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Bank of Maharashtra

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

NSE BSE
 
SMC up arrow

18.25

0.20 (1.11%) Volume 280564

28-Sep-2021 EOD

Prev. Close

18.05

Open Price

18.15

Bid Price (QTY)

18.25(12843)

Offer Price (QTY)

0.00(0)

 

Today’s High/Low 18.40 - 18.10

52 wk High/Low 32.00 - 10.80

Key Stats

MARKET CAP (RS CR) 12249.5
P/E 18.57
BOOK VALUE (RS) 17.1937773
DIV (%) 0
MARKET LOT 1
EPS (TTM) 0.98
PRICE/BOOK 1.05852249232052
DIV YIELD.(%) 0
FACE VALUE (RS) 10
DELIVERABLES (%) 42.32
4

News & Announcements

18-Sep-2021

Bank of Maharashtra - Record Date For Redemption Of Infra Bond And Payment Of Interest On Bond

16-Sep-2021

Bank of Maharashtra jumps around 6%

08-Sep-2021

Bank of Maharashtra reviews MCLRs

27-Aug-2021

Bank of Maharashtra - Extension Of Term Of Office Of Shri A.S. Rajeev MD And CEO Of Bank.

08-Sep-2021

Bank of Maharashtra reviews MCLRs

20-Aug-2021

Bank of Maharashtra announces appointment of Govt. nominee director

02-Aug-2021

Bank of Maharashtra receives upgrade in credit ratings from ICRA

21-Jul-2021

Bank of Maharashtra update on QIP issue

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 16815106 0.25
Total Institutions 301073273 4.47
Total Govt Holding 0 0.00
Total Non Promoter Corporate Holding 25580529 0.38
Total Promoters 6122627927 90.97
Total Public & others 264399612 3.93
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

Dear Shareholders,

I extend a very warm welcome to each one of you to the 17th Annual General Meeting of your Bank. In July 2019, the Union Budget 201920 articulated the vision of the Hon'ble PM to make India a US$ 5 trillion economy by 2024-25. The march towards this milestone has, been challenged by less than expected growth of India's GDP till now, on the back of a decline in world output. The economy suffered a slowdown in GDP growth which fell from 7% in FY2018 & 6.1% in FY 2019 and further to 4.2% in FY2020, due to falling consumption, investment and exports. During the last few weeks of March 2020 the impact of COVID-19 started coming in, which now imposes a deep and extensive negative shock to the global economy as the wide- ranging containment measures enacted around the world constrained both supply and demand.

With weak economic growth and falling consumption, the Government in 2019 took many important reforms which included speeding up the insolvency resolution process under Insolvency and Bankruptcy Code (IBC), launching external benchmark linked loan products, relaxation of ECB guidelines for home buyers, easing of credit, particularly for the stressed real estate, NBFC sectors and announcing the National Infrastructure Pipeline amongst others. Fiscal stimulus equal to (~0.5% of GDP) was provided by lowering corporate tax rates. In an attempt to boost demand, the year also witnessed significant easing of monetary policy with the repo rate cuts by RBI by total of 135 bps from February to October 2019. In March 2020, given the extension of the COVID-19 outbreak, RBI further reduced the repo rate by 75 bps to 4.40%.

Performance of your Bank

As the consequences of the Covid-19 pandemic on the economy and financial sector are still unfolding, I am happy to share that your bank is continuing to successfully navigate in these turbulent times amidst a rapidly changing environment. Despite a challenging year, the Bank stood firm in supporting its customers which further provided opportunity to understand customers' plight. Amidst the pandemic, our focus was and remains the safety of our employees, uninterrupted delivery of services to our customers and the financial well-being of the bank. Against this backdrop, your bank delivered competitive, profitable and responsible growth in FY20. Here are some key data:

• Total Business of your bank increased to ' 2,44,955 crore as on 31.03.2020, showing an annual growth of 4.63%.

• Total Deposits increased to Rs.1,50,066 crore as on 31.03.2020, showing an annual growth of 6.69%.

• Your bank recorded a Net Profit of Rs.389 crore for the year as against loss of Rs.4,784 crore on y-o-y basis.

• Gross NPA & Net NPA reduced to 12.81% & 4.77% as on 31.03.2020 from 16.40% & 5.52% on y-o-y basis respectively.

• Capital Adequacy Ratio and CET-1 of the bank stood at 13.52% & 10.67% respectively as on 31.03.2020 which is above the regulatory requirement.

• Your Bank made a strategic decision to rebalance its advances portfolio and accordingly Retail, Agriculture and MSME (RAM) sector showed an improvement to 57.29% as on 31.03.2020 from 50.98% as on 31.03.2019.

During the year, your Bank had taken new business initiatives as under:

• Introduced new schemes-Maha Contractor Scheme, Maha Hospitality Scheme and ‘Standby Line of Credit for MSmE (SLC-MSME)

• Introduced Standby line of credit for working capital (SLC-WC) to give additional comfort to the existing MSME borrower in regard to liquidity easing.

• Under Contactless Cards, the bank launched National Common Mobility Card (NCMC)

• In the Internet banking, additional 13 services and 42 functionalities were added for more customer ease and convenience.

• Introduced Repo Linked Lending Rate Housing Loan(RLLR) (Special Scheme) & New Salary Saving Account Product

Way forward

We are entering the new financial year at a time when all major economies have been brought to a standstill. The impact of the Covid-19 pandemic has been fast and widespread, and the next few months will be challenging for everyone, individuals and organizations. As per the IMF, the pandemic is now expected to weaken global economic activity substantially in 2020 with the global economy projected to contract by 4.9% in 2020, much worse than during the 2008-09 global financial crisis. On the other hand, the economic downturn is not due to any structural problem in the economy, but due to an externality that has hit the pause button on the economic activity.

I am quite confident that whenever that externality is removed, an equally quick economic recovery will follow. Amidst these challenging times, we will continue to stay close to our customers, align ourselves to their evolving priorities and launch newer offerings that address current imperatives.

With all these strengths, I believe our business will only get better through the months ahead and we will be better positioned than ever to help our customers to lead in the new normal. As we navigate these uncertain times together with our customers, I look forward to your continued support.

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, 2021.

1. MANAGEMENT DISCUSSION AND ANALYSIS

1.1 Economic and Banking Scenario 2020-21

The global economy witnessed an unprecedented economic downturn in FY 2020-21 due to Covid-19 pandemic. The lockdowns and social distancing norms have reduced the growth momentum. Global economic output was estimated to fall by 3.5 percent in 2020. Indian economy also witnessed contraction in gross domestic product (GDP) for the first time since independence. Calibrated fiscal and monetary support was provided, cushioning the vulnerable during the lockdown and boosting consumption and investment during the unlocking. A favorable monetary policy ensured abundant liquidity and immediate relief to debtors while unclogging monetary policy transmission. India's GDP due to pandemic contracted by

23.90% in Q1 and 7.50% in Q2 of FY21. As the first wave of

Covid-19 pandemic eased and economy was slowly opened up India's GDP grew by 0.40 percent YoY in Q3 mainly attributed to improvement in Consumer Spending, Government Capital Expenditure and expansion in Construction Sector.

