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, 2018.
1. MANAGEMENT DISCUSSION AND ANALYSIS
1.1 Economic and Banking Scenario 2017-18:
In 2017-2018, global economic growth is estimated to have reached 3.0
per cent, a significant acceleration compared to growth of just 2.4 per cent in 2016-2017,
and the highest rate of global growth recorded since 2011. Labour market indicators
continue to improve in a broad spectrum of countries.
India has emerged as the fastest growing major economy in the world as
per the Central Statistics Organisation (CSO) and International Monetary Fund (IMF) and it
is expected to be one of the top three economic powers of the world over the next 10-15
years, backed by its strong democracy and partnerships. India's GDP is estimated to
have increased 6.6 per cent in 2017-18 and is expected to grow 7.40 per cent in 2018-19.
Steps to abolish of Foreign Investment Promotion Board and reforms in FDI policy have been
taken to attract higher FDI. India's growth story remain robust despite disruptions
during this financial year like GST Implementation and Demonitization. The bank
recapitalization plan by Government of India is expected to push credit growth in the
country to 10 per cent.
1.2 Outlook for 2018-19
Global growth forecasts for 2018 and 2019 have been revised upward by
0.2 percentage point to 3.9 percent and 4.0 percent respectively on account of stronger
activity and robust global demand. The improvement in global economic conditions offers
greater scope for policymakers to shift from a short-term focus that is inevitably part of
coping with crises, towards addressing longer-term challenges and eliminating deep-rooted
barriers to development.
On the domestic front, IMF has projected Indian economy to grow at 7.4%
in FY 19 and 7.8% in FY 2020, with inflation expected to be around 4.96%. Economic
activity is expected to accelerate with the strengthening of investment activity,
supported by consumption demand and robust credit growth.
The private consumption expenditure is expected to receive a boost from
remonetisation and lower borrowing costs. Rise in crude prices could however play a
spoilsport.
Union Budget 2018 was the first budget after big-ticket economic
reforms like the Goods and Services Tax, dynamic fuel pricing and mega PSU bank
recapitalization. The various proposals in the Union Budget 2018-19 with regards to
launching of Operation Green, doubling farmer's income by 2022, focus on
Make-in-India products, boosting the rural economy and affordable housing and increase in
capital expenditure will act as a catalyst for growth.
Banking sector is also expected to be benefitted by the amendment in
Insolvency and Bankruptcy Code 2016 and the innovations in the form of massive adoption of
Artificial intelligence and Blockchain technology being undertaken by the fintech
companies.
2. Performance Highlights 2017-18
Your Bank was placed under Prompt Corrective Action (PCA) by RBI in
June 2017, in view of its high net NPA. Bank therefor had prepared or Monitorable Action
Plan for FY 17-18 to improve its position.
1. Total Business of your Bank stood at ` 233626 crore as on 31.03.2018
as compared to ` 240590 crore last year.
2. Total deposit stood at ` 138981 crore as compared to
` 139053 crore last year.
3. Average Deposits stood at ` 134294 crore as on 31.03.2018 as
compared to ` 133392 crore last year, registering a growth of 0.68% over last year.
4. CASA deposit stood at ` 66345 crore against last year figure of `
62419 crore (growth of 6.29%). Total CASA percentage stood at 47.74%.
5. Gross advances of the Bank stood at ` 94645 crore as on 31.03.2018
in comparison to ` 101537 crore as on 31.03.2017 as a result of Bank's policy to
focus more on retail advances instead of dependence on big corporate advances.
6. Operating Profit of your Bank reached ` 2191.42 crore as on
31.03.2018 as compared to ` 1827.07 crore last year.
7. Business per branch is ` 126.56 Crore as on 31.03.2018.
8. Business per employee is ` 18.07 crore as on 31.03.2018.
2.1 Sectoral Deployment of Credit
| Particulars |
O/s as
on 31.03.2018 ` crore |
Percentage to total O/s |
O/s as
on 31.03.2017 ` crore |
Percentage to total O/s |
| Industry |
44671.77 |
47.20% |
44811.65 |
44.13% |
| Of which |
|
|
|
|
| i. Infrastructure |
8927.06 |
9.43% |
9931.29 |
9.78% |
|
|
|
|
|
| ii. Chemicals, Dyes, Paints etc |
1930.20 |
2.04% |
3128.00 |
3.08% |
|
|
|
|
|
| iii. Petroleum |
341.74 |
0.36% |
1018.97 |
1.00% |
| iv. Iron and Steel |
4699.00 |
4.96% |
4975.65 |
4.90% |
|
|
|
|
|
| v. NBFCs and Trading |
14182.77 |
14.99% |
13784.69 |
|
|
|
|
|
13.58% |
| vi. Engineering |
3246.19 |
3.43% |
3537.38 |
3.48% |
| vii. Construction |
5.04 |
0.01% |
119.84 |
0.12% |
| viii. Other Industries |
11339.77 |
11.98% |
8315.83 |
8.19% |
| Agriculture |
15066.63 |
15.92% |
15491.45 |
15.26% |
| MSME |
16283.00 |
17.20% |
20419.50 |
20.11% |
| Housing |
13572.69 |
14.34% |
13595.25 |
13.39% |
| Education |
995.25 |
1.05% |
891.05 |
0.88% |
| Exports |
1209.66 |
1.05% |
1212.71 |
1.19% |
|
|
|
|
|
| Commercial Real estate |
3189.00 |
3.37% |
5115.21 |
|
|
|
|
|
5.04% |
| Gross Advances |
94645.00 |
146.97% |
101536.82 |
144.13% |
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.
The Bank has also set up separate Cells at its Head Office for
identification of Wilful Defaulters, increasing recovery in Written Off accounts, gearing
up the actions under DRT / SARFAESI
Acts.
