, the Securities and Exchange Board of India, Insurance Regulatory and Development Authority, Indian Banks' Association, Stock Exchanges and Depositories for their valuable advice, guidance and support; to the Customers and Stakeholders for their patronage; to the correspondents and associates for their co-operation and to all the members of staff of "Mahabank Family" for their unstinted commitment and contribution to the overall development of the Bank.

For and on behalf of the Board of Directors
Pune (A.S. RAJEEV)
Date : 25th May 2022 Managing Director and CEO

   

Bank of Maharashtra Company Background

A S Rajeev
Incorporation Year1935
Registered OfficeLokmangal,1501 Shivajinagar
Pune,Maharashtra-411005
Telephone91-20-25511360,Managing Director
Fax91-20-25533246
Company SecretaryChandrakant Bhagwat
AuditorBatliboi & Purohit/Abarna & Ananthan
Face Value10
Market Lot1
ListingBSE,MSEI ,NSE,
RegistrarMCS Share Transfer Agent Ltd
A-209 C Wing 2nd Flr,Gokul Indl Est Bldg.,Andheri East ,Mumbai - 400059

Bank of Maharashtra Company Management

Director NameDirector DesignationYear
Chandrakant Bhagwat Company Sec. & Compli. Officer 2022
A S Rajeev Managing Director & CEO 2022
Manoj Kumar Verma Nominee (RBI) 2022
B Vijaykumar A Executive Director 2022
Asheesh Pandey Executive Director 2022
Sardar Baljit Singh Non Official Director 2022
Lalit Kumar Chandel Nominee (Govt) 2022
Shashank Shrivastava Non-official Director 2022
Rakesh Kumar Director (Shareholder) 2022

Bank of Maharashtra Listing Information

Listing Information
BSE_500
BSE_PSU
CNX500
BSESMALLCA
PSUBANK
CNXSMALLCA
BSEALLCAP
BSEFINANCE
SML250
MSL400
NFTYMSC400
NFTYSC50
NFTYSC250
NF500M5025

Bank of Maharashtra Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
Interest/Discount on Adv Rs.0007153.9292
Income on Investments Rs.0004153.4046
Interest on bal with RBI Rs.000315.0738
Others Rs.000246.1332

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