Retail inflation firmed up to 6.16 percent in FY21 side disruptions caused by the pandemic. However, it reduced to 4.29 percent in April 2021 owing to decrease in food prices. Monetary policy remained accommodative during the year. RBI policy repo rate was cut by 115 bps and liquidity support by

RBI during 2020-21 was significantly enhanced. Meanwhile, year on year bank credit growth (5.6 percent) continued to lag behind deposit growth (11.4 percent) in FY21.

1.2 Outlook for 2021-22

Multiple vaccine approvals and the launch of vaccination drives in many countries have raised hopes for less impact of the pandemic. WEO forecast suggest stronger-than-projected momentum on average across regions in the second half of 2020. The sizable fiscal support announced for 2021 in some countries, including most recently in the United States and Japan, will help lift economic activity among advanced economies. With respect to Indian economy the larger than expected magnitude of Covid-19 second wave has posed a serious threat to the faster recovery of economic activities. As of now the outlook is hazy and will largely depend on how the second wave pans out. With the Covid-19 second wave starting to wane and availability of sufficient number of vaccines from

September 2021, growth in second half of FY22 is likely to pick up. Indian GDP is expected to grow around 10 percent in FY22 and RBI is likely to continue with its accommodative stance.

2. PERFORMANCE HIGHLIGHTS 2020-21 i. Total Business of the bank has increased from

Rs.2,44,955 crore as on 31.03.2020 to Rs.2,81,659 crore as on 31.03.2021. Business of the Bank showcased annual growth of 14.98%. ii. Total deposits of the bank increased from Rs.1,50,066 crore as on 31.03.2020 to Rs.1,74,006 crore as on 31.03.2021. Total deposits have showcased annual growth of 15.95%.

iii. CASA deposits have increased form Rs.75,475 crore as on 31.03.2020 to Rs.93,945 crore as on 31.03.2021 showcasing annual growth of 24.47%.

iv. Gross advances have increased from Rs.94,889 crore as on 31.03.2020 to Rs.1,07,654 crore as on 31.03.2021.

Gross Advances have shown year on year growth of 13.45%. v. Operating Profit increased 39.01% to Rs.3957.68 crore in year ended 31.03.2021 from Rs.2847.06 crore in year ended 31.03.2020. During the same period Net Profit increased 41.61% to Rs.550.25 crore from Rs.388.58 crore.

2.1 Sectoral Deployment of Credit

Percentage to total O/s O/s as on 31.03.2021 (in Rs.Crore) Percentage to total O/s O/s as on 31.03.2020 (in Rs.Crore) Percentage to total O/s
Industry Of which 34,129.68 31.70% 30,113.57 31.74%
i. Infrastructure 14,347.11 13.33% 7,370.82 7.77%
ii. Chemicals & Chemical Products 1,121.67 1.04% 1,430.82 1.51%
iii. Petroleum 588.66 0.55% 688.76 0.73%
iv. Iron and Steel 859.89 0.80% 1,609.59 1.70%
v. NBFCs and Trading 9,232.69 8.58% 10,759.03 11.34%
vi. Engineering 1,245.15 1.16% 2,336.55 2.46%
vii. Construction 80.94 0.08% 1.78 0.00%
viii. Other Industries 6,653.57 6.18% 5,916.35 6.24%
Agriculture 16,201.98 15.05% 14,384.66 15.16%
MSME 23,132.87 21.49% 17,163.92 18.09%
Housing 17,909.07 16.64% 14,915.71 15.72%
Education 1,287.66 1.20% 1,227.70 1.29%
Exports 1,310.99 1.22% 1,167.11 1.23%
Commercial Real estate 1,508.58 1.40% 1,611.34 1.70%
Gross Advances 1,07,653.77 94,888.98

2.2 Asset 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 accounts, 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 department at Head Office 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 being monitored. Focused follow up is undertaken to improve NPA recovery.

Loan Tracking Cell has been established where

Bank undertakes telephonic follow up on daily basis with borrowers of stressed accounts / slippages and repayment of over dues is ensured. This has resulted in improving recovery and upgradation of NPAs.

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

Bank has been implementing suo-moto non-discriminatory and non-discretionary One Time Settlement (OTS) schemes. During 2020-21 the Bank introduced following OTS schemes:

a. Maha Rahat Yojana 2020-21: Scheme for the settlement of NPA accounts in Doubtful-I,

Doubtful-II, Doubtful-III, Loss and TWO category having Ledger Balance up to Rs.1.00 crore as of 31.03.2020. This scheme was effective from 01.06.2020.

b. Maha Samadhan Yojana 2020-21: Scheme for the settlement of NPA accounts under:

i. Doubtful-I, Doubtful-II, Doubtful-III, Loss and TWO category having Ledger Balance above Rs.1.00 crore and up to 25.00 crore as of 31.03.2020.

ii. Doubtful-III, Loss and TWO category having Ledger Balance above Rs.25.00 crore and up to 50.00 crore as of 31.03.2020.

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 Insolvency & Bankruptcy Code 2016 against various large NPA borrowers.

Position of Non- Performing Assets was as under:

2.3 Foreign Exchange Business

Currently, the bank has 36 "B" Category Branches across the country catering to the international business needs of the customers of the Bank apart from Treasury and International

Banking Branch (TIBB) at Mumbai as "A" category Branch. The

Merchant Business for FY 2020-21 stood at Rs.30,451.46 crore. The performance during the year 2020-21 can be seen below:

Particulars 2020-21 2019-20 Percentage of (+/-)
Total FEX Business Turnover 634389.59 568236.68 11.64%
Merchant Business

2.4 Investment

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

The Gross Investments as on 31.03.2021 stood at

Rs.68,646.70 crore, of which Rs.52,196.56 crore are SLR securities and Rs.16,450.14 crore are Non-SLR Securities. The excess SLR securities as on 31.03.2021 stood at Rs.21,498.85 crore.

The net investments (net of provisions) stood at Rs.68,111.65 crore as on 31.03.2021 as compared to Rs.57,740.85 crore as on 31.03.2020. Investments under

Held to Maturity (HTM) category consist of 69.35%, while Available for Sale (AFS) comprised of 30.65% of total investment portfolio as of 31.03.2021. The net interest income from investment activity stood at Rs.4,158.32 crore in year ended 31.03.2021 as compared to Rs.4,203.89 crore during the last year (down by 1.08%).