Bank has been implementing Suo Motu non-discriminatory and
non-discretionary One Time Settlement (OTS) Schemes. During 2017-18, the Bank introduced
following such OTS schemes:
1) "Ghar Ghar Dastak Yojana" (GGDY) was introduced for
Small NPA borrowers up to ` 10 lakhs.
2) "MahaMukti – 2017-18 (A)" and "MahaMukti
– 2017-
18 (B)": These schemes were introduced for NPAs having ledger
balance above ` 10 lakhs up to ` 1 crore and ledger balance above ` 1 crore up to ` 25
crore respectively.
3) "Mahabank Karjmukti Yojana: an OTS scheme for recovery
in Regular Written Off (RWO) a/cs up to Rs 25 lakhs introduced in previous year was
continued during 2017-18.
4) CSMSSY-2017: The Government of Maharashtra announced a loan
waiver scheme, named as "Chhatrapati Shivaji Maharaj Shetkari Sanman Yojana
2017" (CSMSSY-2017) for farmers in the State of
Maharashtra. The Bank introduced a scheme for one time settlement of
Specified NPA accounts under
CSMSSY - 2017 as proposed by Government of Maharashtra.
Resolution Agents are appointed on selective basis in case of
NPA a/cs with dues of ` 1.00 crore to ` 10.00 crore; so as to have an early resolution.
For increasing recovery in smaller NPA accounts (up to ` 25 lakhs) the services of Recovery
Agents are engaged.
Bank has also made intensive follow up with the defaulting borrowers
through visits, letters, notices, Recovery Camps,
Lok Adalats, actions under SARFAESI / DRT Act. 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;
(` in crore)
|
Amt. as on |
Amt. as on |
Percentage |
| Particulars |
|
|
|
|
31.03.18 |
31.03.17 |
(+/-) |
| Gross NPA |
18433 |
17189 |
7.24% |
| % to Gross advances |
19.48% |
16.93% |
XXX |
| Net NPA |
9641 |
11230 |
(14.14)% |
| % to Net advances |
11.24% |
11.76% |
XXX |
| Cash Recovery |
1960.51 |
876.42 |
123.70% |
| 2.3 Foreign Exchange Business |
|
|
(` in crore) |
|
|
|
Percentage |
| Particulars |
2017-18 |
2016-17 |
|
|
|
|
(+/-) |
|
|
|
|
| Total FEX Business Turnover |
589806 |
598503 |
-1.45% |
|
|
|
|
|
|
|
|
| Merchant Business Turnover |
30687.93 |
36851.97 |
-16.72% |
|
|
|
|
|
|
|
|
| Profit in FEX Business |
110.16 |
101.91 |
8.10% |
|
|
|
|
Bank has 35 "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.
2.4 Investment
The breakup of Investments into SLR & Non-SLR investments is given
below:
The Gross Investments as on 31.03.2018 stood at Rs
44162.86 crore, of which ` 34469.75 crore are SLR securities and `
9693.11 crore are Non-SLR Securities. The excess SLR securities as on 31.03.2018 stood at
Rs 7085.16 crore.
The net investments (net of provisions) stood at
` 43622.80 crore as on 31.03.2018 as compared to
` 38590.18 crore as on 31.03.2017. Investments under
Held to Maturity (HTM) category consist of 69.82%, while
Available for Sale (AFS) comprised of 30.17% of total investment
portfolio as of 31.03.2018. The net interest income from investment activity increased to
` 2962.41 crore from ` 2829.47 crore during the last year (growth of 4.70%).
The Non-Performing Investments stood at ` 738.10 crore as on
31.03.2018.
2.5 Merchant Banking:
The Bank handled 75 issues (previous year 70 issues) of
Commercial paper amounting to ` 36445 crore (previous year
` 30170 crore) for its clients as an Issuing and Paying Agent (IPA)
during the year.
2.6 Borrowings:
The borrowing of the Bank as on 31st March 2018 stood at
` 4063.71 crore including re-finance as under;
| Particular |
Amount
as at |
Amount
as at |
Percentage |
|
|
|
(+/-) |
|
31.03.2018 |
31.03.2017 |
|
| 1. Total Borrowing |
4063.71 |
8136.65 |
(50.06) |
| 2. Borrowing under CBLO |
0.00 |
0.00 |
|
| 3. Refinance from: |
|
|
|
| 3.1 NABARD |
280.00 |
420.00 |
(33.33) |
| 3.2 EXIM BANK |
67.57 |
324.25 |
(79.16) |
| 3.3 RBI |
0.00 |
0.00 |
0.00 |
| 3.4 NHB |
185.26 |
277.89 |
(33.33) |
| 3.5 MUDRA |
182.53 |
370.81 |
(50.78) |
| 3.6 SIDBI |
0.00 |
1500.00 |
(100.00) |
| 4. Borrowings in the form of Bonds &
debentures capital instruments |
3300.00 |
5225.00 |
(36.84) |
| 5. Borrowings outside India |
48.31 |
18.65 |
159.00 |
|
|
|
|
| 6. Others |
0.05 |
0.05 |
0.00 |
During the FY 2017-18, Bank has redeemed Basel II /Basel III Compliant
Bonds for an amount of ` 1925.00 crore by exercising call option. Bank undertook borrowing
as part of its asset liability management.
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)
2.8 Bancassurance
Bank had 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 Feb.2018. We have added two more partners in life insurance
business i.e.
M/s Aviva Life Insurance Company and M/s Reliance Nippon Life Insurance
Company during FY 2017-18.
1241 branches are logged in as of 31.03.2018 for LIC
Bancassurance business.
Bank had created portal for Popularization of
Mahaswastya Yojana, all new as well as renewal of cases are done
through the portal in T+3 days. Now, the customer having internet banking facility can
make the payment online and generate the policy instantaneously.
This year, till 31.03.2018, 67 bank branches declared as
BIMA Branch.
During the year 2017-18, 5221 life policies and 148480 Non-Life
policies were made.
The Bank earned a commission of ` 6.00 crore from life insurance and `
9.20 crore from non-life insurance business during the year 2017-18.