The Non-Performing Investments stood at Rs.446.97 crore as on 31.03.2021.

2.5 Merchant Banking

The Bank handled 44 issues (previous year 63 issues) of Commercial Paper amounting to Rs.32,745 crore (previous year Rs.22,220 crore) for its clients as an Issuing and Paying Agent (IPA) during the year.

2.6 Borrowings

The borrowing of the Bank as on March 31, 2021 stood at Rs.4238.75 crore including re-finance as under:

Particular Amount as at 31.03.2021 Amount as at 31.03.2020 Percentage of (+/-)
Total Borrowing of which Borrowing RBI under 4,238.75 500.00 3,670.03 478.00 15.50% 4.60%
LAF of which Borrowing Market REPO 0.00 0.00
Of which Borrowing TRePS (G-Sec) 0.00 0.00
Of which Refinance from
NABARD 0.00 0.00
EXIM BANK 0.00 0.00
NHB 0.00 0.00
MUDRA 0.00 0.00
SIDBI 51.55 85.75 -39.88%
Borrowings in the form of Bonds & debentures capital instruments 3,605.70 3,100.00 16.31%
Borrowings outside India 81.45 6.23 1207.38%
Others 0.05 0.05 0.00%

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 the year 2020-21

Insurance No. of Policies Premium ( ` Cr) Commission (Rs.Cr)
Life 8,728 46.75 8.65
General 1,35,996 49.84 6.06
Health 55,518 46.18 6.92
Total 2,00,242 142.77 21.63

2.9 Government Business

During the Year 2020-21, 4,67,399 Challans of direct taxes and 31,963 Challans of Indirect taxes were collected by the branches. Total Commission to the tune of Rs.3.74 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 107307 at Central government, Defense, Railway and Telecom pensioners at central Pension Processing Cell (CPPC), Pune. The commission on Government Business (Pension) for the Year 2020-21 is Rs.10.81 Crores.

Bank has opened 1,14,517 new Public Provident fund

(PPF) accounts in FY 2020-21.

2.10 Income, Expenditure and Profitability

The total income of the Bank stood at Rs.14,493.80 crore in FY 2020-21 as compared to Rs.13,144.68 crore in FY 2019-20. The detailed income/expenditure components are as under:

Particulars 2020-21 2019-20 Variation ( in %)
Interest / discount on advances / bills 7153.93 6409.27 11.62%
Income on investments 4153.4 4202.69 -1.17%
Interest on interbank lending & other Interest 561.21 883.49 -36.48%
Total interest income 11868.54 11495.45 3.25%
Non-interest income 2625.26 1649.23 59.18%
Total Income 14493.8 13144.68 10.26%
Interest on deposits 6525.95 6757.19 -3.42%
Interest on borrowings 49.65 20.56 141.49%
Other Interest expenditure 395.47 438.90 -9.90%
Staff expenses 2255.21 1743.82 29.33%
Other Operating expenses 1309.84 1337.15 -2.04%
Total Non-interest expenses 3565.05 3080.97 15.71%
Total Expenses 10536.12 10297.62 2.32%
Operating Profit 3957.68 2847.06 39.01%
Provisions and Contingencies 3407.43 2458.48 38.60%
Net Profit 550.25 388.58 41.61%

2.11 Financial Ratios

The various financial parameters of the Bank during the year

2020-21 can be seen below:

Particulars 2020-21 2019-20
EPS (`) 0.88 0.67
Cost to Income Ratio (percent) 47.39 51.97
Return on assets (percent) 0.30 0.23
Return on equity (per cent) 7.17 6.32
Book value per share (`) 12.22 11.99
Profit per Branch ( Rs.in lakh) 28.02 21.20
Profit per employee ( Rs.in lakh) 4.19 3.10
Business per Branch (Rs.in crore) 143.11 133.64
Business per employee (Rs.in crore) 21.45 19.55
Interest income as per cent to
Average working funds 6.42 6.78
Non-Interest income as per cent to average working funds 1.42 0.97
Net Interest Margin (per cent)* 2.84 2.60
Operating Profit as per cent to average working Funds 2.14 1.68
Staff expenses as a percent to average working funds 1.22 1.03
Dividend (per cent) 0.00 0.00
Net worth (Rs.in crore) 8019.20 6985.74
CRAR (%) 14.49 13.52
Of which, Tier I CRAR (%) 10.98 10.67

2.12 Capital

During the year, Bank has allotted 73,60,49,601 equity shares of Rs.10/- each of Bank to Government of India at issue price of `11.29 per equity share on 25th August, 2020 against the capital infusion of Rs.831 crore. Bank also raised Tier II capital of

Rs.505.70 crore in financial year 2020-21.

2.13 Net worth

The Bank's Net Worth stood at Rs.8019.20 crore as on 31.03.2021 as against Rs.6985.74 crore as on 31.03.2020.

2.14 Capital Adequacy Ratio

The Capital Adequacy ratio stood at 14.49% as on 31.03.2021, against the minimum requirement of 10.87% (including CCB) prescribed by RBI in terms of Basel III norms. The Common Equity Tier 1 capital ratio stood at 10.98%.

3. RESOURCES: BANKING OUTLETS, HUMAN RESOURCES, IT INFRASTRUCTURE, CUSTOMER RESPONSIVENESS AND OTHERS: 3 .1 Banking Outlet/ ATM Network

As on 31.03.2021, the Bank had 1964 banking outlets spread across all the States and six union territories as compared to 1833 as on 31.03.2020. The banking outlets comprised of 1915 branches and 49 fixed point outlets served by Bank Mitras, named as Customer Service Point (CSP).

During the year ended 31.03.2021 the Bank opened 86 new branches and set its footprint in 69 additional districts. Bank also opened 46 fixed point outlets served by Bank Mitras, named as Customer Service Points (CSP). In the same period 3 branches were 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 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 31.03.2021 is as under:

Sr. No. Classification As on 31.03.2021 As on 31.03.2020
1 Rural 611 616
2 Semi-Urban 461 428
3 Urban 372 331
4 Metro 471 458
Total 1915 1833

ATM / CRM Network

The Bank had 1950 automated teller machines (ATMs) and cash recycler machines (CRM) as on 31.03.2021 as compared to 1851 as on 31.03.2020. During the year ended 31.03.2021 the Bank installed 499 CRMs.

31.03.2021 31.03.2020
Offsite 445 545
Onsite 1505 1381
Total 1950 1926

3.2 Human Resources Management

The 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 the year 2020-21 the Bank has recruited employees as under:

152 Officers in Scale I, 138 Officers in Scale II (which includes 23 Law Officers, 31 IT Officers, 01 Security & 83 Generalist Officers), 29 Generalist Officers in Scale III cadre and 220

Clerks.