2.9 Government Business
During the year 2017-18, 692312 challans of Direct Taxes and 97263
challans of Indirect taxes were collected by the branches. Our Branches are also
collecting other State Govt. taxes including GRAS of Maharashtra State and the total
number of Challans collected during the
Year is 1074402. Total commission to the tune of ` 7.20 Crore was
received on Tax collection business from
Central/State Government in current year compared to
` 5.64 crores collected in previous year.
As a service to senior citizens, the Bank is processing and crediting
monthly pension payments of more than 110914 Central Government, Defence, Railway and
Telecom pensioners at Central Pension Processing Cell (CPPC), Pune. The
commission on Government
Business (Pension) for the Year 2017-18 is ` 12.16 crore.
2.10 Income, Expenditure and Profitability
The total income of the Bank stood at ` 12602 crore in FY 2017-18 as
compared to ` 13570 crore in FY 2016-17 .
The detailed income/ expenditure components are as under:
|
|
|
(` in crore) |
|
|
|
|
| Particulars |
2017-18 |
2016-17 |
Variation (per cent) |
|
|
|
|
|
|
|
|
| Interest / discount on advances / bills |
7072.71 |
8469.96 |
(16.50)% |
|
|
|
|
| Income on investments |
2962.41 |
2829.47 |
4.70% |
|
|
|
|
| Interest on interbank lending & other Interest |
1061.30 |
762.53 |
39.18% |
|
|
|
|
| Total interest income |
11096.42 |
12061.96 |
(8.00)% |
| Non-interest income |
1506.06 |
1508.07 |
(0.13)% |
| Total Income |
12602.48 |
13570.03 |
(7.13)% |
| Interest on deposits |
7133.17 |
8075.59 |
(11.67)% |
| Interest on borrowings |
11.49 |
11.61 |
(1.03)% |
|
|
|
|
| Other Interest expenditure |
562.02 |
800.07 |
(29.75)% |
|
|
|
|
| Staff expenses |
1618.06 |
1807.29 |
(10.47)% |
|
|
|
|
| Other Operating expenses |
1086.32 |
1048.40 |
3.62% |
|
|
|
|
|
|
|
|
| Total Non-interest expenses |
2704.38 |
2855.69 |
(5.30)% |
|
|
|
|
| Total Expenses |
10411.06 |
11742.96 |
(11.34)% |
| Operating Profit |
2191.42 |
1827.07 |
19.94% |
| Provisions and |
|
|
|
| Contingencies |
3337.05 |
3199.58 |
4.30% |
|
|
|
|
| Net Profit |
(1145.65) |
(1372.51) |
(16.53)% |
2.11 Financial Ratios
| Particulars |
2017-18 |
2016-17 |
| EPS (`) |
(8.98) |
(11.75) |
| Cost to Income Ratio (percent) |
55.24 |
60.98 |
| Return on assets (percent) |
(0.73) |
(0.86) |
| Return on equity (per cent) |
(42.43) |
(24.92) |
| Book value per share (`) |
23.73 |
46.96 |
| Profit per Branch (` in lakh) |
(62.06) |
(72.35) |
| Profit per employee ( ` in lakh) |
(8.86) |
(10.58) |
| Business per Branch (` in crore) |
126.56 |
126.83 |
| Business per employee (` in crore) |
18.07 |
18.54 |
| Interest income as per cent to |
7.03 |
7.55 |
| Average working funds |
|
|
| Non-Interest income as per cent to average
working funds |
0.95 |
0.94 |
|
|
|
| Net Interest Margin (per cent) |
2.32 |
2.16 |
| Operating Profit as per cent to average
working Funds |
1.39 |
1.14 |
|
|
|
| Staff expenses as a percent to average
working funds |
1.03 |
1.13 |
|
|
|
| Net worth (` Crore) |
6159.92 |
5486.47 |
| CRAR (%) (Basel II) |
11.00 |
11.18 |
| Of which, Tier I CRAR (%) (Basel II) |
9.01 |
9.01 |
2.12 Capital from Government of India
The Government of India has infused total additional capital of
` 3173 crore in two tranches; ` 650 crore on 29.12.2017 and
` 2523 crore on 27.03.2018.
2.13 Networth
The Bank's Net Worth increased from ` 5486.47 crore as on
31.03.2017 to ` 6159.92 crore as on 31.03.2018.
2.14 Capital Adequacy Ratio
The Capital Adequacy ratio stood at 11.003 % as on 31.03.2018, against
the minimum of 10.875 % (including CCB) prescribed by RBI in terms of Basel III norms. The
Common Equity Tier 1
Ratio stood at 8.974 %.
2.15 Dividend : Your Board do not propose any dividend for the FY
2017-18, as the Bank has incurred loss.
3. Resources: Branch network, Human Resources, IT
infrastructure, customers responsiveness and others
3 .1 Branch/ATM Network:
As on 31.03.2018, the total branch network comprised of 1846 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.
Area wise classification of branches as on 31.03.2018 is given in the
table below:
| Classification |
As on 31.03.2018 |
As on 31.03.2017 |
|
|
|
| 1 Rural |
616 |
618 |
| 2 Semi-Urban |
427 |
434 |
| 3 Urban |
329 |
343 |
| 4 Metro |
474 |
502 |
| Total |
1846 |
1897 |
As part of Bank's endeavor to curtail its operating expenses, Bank
has merged 51 branches during the year, which were in close vicinity of each other,
ensuring that no discomfort was caused to the customers.
ATM NETWORK
|
31.03.2018 |
31.03.2017 |
| Offsite |
559 |
587 |
| Onsite |
1305 |
1291 |
| Total |
1864 |
1878 |
3.2 Human Resources Management
The Bank has put in place a comprehensive HRM Policy 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 the year 2017-18 the Bank has recruited
employees as under:
333 Officers in Scale I, 6 Security Officers in Scale II, 22 Chartered
Accountants in Scale II, 3 Officers-Admin in Scale II, 7 Officers-Admin in Scale III &
1 Scale IV officer in Risk Management Dept. The Bank has also recruited 388 Clerks &
13 Sub-staff.
During the year, 930 employees ceased to be in service on account of
retirement, VRS, resignation, termination and death. Inter scale promotions of officers
were carried out during 2017-
18. Following number of candidates were promoted.
| JMGS-I TO |
MMGS-II to
MMGS |
MMGS-III TO
SMGS- |
SMGS- IV TO |
SMGS-V TO
SMGS- |
SMGS-VI TO
TEGS- |
|
|
|
|
|
|
| MMGS-II |
III |
IV |
SMGS-V |
VI |
VII |
| 324 |
136 |
53 |
38 |
13 |
5 |
During the year 2017-18, 89 Substaff were promoted to Clerical cadre
and 55 Part Time Sub-staff employees were absorbed in Sub-staff cadre, 196 Clerks were
promoted to Scale I Officer.
Cadre wise staff position as of 31.3.2018 with sex ratio is as under:
| Category |
Male |
% |
Female |
% |
Total |
| Officers |
4751 |
72.89 |
1767 |
27.11 |
6518 |
| Clerks |
2986 |
64.37 |
1653 |
35.63 |
4639 |
| Sub-staff |
1586 |
89.35 |
189 |
10.65 |
1775 |
| Total |
9323 |
72.09 |
3609 |
27.91 |
12932 |
The top three branches in disbursement and recovery of advances to
SC/ST community were awarded Rolling Trophy in name of Bharat Ratna Dr. Babasaheb
Ambedkar.
The Bank has healthy industrial relations.
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 ex-servicemen. The Bank has designated Chief
Liaison Officers at Head Office and has set up SC/ST Cells at all Zonal Offices. During
the year periodical meetings were held with SC/ST/OBC Employees
Association to discuss implementation of reservation policy and other
constitutional safe guards and also to facilitate involvement in business growth.
Compassionate Appointments - A Scheme for ‘Compassionate
Appointments' / Payment of Ex-gratia lump-sum 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 and payment of Ex-gratia lump-sum amount for the FY 2017-18 is as under:
| Compassionate Appointments |
|
Payment of Exgratia |
|
|
|
|
| Cadre |
No.of employees |
No.of employees |
Amount paid |
|
|
|
|
| Clerk |
9 |
– |
– |
| Substaff |
12 |
3 |
` 15.15 Lacs |
The Contributory Group Insurance Mediclaim Policy for all
employees including retired employees, has been renewed w.e.f. 1.4.2018 and the Sum
insured is upto ` 10.00 Lacs for existing employees. The details of renewal of policy are
as under:
| Employees |
No.of Employees |
Premium paid |
| Existing |
718 |
100.38 Lacs |
| Retired |
1661 |
229.25 Lacs |
| Total |
2379 |
329.63 Lacs |
The reimbursement of examination fees & payment of cash
incentive / Honorarium in respect of courses from Indian
Institute of Banking & Finance, MBA from reputed Institutions &
CFA has been widened by adding courses in the list of courses for
reimbursement of fees thereby making total 27 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.
Training Activities:
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.
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 01.04.2017
to 31.03.2018 are as under-
| Cadre |
No. of
Programmes |
Training
Days |
Employees
Trained |
| Officers |
174 |
677 |
4852 |
| Clerks |
74 |
242 |
1637 |
| S/staff |
35 |
81 |
810 |
| Total |
283 |
1000 |
7299 |
3.3 Technology Initiatives
The Year 2017-2018 was a Technology Upscaling year for the Bank. The
Bank had taken up & successfully initiated / upscaled various Major IT Projects during
2017-18 which are enumerated as under:
1. Bank has implemented 400 Self Update Pass Book Printer
Kiosks & 106 Bunch Note Acceptor Machines at various locations
across the Bank. The same shall be continued to ensure fulfilment of customer
requirements/satisfaction.
2. CBS Contract has been renewed for a period of 5 years from
01/10/2017 to 30/09/2022 with revamped CBS Front-end and additional components viz.
Automated Testing, Batch Job Automation, On-line Training for staffs, Revenue Leakage
Monitoring etc.
3. Bank has tied up with BSNL for upgrading the Bandwidth of the
existing Leased Lines to 2 Mbps. As on 31/03/2018, Bandwidth of 1329 leased lines is
upgraded to 2 Mbps.
4. Bank is actively promoting BHIM Aadhaar Pay payment channel and
28104 Merchants are on-boarded as on 31/03/2018.
5. Centralized e-Surveillance system is implemented at 240 more ATMs
taking the total count to 460 ATMs being covered under this system; ensuring safety and
security of ATMs & Customers.
6. Integration of SWIFT with CBS System has been done as per RBI
Timeline.
7. Bank under special project of DBT (Direct Benefit Transfer) had
issued 99,764 Prepaid Cards to Pune Municipal Corporation during Apr-June 2017 Quarter for
distribution to students of which 94,510 cards are activated. In respect of Nagpur
Municipal Corporation 20,000 cards were issued of which 11,168 cards are activated.
8. Bank has implemented Public Financial Management System (PFMS) which
is used by Government Agencies to make payments directly into the recipients Bank
Accounts. As on 31/03/2018, Bank had 39395 Accounts under PFMS.
9. ISO 27001:2013 Re-Certification is achieved by the Bank during July
2017, for its 4 IT Divisions, thereby continuing the
Quality ISMS (Information Security Management System) in our Bank.
Bank has collaborated with VISA for International Debit Cards and with
NPCI for Rupay Debit Cards. EMV Chip Debit Cards are being issued to existing customers in
place of Magnetic Stripe Cards as per RBI directives. As on 31/03/2018, 69.44
Lakh Debit Cards were issued, of which 25.40 Lakh are EMV Cards.