During the year, 926 employees exited from service on account of retirement, VRS, resignation, termination and death.

Inter scale promotions of officers were carried out during 2020-21. Following number of Officers were promoted.

JMGS-I to MMGS-II MMGS- II to MMGS III MMGS- III to SMGS-IV SMGS- IV to SMGS-V SMGS-V to SMGS-VI SMGS- VI to TEGS-VII
55 259 87 20 12 4

During the year 57 Clerks were promoted to Officer cadre in Scale I and 221 Part time Sub-staffs were promoted to Sub-staff cadre. The cadre wise staff position as of 31.03.2021 with gender ratio percentage is as under:

Category Male % Female % Total
Officers 4784 71.93 1867 28.07 6651
Clerks 2700 66.13 1383 33.87 4083
Sub-staff 1463 88.51 190 11.49 1653
Part Time 680 91.77 61 8.23 741
Sub-staffs
Total 9627 73.33 3501 26.67 13128

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 its Zonal Offices.

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. Details of compassionate appointments for the year 2020-21 is as under:

Cadre Compassionate Appointments No. of employees
Clerk 13
Sub-staff 10
Total 23

The reimbursement of examination fees & payment of cash incentive / Honorarium in respect of courses from Indian Institute of Banking & Finance, MBA from reputed Institutions, FRM,

BIRD, PRM, CFA etc. has been widened by adding courses in the list of courses for reimbursement of fees thereby making total 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.

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, business development, 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. To meet the requirements of the lockdown imposed due to Covid-19 pandemic, 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, NRI customer service, soft skills and rural development.

Cadre-wise Break up of Employees trained during the period 01.04.2020 to 31.03.2021 are as under-

Cadre No. of Programmes Training Days Employees Trained Cadre
Officers 139 474 4339
Clerks 118 268 2359
Clerks 118 268 2359
Total 285 794 7135

Initiatives/ Precautions taken by Bank to Protect Employees from Covid-19

In the backdrop of Covid-19 outbreak several precautionary measures in the interest of our employees and business continuity have been taken.

i. Awareness has been created among employees/ customers by issuing various guidelines about preventive interventions for reducing transmission of the Corona virus.

ii. In order to maintain social distancing at work place and reduce chances of contacting Corona virus about 50% of Employees were allowed to attend office while the remaining employees were allowed to work from home (WFH).

iii. Differently abled person employees were exempted from attending office and were allowed to work from home. Similarly, pregnant ladies were allowed to work in the backend so that they are least exposed. iv. Distress relief of Rs.20.00 Lakh to employees on account of loss of life due to COVID-19 while discharging duties was provided.

v. Appealed to all employees to take COVID vaccine along with their dependents and reimbursement of Vaccination expenses

vi. Reimbursement of hospitalization expenses for existing employees for the treatment of COVID-19.

3.3 Technology Initiatives

The Bank had taken up & successfully initiated/ upscaled various IT projects during 2020-21 which are enumerated as under:

MeitY - Digital Score Card: As against the Ministry of Electronics & Information Technology (MeitY) target of 42.12 crore digital transactions the Bank achieved 41.99 crore digital transactions during the year ended 31.03.2021. With respect to merchant onboarding Bank on boarded 76,566 merchants against the target of 1,03,201 in FY 2020-21. The MeitY monitors progress of digital payment transaction, merchant acquisitions, UPI and AEPS system resilience on monthly basis and communicates the scores to Banks. Our bank has maintained "Good" category performance in year ended 31.03.2021.

The Bank has implemented 1050 Self Update Pass Book Printing Kiosks and 4 off-site and 495 Onsite Cash

Recyclers at various locations across the Bank.

The Bank has a tie up with BSNL for upgrading the Bandwidth of the existing Leased Lines to 2 Mbps. As on

31.03.2021, bandwidth of 1759 leased lines is upgraded to 2 Mbps. In order to make our systems more resilient, bandwidth is made available from Additional Network Service Providers. So far 1743 branches have dual service providers.

National Common Mobility Card (NCMC) The Bank partnered with NPCI for issuance of National Common Mobility Card (NCMC) using Near Field Communication.

NCMC has features of both Online-Offline transactions and prepaid wallet capabilities. Bank has so far issued 6,22,570 NCMC cards to customers.

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 access India with certainty, reliability and safety of transactions. Bank is offering corporate bill payment solution to Pune Municipal Corporation (PMC) MSEDCL bill payments on BBPS platform. BBPS service is also live on BC (Business Correspondent) Channel.

The ISO 27001: 2013 certification was achieved for our IT division covering HO-IT, DC, DR and CBS Project Office in August 2015. Bank is ensuring continued compliance

& successfully completed the Surveillance Audit for the continuation of ISO 27001: 2013 Certification for the year 2020-21 as well.

The first PCI DSS certificate was awarded towards compliance of Debit Card environment security to the Bank on 12.09.2014 and is continued till date.

In order to provide better improved access and service quality to customers, DFS has introduced EASE (Enhanced Access and service Excellence) agenda and reforms. Bank have implemented additional 5 services

& 39 features in Internet Banking and 5 services and 42 features in Mobile banking. The share of financial transactions through ‘Home and Mobile' based channels increased from 72% to 79%. Also bank has incorporated

Insurance and Loan module in digital channels.

The Bank is actively promoting BHIM Aadhaar Pay payment channel and 38152 Merchants are on-boarded as on 31.03.2021.

Bank has implemented Public Financial Management

System (PFMS) which is used by Government Agencies to make payments directly into the recipients Bank Account.

The Bank issues Rupay and Visa debit cards in different variants such as Visa EMV, Rupay Classic,

Rupay Platinum etc. to its CASA Accounts. As per RBI guidelines, all the cards are EMV Chip based. The total card base of the bank increased from 76.44 lakh as on 31.03.2020 to 96.31 lakh as on 31.03.2021.

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.

White Label Payment Gateway (WLPG): Bank has introduced White label payment gateway solution for our merchants. This solution allows Bank to provide payment processing services using its own name.

Online Account Opening: With this solution customers are able to open limited KYC savings bank accounts anytime anywhere at their convenience.

Tab Banking Solution: With this solution customers are able to open salary savings bank account anytime, anywhere in assisted mode at their convenience.

Bank has implemented Cyber Security operations Centre

(CSOC) with state of the art technologies including,

a) Security Information and Event Management (SIEM) solution

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

c) File Integrity Monitoring (FIM) for detecting unauthorized changes to critical files on Servers.

d) Privilege Identity Management Tool (PIM) a centralized portal-based console to access the privilege devices, servers and applications for all privilege users with two factor authentication for login.