Customers can now obtain EMV Cards from any Branch of the Bank.
Various facilities are being provided through our Internet
Banking platform for facilitating online payment of taxes, utility bill
payments, online shopping / e-commerce, railway reservation, LIC premium payment, e-SBTR
etc and facility for viewing tax credit statement 26AS and Demat account with the Bank.
Bank has robust Information Security Management System (ISMS) framework
in place. Bank has also implemented major security initiatives recommended by
Gopalakrishna Committee for internal and external customers.
Bank has in place a captive Security Operations Centre (SOC) for
monitoring Critical IT Infrastructure on 24 x 7 basis. As per
RBI Directives, the same is being revamped to Cyber Security Operations
Center (CSOC), by 31/05/2018.
Centralized Processing Cell Liabilities (CPC-L), is functioning since
September 2014 & all branches of the Bank are now linked to CPC-L.
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), Bank
has adopted Code of Bank's Commitment to Customers 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 customer service, redressal of customer grievances and to ensure
customers satisfaction.
Full-fledged grievances Redressal machinery is 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.
|
|
|
| Particulars |
2017-18 |
2016-17 |
| 1 Customer complaints at the beginning of
the year |
54 |
73 |
| 2 Complaints received during the year |
8348 |
3246 |
| 3 Complaints redressed during the year |
8014 |
3265 |
| 4 Complaints pending at the end of the year |
388 |
54 |
3.5 KYC/ AML
Know Your Customer (KYC) norms / Anti Money Laundering (AML) standards
/ Combating of Financing of Terrorism (CFT) and Obligation of Bank under Prevention of
Money Laundering Act (PMLA) 2002.
The Bank has Board approved KYC-AML-CFT Policy in place. The said
Policy is the foundation on which the Bank's implementation of KYC norms, AML
standards and CFT measures is based. The KYC compliance entails staff education as well as
customer education for which the following measures are taken by the Bank.
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 to identify, measure, monitor and manage risk efficiently
and establish 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 Brand Image:
Our Bank with a view to develop Brand Image of Bank, publicizes
Bank's various products coupled with Corporate
Social Responsibilities.
Bank has extended Donations under its Corporate Social
Responsilibilities to National Sports Development Fund
(NSDF), Rotary Club Nigdi for the construction of water Tank in Nigade
Village, Balewadi Stadium for providing Water Coolers, "Shrutakevali Education
Trust" for Bahubali Children's Hospital,
Shravanabelagola, Karnataka, NAAM Foundation famous NGO working on
issues like education, infrastructure, employment, food etc.
3.8 Citizen's Charter:
The Bank has adopted the 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. Some of the important responsibilities of Branches are;
All branches of Banks in all parts of the country should provide
the following customer services, more actively and vigorously to the members of public;
Meeting the demands for fresh / good quality notes and coins of
all denominations;
Exchanging soiled notes;
Accepting coins and notes either for transactions or exchange;
Separate que for senior citizen.
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 through 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.
The outstanding advances under Priority Sector (including investment)
as of 31st March 2018, aggregate to ` 40709 crore constituting 38.63% of the Adjusted Net
Bank Credit (ANBC).
4.2 Agriculture
The Bank disbursed ` 5960 Crore for agriculture and allied activities
during the year 2017-18. The total outstanding advances to agriculture sector reached a
level of ` 17199 Crore as on 31.03.2018. Bank focused on growth of investment credit under
Agriculture during the year 2017-18 and disbursed
` 2627 Crore. Bank also entered into strategic tie-ups with Tractor
Manufacturers, Micro Irrigation Companies for promoting farm mechanization and micro
irrigation activities during the year. Bank has entered into an Agreement for Credit
Guarantee with Small Farmers Agri-Business Consortium
(SFAC)for (FPOs).
Bank is successfully implementing farm loan waiver scheme of
Govt of Maharashtra. Till 31st March 2018, bank has credited
` 1070. 93 crore to 1.91 lakh farmers' loan accounts under the
aforesaid scheme.
The Bank undertook awareness/sensitization programmes for all the
branches for increasing advances to agriculture by providing hassle free credit to
farmers.
4.2.1 Mahabank Kisan Credit Card (MKCC)
This scheme gained popularity especially in rural areas where it is
being propagated successfully and vigorously. The Bank has issued total 36495 Kisan Credit
Cards to farmers. Credit flow to MKCC beneficiaries has reached to the level of ` 7440.04
crore as on 31.03.2018.
4.3 Micro, Small and Medium Enterprises (MSME)
MSMEs are recognized as a major growth engine for the Indian economy.
They generate opportunities for direct and indirect employment by facilitating use of
natural resources and local skills to stem the tide of migration to urban areas and
promote low investment enterprises. Finance is made available to viable enterprises at an
attractive and low rate of interest. Online enquiry portal is made available on the Bank's
website.
Our Bank has adopted Simplified Loan Application for MSMEs and the same
is displayed on the Bank's website. The Bank has also adopted Bank's Code of Commitment to
Micro and Small Enterprise.
The Bank's lending to Micro, Small and Medium Enterprises
(Priority) is ` 16283 Crore as at 31.03.2018. Advances to Micro
enterprises under priority are 8.68% of ANBC against RBI mandatory target of 7.50% as of
March 2018.
For promoting finance under this category, Bank has entered into
strategic tie up arrangements with Truck / Vehicle /
Passenger car manufacturers. Bank has also entered into MoU with
"Bhartiya Yuva Shakti" Trust and "de-Asra" foundation for
Credit facilitation and hand holding of the Micro entrepreneurs
especially under Women and SC/ST categories. Bank has also partnered with
"myloanassochem.com" portal for generating leads and converting them into
business by financial assistance to MSMEs.
Centralized Processing Cells have been set up at all Zonal Offices for
speedy disposal of MSME proposals.
4.3.1 MUDRA:
With the introduction of Pradhan Mantri MUDRA Yojana
(PMMY) which mainly consists of non-farm enterprises in manufacturing,
trading and services whose credit needs are below ` 10.00 lakh. Bank is giving special
attention to this segment. Loans given to this segment for income generation are known as MUDRA
loans under Pradhan Mantri MUDRA Yojana (PMMY) and are branded accordingly.
Bank sanctioned ` 2153.10 crore under PMMY against the target of `
2325.00 crore as on 31.03.2018. Bank achieved 92.61% of target allotted by Government
under PMMY.
Bank has launched MUDRA Card on 16.9.2015 and issued 8621 MUDRA Cards
upto 31.03.2018.
4.3.2 Coverage under CGTMSE Scheme
Under Credit Guarantee Fund Scheme for Micro, Small and Medium
Enterprises of Government of India credit facilities up to ` 200.00 lakh are covered,
wherein no collateral security and third party guarantees are insisted by the Bank. The
Bank has sanctioned loans of ` 238.04 Crore to 2325 borrowers under this scheme up to
March 2018.
4.3.3 Banks exposure to select segments.
| Sector |
As on
31.03.2018 |
As on
31.03.2017 |
%
increase (+/-) |
| 1 Micro / SHG Finance |
151 |
155 |
(2.49) |
| 2 Weaker Sector |
11324 |
12190 |
(7.10) |
| 3 SC/ST beneficiaries |
2333 |
1738 |
34.23 |
| 4 Minority Community |
2887 |
2921 |
(1.16) |
5. IMPORTANT SCHEMES/ PROJECTS OF THE BANK
5.1. Credit Flow to Retail Sector
The Bank is providing retail loans for salaried persons, professionals,
businessmen and pensioners for purchase of house properties/ plots, repair/ renovation of
house, purchase of consumer durables, two/four wheeler vehicles, education and loan for
other personal needs. The retail loan portfolio of the Bank is ` 16549 crore.
|
|
(` in
Crore) |
|
|
Portfolio |
|
| Scheme |
Brief Description |
as of |
NPA % |
|
|
Mar'18 |
|
| 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 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" |
13573 |
3.59 |
| 2 Maha Super Car Loan Scheme and M a h a b
a n k vehicle Loan scheme |
Bank has launched scheme for purchase of
New four Wheeler i.e. Car, Jeep, Multi Utility Vehicles (MUVs), Small Utility Vehicles
(SUVs) etc. for personal use.(i.e. not for hiring/ ferrying passengers) for individuals
(18 years and above). |
1068 |
3.15 |
| 3 M o d e l E d u c a t i o n Loan Scheme |
Bank is implementing Model Education Loan
Scheme as per IBA guidelines and provides hassle free Education loan to all meritorious
and deserving Students (Indian National) for pursuing higher studies /education in India
and abroad |
995 |
8.91 |
| 4 M a h a b a n k Top up Loan Scheme |
In order to extend additional credit
support to existing housing loan borrowers as well as takeover of existing housing loan 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 etc. |
132 |
1.27 |
| 5 M a h a b a n k Gold Loan Scheme |
With a view to tap the potential of gold
loans as a lucrative asset and to cater to the needs of meeting other personal expenses,
whatsoever which include personal expenditure of varied needs like marriage, higher
education, medical emergencies, business travel etc, Bank has launched a retail loan
product as "Mahabank Gold Loan Scheme" w.e.f. 26.09.2014. |
103 |
2.49 |
| 6 M a h a b a n k Aadhar Loan Scheme |
To cater to the needs of our existing
pension account holders to meet their personal expenses, pilgrimage, medical, domestic
needs etc. Bank has re-launched "Mahabank Aadhar Loan Scheme". |
407 |
0.95 |
|
|
|
|
5.2. Centralized Processing of loans
Bank has established Centralized Processing Cells for retail /
commercial advances at all its 30 Zones for hassle free processing and sanctioning loans
with aim to improve turnaround time.
5.3 Door Step Banking Services
Bank has introduced Door Step Banking Services for its High Networth
Customers and the services include Corporate and Retail Cash pickup and delivery, Cheque
Collection Services, at Client's Doorstep.
5.4 BOM SBI International Credit Card
The BOM-SBI card base is 50064.
The commission received from SBI Card is ` 75.00 Lakhs during the
year 2017-18.
5.5 ALTERNATE DELIVERY CHANNELS 5.5.1 INTERNET /SMS/Phone Banking
In terms of transactions, there was an increase of 28% in Internet
Banking, 31% in Phone Banking and 33% in SMS banking over the previous year.
With continuous follow up and increase in net security through the
Mahasecure for IBN users, substantial rise in users/online transactions is expected.
5.5.2 MOBILE BANKING
Maha Mobile functionality has been customized and simplified for
increasing the enrolments.
A user manual on Internet Banking & New Maha Mobile
functionality is sent to field staff for ready reference & marketing of the technology
based products.
5.6 Tie Ups
5.6.1 Payment Gateway Services:
Presently, Bank is providing the facility of Payment Gateway to
all the customers through online aggregators as under:
1 M/s Atom Technologies
2 M/s BILL DESK
3 M/s EBS solutions limited
4 M/s Ibibo i.e. PAYU
5 M/s TimesofMoney Limited
6 M/s Airpay
7 M/s CC Avenues
8 M/s Citrus Payment Solutions Pvt Ltd
9 M/s PayTm
10 M/s Techprocess Payment Solutions
11 M/s SBI e pay
6. CORPORATE SOCIAL RESPONSIBILITY
The Rural Development Centers at Hadapsar- Pune and
Bhigwan in Pune District of Maharashtra have been undertaking various
rural developmental activities for the benefit of farmers' viz. Vermi compost,
Re-development of Saline Soils, Soil Testing etc. Bank has established Soil Testing Lab
(STL) through MARDEF Trust at RDC Bhigwan. The Soil Testing Laboratory analyzed 5506 Soil
and Water samples in the year
2017-18 and accordingly counseling was done. Farmers from the districts
of Pune, Ahmednagar, Solapur and Satara are taking benefit of the lab.