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

QUICK pay: A mobile app has been developed for merchant to do self-registration for QR code to acquire transactions through Scan & Pay. This app also provides details of the transactions performed by customers using

Scan & Pay.

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.

3.4 Customer Centric Initiatives taken by the Bank

i. 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.

ii. 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.

iii. 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.

iv. 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. v. The Committee of the Board on Customer Service meets on quarterly basis to monitor the quality of the customer service, redressal of customer grievances and to ensure customer satisfaction. vi. Bank has well established grievances redressal machinery is in place to respond promptly to customer grievances. The Bank has internet based mechanism, Standardized Public Grievances Redressal System (SPGRS) for lodging of 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.
Particulars 2020-21 2019-20
No.
1 Customer complaints at the 296 145
beginning of the year
2 Complaints received during the
year 3760 8740
3 Complaints redressed during
the year 4037 8589
4 Complaints pending at the end
of the year 19 296

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 measure on a regular basis. A comprehensive list of eligible KYC documents is uploaded on the Bank's web site for the benefitof 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 IT services. Marketing Team participated in various expos in physical and virtual mode under Retail, Agri & MSME sector for increasing our presence and business mobilization. In FY 2020-21, Bank established its presence across all mediums like TV, Radio, Digital, Print, OOH (out of home), etc. Bank associated with various National

& Regional TV, Radio, Digital Channels for creating awareness about Bank and promotion of various products & services.

Bank partnered with leading property, car and e-commerce portals for promotion of Retail, MSME products along with lead generation. In order to increase visibility of the Bank in the areas where Bank is expanding its banking outlets, marketing team associated with leading regional media in print, radio, TV and digital for required publicity.

With a view to establish a digital footprint across the web and in order to leverage the power of local search for helping customers, Bank implemented Location Management solution by updating the information of Bank Branches and ATMs (maps, reviews, contact details, products and services) on various search engines and social network sites.

To facilitate ease and convenience for the customers, Bank revamped its corporate website.

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 charger 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. The outstanding under Priority Sector Lending

(including investments) as of March 31, 2021 stood at 58.05% of adjusted net bank credit (ANBC) as against the mandatory target of 40%. The outstanding advances under Priority Sector (excluding investment) as of March 31, 2021 aggregated to Rs.

49,109 crore constituting 45.62% of total credit.

4.2 Agriculture

Bank sanctioned loans of Rs.5,824 Crore for Agriculture and allied activities during the year 2020-21. Total outstanding advances to agriculture sector reached a level of Rs.16,202 Crore as on 31.03.2021. Total Agriculture (including investments) stood 19.91% of ANBC. Bank has achieved all mandatory targets (on Quarterly average basis) under Agriculture including sub-targets of Small and Marginal Farmers, Direct lending to non-Corporate farmers, etc. during the FY 2020-21.

The bank focused on growth of Investment Credit under Agriculture during the year 2020-21 and disbursed Rs.1,799 Crore. The bank also devised Area Based schemes to meet the needs of Agriculture and Agro based industries.

During the year 2020-21, Bank has introduced Covid relief schemes viz. Mahabank Kisan Rahat Yojana (MKRY) for

Farmers, MKRY for Agro Based industries/ units & Mahabank

SHG Rahat Yojana to support the Borrowers to cope with the tough situation arisen due to outbreak of COVID-19 pandemic. Bank has disbursed total loan of Rs.325 crore under the aforesaid schemes.

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 been extending relief measures to farmers from time to time. Our bank also successfully implemented farm loan waiver scheme of Govt. of Maharashtra. During the year Bank credited Rs.1770 crore under MJPSKY-2019 (debt waiver scheme of Maharashtra State).

Along with this, 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 2020 season across the country. During FY 2020-21 the bank sanctioned total 3.89 lakh Kisan Credit Cards (KCC) to farmers amounting to Rs.5,557 crore. Credit flow to MKCC beneficiaries reached to a level of

Rs.7,502 Crore as on 31.03.2021. 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.

4.3 Micro, Small and Medium Enterprises (MSME)

MSMEs are the growth engine for the Indian economy. They have highest contribution in generating employment both directly as well as indirectly.

During FY 2020-21, MSMEs were most affected due to

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 the Reserve Bank of India.

i. Moratorium on repayment of instalments granted to the borrowers whose repayment were falling due between 01.03.2020 and 31.08.2020.

ii. For working capital limits extended in terms of CC/OD, interest during the above moratorium period was carved out as FITL. iii. Additional funding extended under Emergency Credit

Line Guarantee Scheme (ECLGS) to eligible borrowers. iv. Additional finance extended under Adhoc line of credit

Covid-19 scheme.

v. Liberalised working capital assessment (LWCA) scheme implemented due to the elongated working capital cycle of borrowers. vi. For street vendors, Bank of Maharashtra has extended loans via PMSVANidhi scheme to revive their business.

Bank's lending to Micro, Small and Medium Enterprises increased by 35% as compared to Mar 2020 and recorded growth of Rs.5969 crore in absolute terms. Total MSME advances of the bank stood at Rs.23,132.87 crore as on 31.03.2021. Bank's performance in MSME portfolio in FY'21:

S. No Particulars Actual Target
1 % of Micro to Adj. Net Bank Credit 15.94% 7.50%
2 YOY growth under Micro Enterprises 66.76% 10%
3 YOY Growth under Micro & Small enterprises O/s 34.55% 20%
4 Share of Micro against to MSE O/s 89.90% 60%

4.3.1 MUDRA

Bank is supporting credit needs of small business and non-farm enterprises engaged in manufacturing, trade and services up to Rs.10 lakh by way of Pradhan Matri Mudra Yojana (PMMY). During the year ended 31.03.2021 the Bank sanctioned

Rs.2560.38 crore under PMMY against the target of Rs.2375 crore, thereby achieving 107.80% of target.

Other Major Achievements

Bank has conducted credit outreach programme from 17.10.2020 to 31.12.2020 during which, loans to 7230 MSME borrowers amounting to Rs.2076 cr were sanctioned and total disbursement was Rs.1810 Cr. During this period, Bank has organized 40 webinars and 185 MSME credit outreach programmes.

In order to accelerate the growth of MSME advances,

Bank has conducted MAHA MSME MARATHON CAMPAIGN (M3 Campaign (from 04.01.2021 to 25.02.2021. Overall, Rs.2094.54 Cr loans were sanctioned during the campaign. Against the disbursement target of

Rs.1500 Cr, bank has achieved disbursement of Rs.1796.53 Cr (approx 120%). As part of this M3 campaign, Bank organised MSME expos, webinars on PAN India basis to contact MSME enterprises and industry associations.

Bank has implemented the MSME restructuring guidelines issued by RBI and has restructured 11470 accounts amounting to Rs.861.98 crore during FY' 2020-

21.

Finance is being extended with very competitive RoI under Banks various customized schemes like Maha GST, Maha Conductor, Maha Hospitality schemes.

Increased the financial limit under MSME GST scheme from Rs.3 Cr to Rs.10 Cr. This helped in increasing the lending under MAHA GST scheme by 80.25% to Rs. 1276.89 Cr.

Achieved good growth in MSME portfolio through various delivery channels - partnering with Fintech companies,

Co-lending, channel financing,etc. and other strategies.

Bank has launched Digital lending products under co-lending arrangement with "Loan Tap" (NBFC) which enable end to end digitisation of MSME loans.

Bank has a tie-up with finch company M/s Atyati

Technologies for providing end to end services to MSMEs. This tie-up would enable micro and small enterprises to access Bank facilities with ease.

Bank has launched Mahabank Channel financing scheme which meets the credit demands of corporates and their MSME channel partners. Bank has sanctioned

Rs.1345 crore of parents limits to various corporates under the scheme.

Decentralisation of E-TReDS platform: Panjim brach,

Goa Zone has been added as a new nodal centre for E-TReDS platform which has resulted into mobilisation of Rs.474 crore finance under TReDS.

Bank has designated 50 branches as special MSME branches, to cater the needs of MSME entrepreneurs.

As an organisational transformation initiative, Bank has implements an Enterprise wide Loan Lifecycle Management System (LLMS) for automation of Loan Life

Cycle Management Process and towards digitisation of records/document.

4.4 Bank's Exposure to Select Segments

Sr. No. Sector As on 31.03.2021 As on 31.03.2020 % incease (+/-)
1 Micro / SHG Finance 365 217 68.00%
2 Weaker Section 11,863 10,481 13.19%
3 SC/ ST Beneficiaries 2,911 2,530 15.07%
4 OBC Beneficiaries 7,605 6,661 14.17%
5 Minority 3,814 3,017 26.40%
Communities

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 31.03.2021 stood at Rs.28,650.93 Crore.

SN Scheme Brief Description Portfolio as of Mar '21 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. 17,909.07 2.75
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"
2 Maha Super Car Loan Scheme and M a h a b a n k vehicle Loan scheme Bank has launched schemes for purchase of New four wheelers i.e. Car, Jeep, Multi Utility vehicles (MUVs), SUV etc. for personal use (i.e. not for hiring/ferrying passengers) for individuals (18 years and above). 1,799.94 2.43
3 Model Education 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 for pursuing higher studies /education in India and abroad. 1,287.66 4.32
4 Loan Against Self-Occupied 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. 911.15 1.81
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". 425.15 1.04
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.
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". 1,939.38 0.30
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". 596.76 0.98

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.

In the financial year 2020-21 all three Pune based CPC

Retail i.e. Pune City, Pune East and Pune West CPCs were 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 Door Step Banking Services

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

5.4 Alternate Delivery Channels 5.4.1 Internet Banking

1. There was an increase of 6.82% in Internet Banking users over the previous year. As of 31.03.2021 total 15.31 lakh total customers were enrolled for internet banking facility .

2. With continuous follow up and increase in net security through the Mahasecure for IB users, substantial rise in users/online transactions is expected.

3. In the internet Banking, additional 5 services and 39 functionalities were added during the year for more customer ease and convenience.

5.4.2 Mobile Banking

1. Mobile Banking users increased by 63.91% during the year. Total enrolled uses were 13.64 lakhs as on

31.03.2021.

2. Maha Mobile functionality has been customized and simplified with addition of 5 services and 42 functionalities for increasing enrolments.

6. CORPORATE SOCIAL RESPONSIBILITY

Following the legacy of the age-old tradition of contributing to socio-economic development & upliftment of underprivileged, weaker sections and rural citizens, Bank undertook varied activities aligned to Govt. guidelines viz.: Helping MSMEs: Bank organized Online event on "Finance for MSMEs" organized by Mahratta Chamber of Commerce, Industries & Agriculture (MCCIA) for helping out the MSMEs

Promoting eco-friendly initiatives: Installation of Water Harvesting System in educational institutions Promotion of Education: Bank provided books and projector for study center at Pulgaon, sponsored International & National

Web conference in various schools and colleges and provided study materials to the visually challenged students.

Helping Hand in Combating Covid-19: Bank's employees donated Rs.5.00 Crore to PM CARES Fund and Rs.1.66 Crore to CM CARES Funds of several states. At different places across the country the Bank distributed sanitization kits, food packets and drinking water to the Corona warriors like medical staff, police personnel and sanitization workers.

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

a) Activities through Mahabank Rural Self Employment

Training Institutes (MRSETIs)-

During the year 2020-21 Bank imparted EDP & skill based training to 3698 trainees as against set target of 3375.

A total of 3016 new businesses were started by these trained entrepreneurs, showing settlement ratio of 81.16%; 1901 units are credit linked, showing 62.14% achievement under credit linkage. b) Activities through RDCs:-

Besides advocating farmers for their credit needs, Bank organized 143 Farmer Training Camps wherein 4,394 farmers were given specialized training on various modern Agricultural technologies. Soil and water testing was carried out for the benefit of the farmers through RDC Bhigwan. During the year 2020-21, 2625 soil and water samples are tested and reports were provided to farmers along with necessary recommendations.

774 Financial Literacy Camps were organized wherein 46597 participants were educated for banking, digital transactions, use of UPI, BHIM App and social security schemes like PMJJBY, PMSBY, APY, etc.

c) Other Activities: - 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.

Women SHG members were imparted training on various skill developments activities like

Garment making, files and envelop making, preparation of milk products, preparation of various items like spices, pickles, jam & jellies, hand wash, incense stick Manufacturing and handmade jewelry making etc. through GMBVM Trust and MRSETIs.

Bank is also providing an outlet for sale of

SHG products named "Savitree" and also hand holding to SHGs for their participation in State

Level / District level exhibitions / melavas. They have participated in Bhimthadi Jatra, Exhibitions arranged at Ganesh Kala-Krida Mandir,

Lokmangal premises on eve of Diwali & Ganesh

Utsav, Bird sanctuary function at Bhigwan etc. Health check-up camps were also arranged for women SHG members through GMBVM.

d) Other initiatives: -

Bank has celebrated the September 2020 as a

"Poshan Month" through Gramin Mahila Va Bal Vikas Mandal Trust (GMVBM) & RSETIs in which Bank created awareness about nutrition and distributed high nutrition food packets in select villages.

Bank received National Award for best performance in SHG financing under DAY NRLM scheme of Govt of India.