A Trust viz. Mahabank Agricultural Research and Rural
Development Foundation (MARDEF) established by the Bank, undertakes
various projects and village improvement programmes. MARDEF is imparting training to
farmers on various subjects in Agriculture. Trust has conducted 156 training programmes
for farmers at RDC Bhigwan and Hadapsar, which has benefited 10753 farmers from April 2017
to March, 2018.
The Bank has established Seven Mahabank Self Employment Training
Institutes (MSETI) for providing training to rural youth and women to enable them to
acquire skills for self-employment through small business enterprises. The Institute has
seven centers located at Pune, Nagpur, Aurangabad, Amravati
Jalna, Thane and Nasik. The Institute has so far conducted 1203
training batches & imparted training to 30307 educated unemployed youths. The
settlement rate is 70%.
Gramin Mahila Va Balak Vikas Mandal (GMVBVM), an NGO formed by Bank of
Maharashtra and National Institute of Bank Management is actively involved in formation,
nurturing, training and ensuring linkage of SHGs to Bank Credit.
The Bank has opened Financial Literacy and Credit Counselling Centers
(FLCC) in Seven Lead Districts namely Pune, Nasik, Aurangabad, Satara, Jalna,Thane and
Palghar for creating awareness about banking schemes. FLCCs have contacted 77141
beneficiaries during FY 2017-18.
Rural Self Employment Training Institutes (RSETIs) have conducted 198
training batches and trained 5061 candidates during FY 2017-18.
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
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 and prepares State Annual Credit Plan. The Priority Sector
plan for the year 2017-18 was for ` 2,90,829/- crore which is one of the highest 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 oversee the implementation of State Annual Credit Plans, Priority
Sector lending and Govt. sponsored schemes in the State. Apart from regular SLBC meetings,
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 coordinates a
network of more than 15,400 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, organizing special
meetings and guiding the members whenever necessary.
As SLBC convener, Bank of Maharashtra coordinated implementation of
Pradhan Mantri Jan Dhan Yojana (PMJDY) in the State of Maharashtra. A total of 221 lakh
accounts were opened in the State. The State has already been declared as saturated for
the purpose of opening of accounts. However, the process of opening of accounts is
continued. SLBC also coordinates implementation of other Social Security schemes of the
Central Government in the State.
S L B C Maharashtra has received award for highest Adhar seeding of
PMJDY accounts from Department of Financial Services, MOF, New Delhi.
7.3. FINANCIAL INCLUSION / PMJDY:
| Scheme |
Particulars |
2017-18 |
2016-17 |
| FI Plan |
No of Transactions by BCA (in lakhs) |
110.74 |
109.75 |
|
|
|
|
|
Amount of transactions (` in crore) |
5764.23 |
4702.81 |
|
|
|
|
| PMJDY |
No. of PMJDY accounts (in lakhs) |
51.57 |
42.28 |
|
|
|
|
|
Of Which Aadhaar Seeded |
42.57 |
33.18 |
|
|
|
|
|
% of Aadhaar Seeding |
82.55% |
78.48 |
|
Of Which Mobile Seeding |
38.97 |
32.16 |
|
% of Mobile Seeding |
75.57% |
76.06 |
|
Balance in PMJDY A/c (in crore) |
1148.93 |
932.05 |
|
|
|
|
|
Average Balance per account actual |
2228 |
2205 |
|
|
|
|
|
Zero Balance PMJDY |
16.02 |
16.34 |
|
Accounts |
|
|
| BSBD Accounts |
Total BSBD Accounts |
79.60 |
71.28 |
|
|
|
|
|
O/S Balance in BSBD A/c (in crore) |
1687.18 |
1410.85 |
|
|
|
|
|
Average balance per account (actual) |
2120 |
1979 |
|
|
|
|
|
Commission Paid for BC Services (in Crore) |
25.86 |
23.07 |
|
|
|
|
Bank has a full-fledged call centre with toll free number
1800-102-2636 for redressal of PMJDY grievances.
The Financial Literacy Material has been prepared in vernacular
languages and supplied to all Branches / Bank Mitrs for supplying the same to
accountholders during FLC camps. Financial Literacy camps are organized different schools
in districts of Maharashtra. All skilling centers/ITIs are mapped under financial literacy
project Bank has been awarded for excellent performance in the field of financial
inclusion by DFS, MOF, GOI and from prestigious institutes like IBA and Economic Times.
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
31.3.2018 stood at 409 in its area of operation covering 17 out of 36 districts of
Maharashtra State.
All 409 branches and controlling offices are now under CBS.
MGB opened 1 new branch during the year 2017-18. Performance highlights
are as under:
Maharashtra Gramin Bank has achieved total business of ` 13047.92
crore.
Maharashtra Gramin Bank recorded Oprating Profit of
` 227.29 crore and Net Profit of` 131.27 crore.
Maharashtra Gramin Bank has achieved most of the target under MoU
DAP given by sponsor Bank for the financial year 2017-18 The major key performance
parameters are as under: (Amount in Crore)
| Performance Parameter |
Target FY 2017-18 |
Actual
as on 31.03.2018 |
| 1 Growth in Total Deposit (%) |
14.63 |
18.07 |
| 2 Cost of Deposit (%) |
5.49 |
5.03 |
| 3 Cost of Funds |
5.73 |
5.20 |
| 4 Operating Profit |
153.00 |
227.29 |
| 5 Net Profit |
58.00 |
131.27 |
| 6 Non interest income |
55.00 |
92.22 |
| 7 Operating Profit per employee |
0.10 |
0.15 |
| 8 Operating Profit per Branch |
0.37 |
0.56 |
| 9 Net Profit per employee |
0.04 |
0.09 |
| 10 Net profit per branch |
0.14 |
0.32 |
| 11 Cost to Income Ratio |
56 |
44 |
| 12 Net Interest Margin |
3.51 |
3.74 |
| 13 Closing NPA |
390.00 |
319.89 |
| 14 Recovery in Write off |
0.67 |
3.37 |
Under Pradhan Mantri Jan Dhan Yojana, surveys of all allotted
898 SSAs and 80 wards were conducted for identification of households
having no bank account. The Bank has covered all allotted SSAs by engaging BCAs. Total
9.38 lakh PMJDY accounts have been opened till 31.03.2018 and 7.98 lakh
RuPay ATM debit cards have been issued to PMJDY account holders.