Formed and credit linked 21,803 SHGs amounting to Rs.283.74 Cr. as against the target of 15,470 SHGs amounting to Rs.255.10 crore (111%). Bank is also implementing the social security schemes of Govt. like PMJJBY, PMSBY, APY, etc. through Branches, BCs and other digital modes. GMBVM trust 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

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 2020-21 was for Rs.4,74,511 crore, which was 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 review 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 Member

Banks, State Government, Government Agencies, Reserve

Bank of India, NABARD and the Central Government. SLBC Maharashtra coordinates a network of more than 16,827 bank branches in the state.

As the SLBC convener, Bank of Maharashtra coordinated for implementation of Pradhan Mantri Jan Dhan Yojana (PMJDY) in the State of Maharashtra. As of 31.03.2021, total of 300 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:

Particulars 2019-20 2020-21
FI Plan No of Transactions by BCA (in lakhs) 168.33 186.01
Amt of transactions (in Cr) 10003.76 12896.05
PMJDY No. of PMJDY accounts (in lakhs) 61.74 68.15
Of Which Aadhaar Seeded (in lakhs) 56.03 62.80
% OF Aadhaar Seeding (in lakhs) 90.75% 92.10%
Of Which Mobile Seeding (in lakhs) 49.81 56.47
% of Mobile Seeding (in lakhs) 80.68% 82.86%
Of Which Ru-Pay Card issued (in 19.17 26.71
lakhs)
% of Ru-Pay Card issued (in lakhs) 31.04% 39.20%
Balance in PMJDY A/c (in Cr) 2057.37 2545.14
Average Bal. per account (actual) 3332 3735
PMJDY – OD Count (in lakhs) 2.53 2.66
PMJDY – OD Amount (in lakhs) 2774.01 3202.08
Zero Bal. PMJDY A/cs (in lakhs) 14.82 11.47
Social Enrolment under PMJJBY (in lakh) 12.87 16.41
Security Enrolment under PMSBY (in lakh) 22.72 31.12
Schemes Enrolment under APY (in lakh) 2.03 2.83
BSBD Total BSBD Accounts (in lakhs) 85.20 93.53
Accounts O/S Balance in BSBD A/c (in Cr) 2635.39 3223.00
Average bal. per account (actual) 3093 3445
Commission Paid towards BC 27.88 34.23
Services (in Crore)

The Bank has a full-fledged call center with toll free number 18001022636 for redressal of PMJDY grievances. In appreciation of its efforts towards financial inclusion, the Bank was also recognized by the Govt of India in FY 2020-21 for excellent performance in the field of financial included: Secured 1st position for issuance of RuPay cards

. showing3932%growthinfinancial year 2020-21 Certificate of Appreciation under the APY Financial

Freedom Fighters Campaign held from 14.08.2020 to 30.09.2021.

Qualified under APY Leadership Capital 3.0 Campaign, held from 18.01.2021 to 28.02.2021 & APY Big Believers

3.00 Campaign, held from 01.03.2021 to 31.03.2021.

Qualified under winning Wednesday campaign, for the month of March 2021.

Certificate of Appreciation under APY Power to Persist

Campaign, for the month of September 2020.

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 March 31,

2021 stood at 412 in its area of operation covering 17 out of 36 districts of Maharashtra state. These branches are controlled through 7 Regional Offices.

All 412 branches and controlling offices are under core banking solution (CBS).

Performance highlights of Maharashtra Gramin Bank for the FY 2020-21 (Pre Audit) are as under:

Total Business level was Rs.20682.70 Crore.

Total deposit was Rs.13540.64 Crore and CASA share was 57 %.

Bank has achieved operating profit ofRs.261.70 Crore.

Bank has achieved most of the targets under MoU DAP given by sponsor Bank for the financial year 2020-21 in major key performance areas.

Sr. No. Performance Parameter Target FY 2020-21 Actual as on 31.03.2021
1. Total Deposits 12700.00 13540.64
2. CASA deposits 7000.00 7736.11
3. Total Business 20360.00 20682.70
4. Interest Income 910.00 979.49
5. Non-Interest Income 115.00 167.82
6. Profit Operating 226.00 261.70
7. Recovery in Write Off 5.00 11.52

MGB has deployed 1320 Business correspondents in rural areas to provide door step service to the customers. Bank has opened 23.44 Lakh PMJDY accounts and 11.48 Lakh debit cards are issued to in these accounts. Bank is actively participating in PMJJBY, PMSBY and APY as well as the PMMY scheme declared by the Government of India.

8.2 Performance of METCO

The 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

The company is located at Pune having its branch units at Pune, Mumbai, Thane and Nagpur. It is managing about 1111

Public & Private Trusts. During the year, additional 23 wills were added making total 1306 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 instructions regarding safety during COVID-19 issued by Government of India/ Ministry of

Corporate Affairs. The Company has also donated through its trusts Rs.305 lacs to 857 beneficiaries.

The net profit of METCO for FY 2020-21 stood at Rs.70.85 lakhs.

9. IMPLEMENTATION OF OFFICIAL LANGUAGE POLICY

During the year 2020-21, the Bank has achieved various remarkable achievements in the field of Official Language implementation: i. Bank was awarded Skoch Order-of-Merit 2021 award for Better Implementation of Rajbhasha and became the first bank to receive this award for implementation of official language. ii. Our Kolkata Zonal Office received second prize for Eastern

Region in Regional Rajbhasha Puraskar from Department of Official Language, Ministry of Home Affairs. iii. Various Town Official Language Implementation Committees (TOLIC) convened by other Banks awarded our Kolkata, Goa, Jaipur, Patna Zonal Offices and Varanasi Branch (Lucknow Zone), Jodhpur Branch (Jaipur Zone) for excellent implementation of Official Language. iv. 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 visually challenged employees of the

Bank. v. 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. vi. "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. vii. Hindi version of Bank's mobile banking platform Maha-Mobile has been made available. Information on Bank's website are also provided in Hindi. viii. The facility of "Online Rajbhasha Kosh" & "Online Hindi Roster" is made available on Bank's intranet for the use of employees. ix. "Maha Kosh Mobile App" and "Mahabank Pragati Mobile App" were launched by Shri A. S. Rajeev, MD & CEO during the Rajbhasha Conference on 9th March, 2021 at Hyderabad. This will facilitate the employees to access both these "Apps" through their mobiles.

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 the FY 2020-21, 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. 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 2020-21. The

Secretarial Audit Report is annexed to this Report. There is no secretarial audit qualification for the year under review.

12 DIRECTORS' RESPONSIBILITY STATEMENT:

The Directors confirm that in the preparation of the annual accounts for the Financial Year ended March 31, 2021: 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 that period; c) The directors had taken proper and 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; and 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.

13 CHANGES IN THE BOARD OF DIRECTORS:

During the year 2020-21, the following changes took place in the Board of Directors: Shri A.B. Vijayakumar was appointed as an Executive Director of the Bank by the Government of India w.e.f 10.03.2021 in place of Shri Nageswara Rao Y., who completed his term as an Executive Director of the Bank on 21.01.2021.

14 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. www.bankofmaharashtra.in.

15 BUSINESS RESPONSIBILITY REPORT:

As per the SEBI (Listing Obligations and Disclosure

Requirements) Regulations, 2015, Business Responsibility Report (BRR) 2020-21 of the Bank is available on the Bank's website i.e. www.bankofmaharashtra.in.

16 ACKNOWLEDGEMENT:

The Board of Directors place on record their appreciation for the contribution made by the outgoing Director Shri Nageswara Rao Y.

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
Place: Pune (A.S. RAJEEV)
Date 29th April, 2021 Managing Director and CEO

SECRETARIAL AUDIT REPORT

FOR THE FINANCIAL YEAR ENDED MARCH 31, 2021

To,

The Members, Bank of Maharashtra,

We have conducted the Secretarial Audit of the compliance of applicable statutory provisions and the adherence to good corporate practices by Bank of Maharashtra (hereinafter called the "Bank"). Secretarial Audit was conducted in a manner that provided us a reasonable basis for evaluating the corporate conducts/statutory compliances and expressing our opinion thereon.

Based on our verification of the Bank's books, papers, minute books, forms and returns filed and other records maintained by the Bank and also the information provided by the Bank, its officers, agents and authorized representatives during the conduct of secretarial audit, we hereby report that in our opinion, the Bank has, during the audit period covering the financial year ended on March 31, 2021 complied with the statutory provisions listed hereunder and also that the Bank has proper Board-processes and compliance-mechanism in place to the extent, in the manner and subject to the reporting made hereinafter:

We have examined the books, papers, minute books, forms, and returns filed, and other records maintained by the Bank for the financial year ended on March 31, 2021 according to the provisions of:

(i) The Companies Act, 2013 (the Act) and the rules made thereunder, to the extent applicable; (ii) The Securities Contracts (Regulation) Act, 1956 (‘SCRA') and the rules made thereunder; (iii) The Depositories Act, 1996 and the Regulations and Byelaws framed thereunder;

(iv) Foreign Exchange Management Act, 1999 and the rules and regulations made thereunder to the extent of Foreign Direct Investment,

Overseas Direct Investment and External Commercial Borrowings;

(v) The following Regulations and Guidelines prescribed under the Securities and Exchange Board of India Act, 1992 (‘SEBI Act'): -

(a) The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011; (b) Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (c) The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015; (d) The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018;

(e) The Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014 Not Applicable during the period under review; (f) The Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008;

(g) The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993 regarding the

Companies Act and dealing with client -Not applicable during the period under review;

(h) The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009- Not applicable during the period under review; (i) The Securities and Exchange Board of India (Buyback of Securities) Regulations, 1998; (not applicable during the year) (j) Securities and Exchange Board of India (Bankers to an Issue) Regulations, 1994; (k) Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992; (l) Securities and Exchange Board of India (Depositories and Participants) Regulations, 1996/2018; (m) Securities and Exchange Board of India (Debenture Trustee) Regulations, 1993; (n) other laws applicable specifically to the Bank:

(i) The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 read with The Banking Regulation Act, 1949. (ii) The Nationalised Banks (Management and Miscellaneous Provisions) Scheme, 1970.

(iii) Bank of Maharashtra (Shares and Meeting) Regulations, 2004. (iv) Reserve Bank of India Act, 1934.

(v) Banking Regulations Act, 1949. (vi) Banker's Book Evidence Act, 1891.

(vii) Banking Ombudsman Scheme, 2006.

(viii) The Banking Companies (Period of Preservation of Records) Rules, 1985.

(ix) The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFESI) Act, 2002 and The Security Interest (Enforcement) Rules, 2002.

(x) The Prevention of Money Laundering Act, 2002 and The Prevention of Money Laundering (Maintenance of Records) Rules,

2005.

We have also examined compliance with the applicable clauses of the following:

(i) Secretarial Standards issued by The Institute of Company Secretaries of India. - Not Applicable

(ii) The Listing Agreements entered by the Bank with BSE Limited and National Stock Exchange of India Limited;

During the period under review the Bank has complied with the provisions of the Act, Rules, Regulations, Guidelines, Standards, etc., mentioned above except that the Bank has received show cause notices and awarded penalty or delayed fees/ charges as disclosed by the Bank in point no.9.6 of Schedule 18 to the Audited Financial Statements of the Bank for FY 2020-2021.

We further report that

The Board of Directors of the Bank is duly constituted with proper balance of Executive Directors, Non-Executive Directors and Independent Directors. The changes in the composition of the Board of Directors that took place during the period under review were carried out in compliance with the applicable provisions of the Act. Further, adequate notice is given to all directors to schedule the Board Meetings, agenda and detailed notes on agenda were sent at least seven days in advance as required under LODR 2015, and a system exists for seeking and obtaining further information and clarifications on the agenda items before the meeting and for meaningful participation at the meeting.

Majority decision is carried through, while the dissenting members' views are captured and recorded as part of the minutes.

We further report that there are adequate systems and processes in the Bank commensurate with the size and operations of the Bank to monitor and ensure compliance with applicable laws, rules, regulations, and guidelines. However, penalties have been imposed on the Bank by Regulatory

Authorities in certain cases during the period under review and same is disclosed by Bank in point no.9.6 of Schedule 18 of financial statements for FY 2020-2021.

We further report that during the audit period, the Bank has

(i) Issued Equity Shares to Government of India on Preferential basis;

(ii) Issued Tier II Bonds during the period under review.

(iii) taken no major decisions by the members in pursuance to Section 180 of the Companies Act, 2013 (iv) No Merger / amalgamation / reconstruction, etc.

(v) No Foreign Technical Collaborations

For Joshi & Joshi,

(Formerly known as Apte Joshi & Associates),

Company Secretaries

Harshal Raghavendra Joshi

Partner

FCS: 9897 CP: 10450

UDIN: F009897C000211571

Date: April 29,2021

Place: Pune

   

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
AuditorK Gopal Rao & Co/Batliboi & Purohit
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
R Thamodharan Director(Shareholders) 2021
Chandrakant Bhagwat Company Secretary 2021
A S Rajeev Managing Director & CEO 2021
Hemant Kumar Tamta Executive Director 2021
Manoj Kumar Verma Nominee (RBI) 2021
B Vijaykumar A Executive Director 2021
Hrisheekesh Arvind Modak Nominee 2021
Vandita Kaul Nominee (Govt) 2021

Bank of Maharashtra Listing Information

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

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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