Maharashtra Gramin Bank has actively participated in the PMJJBY, PMSBY, APY and PMMY
schemes.
8.2 Performance of METCO
Maharashtra Executor & Trustee Company Pvt. Ltd. (METCO), 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
Filing of I-Tax Returns for individuals
The Company is located at Pune having its branch units at Pune,
Vashi-Mumbai, Thane and Nagpur. It is managing about 1090 Public & Private Trusts.
During the year, additional 32 Wills were added making total 1151 Will in its custody for
execution.
At present, the Company manages properties both movable and immovable
of 71 clients under the Power of Attorney. The Company also acts as the Trustees in
respect of 101 policies under Married Women's Property Act and as Court appointed
Guardian of minor's property in 3 cases. The net profit of METCO for F.Y. 2017-18 is
` 76.58 lakh.
9. IMPLEMENTION OF OFFICIAL LANGUAGE POLICY
During the year 2017-18, the Bank has achieved various
remarkable achievements in the field of Official Language implementation:
The Town Official Language Implementation Committee,
Mumbai has secured Third Prize from the Rajbhasha
Vibhag, Ministry of Home Affairs, Government of India for better
implementation of Hindi at the hands of Hon. Governor, Maharashtra State in a grand
function held at Mumbai. Our Bank is the convenor Bank for the committee.
Our Bank was awarded Second Prize by the Mumbai based
prestigious Institution ‘Aashirvad' for better use of Hindi during the
year.
Hindi day function was arranged at Head Office, Pune on 20th September
2017. Shri R. P. Marathe, MD & CEO of the Bank presided over the function. Shri
Leeladhar Mandloi, renowned Poet and Director of Bharatiya Jnanpith was the Chief
Guest.
Shri R. K. Gupta, Executive Director & Shri M. C. Kulkarni,
General Manager were also present in the function. Winners of the All
India Internal Rajbhasha Trophy Scheme of the Bank were awarded during the function.
An All India Rajbhasha Seminar was organized in Pune for all the
Hindi Officers of the Bank.Shri R. P. Marathe, Managing Director & CEO of the
Bank inaugurated the seminar. Shri Rajkiran Bhoir, General Manager, HRM &
Rajbhasha reviewed the performance and guided all the participants. A special issue on
Rajbhasha of House magazine "Mahabank Pragati" was released in the seminar at
the hands of Hon'ble MD & CEO
Shri R. P. Marathe.
Monthly Rajbhasha E-Magazine ‘Rajbhasha E-Pragati' is
being regularly published every month. As a new initiative Rajbhasha E-Pragati in Brail
script is also published for the benefit of differently able employees of the Bank.
Bank of Maharashtra is the convenor 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 the schedule.
Committee of Parliament on Official Language visited our
Noida Branch, Faridabad Branch, Jodhpur Branch and
Delhi Zonal Office during the year and reviewed Official
Language Implementation work of the Bank. The honorable members of the
Committee expressed their satisfaction regarding progressive use of Hindi and the
implementation of new initiatives by the Bank.
Our bank was awarded First Prize by Town official Language
Implementation Committee, Patna, First Prize by Town official
Language Implementation Committee, Kota, First Prize by Town official Language
Implementation Committee, Amravati, Third Prize by Town official Language
Implementation
Committee, Ahmedabad and Third Prize by Town official Language
Implementation Committee, Jaipur for better use of
Hindi during the year.
10. SECURITY.
Proactive steps were taken in view of the security requirements at the
branches after analysis of the threat perception, current crime scenario, crime pattern,
modus operandi of Bank robberies, the breaches of security and fire incidents besides
equipping and training the security personnel and other bank staff to counter any such
eventuality.
11. DIRECTORS' RESPONSIBILITY STATEMENT
The Directors confirm that in the preparation of the annual accounts
for the year ended 31.03.2018:
The applicable accounting standards of the Institute of
Chartered Accountants of India, have been followed along with proper
explanation relating to material departures, if any;
The accounting policies framed in accordance with the guidelines
of the Reserve Bank of India, are consistently applied and proper disclosures are made for
changes, if any;
Reasonable and prudent judgment and estimates were made 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 profit of the Bank for the year.
Proper and sufficient care was taken for maintenance of adequate
accounting records in accordance with the provisions of applicable laws governing banks,
in India; and
The accounts have been prepared on a going concern basis.
12. CHANGES IN THE BOARD OF DIRECTORS
During the year 2017-18, the following changes took place in the Board
of Directors:
Smt. Vandita Kaul was appointed as Director of the Bank by the
Government of India w.e.f 11.05.2017 in place of Shri Ateesh singh.
Shri Premchandra Amolakchand Sethi, ceased to be the Shareholder
Director of the Bank w.e.f 27.06.2017 on completion of his tenure of three years.
13. BUSINESS RESPONSIBILITY REPORT
As per the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, Business Responsibility Report (BRR)
2017-18 of the Bank has been hosted on the Bank's website i.e www.bankofmaharashtra.in.
Any member interested in obtaining a physical copy of the same may write to the Company
Secretary of the Bank.
14. ACKNOWLEDGEMENT
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 and Stock Exchanges and
CDSL for their valuable advice and support; to the customers and
shareholders 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
| Place : Pune |
(R. P. Marathe) |
| Date : 04th May, 2018 |
Managing Director and CEO |
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