Banks / Bank of Maharashtra

Bank of Maharashtra ("Mahabank")

Public Sector Bank Established 1935 Lowest GNPA Among PSU Banks (Recent Years)
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🏦 Bank Overview

📍
Headquarters
'Lokmangal', 1501, Shivajinagar, Pune - 411005, Maharashtra
👤
MD & CEO
Nidhu Saxena
📅
Established
16 September 1935, Pune — nationalised in 1969
🌐
Official Website
bankofmaharashtra.bank.in ↗
🏛️
Ownership
Government of India (~79%), publicly listed (BSE/NSE: MAHABANK)
🏢
Network
~2,600+ branches, concentrated strength in Maharashtra ("Mahabank" — regional heritage brand)

👥 Leadership — MD & CEO

Current

Nidhu Saxena

Managing Director & CEO, Bank of Maharashtra — appointed for a three-year term effective 27 March 2024, succeeding A.S. Rajeev. Brings over 26 years of diversified banking experience across public sector banks.

Note on designation

Like most public sector banks, Bank of Maharashtra's top executive holds the standard title MD & CEO, appointed by the Government of India on the recommendation of the Financial Services Institutions Bureau (FSIB).

Last Three MD & CEOs

NameTenureNotable Period
A.S. RajeevDec 2018 – Feb 2024Led a major turnaround — Bank of Maharashtra posted the lowest Gross NPA ratio among PSU banks by FY24; later appointed Acting Central Vigilance Commissioner (2026)
Ravindra P. MaratheSep 2016 – Nov 2018Briefly stripped of signing/financial powers in mid-2018 amid the DSK Group loan-fraud probe, later reinstated; completed his term and superannuated normally in Nov 2018
Sushil Muhnot~2013 – Sep 2016Chairman & Managing Director; removed by the government days ahead of his scheduled retirement

📞 Customer Care & Locators

Customer Care Email
hocomplaints@mahabank.co.in

NRI Services: nriservices@mahabank.co.in · ATM Claims: atmclaim@mahabank.co.in

Toll-Free (General Banking)
1800 233 4526 / 1800 102 2636

24×7 account details, deposits, loans, lost card reporting

Head Office Landline
020-2561 4515 / 4518 / 4530
📍 Branch / ATM Locator → 🔎 IFSC Code Finder → 🏛️ RBI Bank Branch/IFSC Master →

💼 Products & Services

💰 Loans

  • Home Loan (Maha Super Housing Loan)
  • Personal Loan
  • Vehicle Loan
  • Education Loan
  • Gold Loan
  • Kisan Credit Card & Agriculture Loans
  • MSME / Business Loans

🏦 Deposits

  • Savings Bank Account
  • Current Account
  • Fixed Deposit
  • Recurring Deposit
  • Tax-Saving Fixed Deposit
  • NRE / NRO / FCNR Accounts

📱 Digital & Forex

  • Maha Mobile App
  • Maha Secure Internet Banking
  • UPI, BHIM Maha UPI
  • WhatsApp Banking
  • Foreign Exchange & Trade Finance
  • Outward/Inward Remittances (SWIFT)

➕ Other Services

  • Maha Bank Credit Card
  • Bancassurance — Life & General Insurance tie-ups
  • Mutual Fund Distribution
  • Demat & Trading
  • Safe Deposit Locker
  • PMJDY, APY, PMJJBY, PMSBY (govt. schemes)

📈 Interest Rates

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Retail Domestic Term Deposit rates below are fetched live from Bank of Maharashtra's official rates page where possible. If the live fetch is unavailable, the last published rates are shown instead.

Fetching live rates…

📊 Financial Results (Last 4 Years)

MetricFY 2025-26 (Mar 2026)FY 2024-25 (Mar 2025)FY 2023-24 (Mar 2024)FY 2022-23 (Mar 2023)
Net Profit (Full Year)₹7,019 Cr₹5,520 Cr₹4,055 Cr₹2,602 Cr
Total Deposits₹3.51 Lakh Cr~₹3.08 Lakh Cr~₹2.73 Lakh Cr~₹2.40 Lakh Cr
Total Advances (Gross)₹2.92 Lakh Cr~₹2.40 Lakh Cr~₹2.09 Lakh Cr~₹1.75 Lakh Cr
Total Business₹6.43 Lakh Cr~₹5.48 Lakh Cr~₹4.82 Lakh Cr~₹4.15 Lakh Cr
Gross NPA Ratio1.45%1.74%1.88%~2.19%
Net NPA Ratio0.13%0.18%0.20%~0.44%
CRAR (Capital Adequacy)18.36%18.71%~17.50%~16.00%
Figures compiled from Bank of Maharashtra's published quarterly/annual press releases and press coverage. Several FY23–FY25 deposits/advances/business figures are approximate (marked ~), interpolated from disclosed YoY growth rates rather than a directly quoted absolute figure; FY23–24 CRAR and FY23 NPA ratios are estimated from the trend and also marked ~. Bank of Maharashtra has consistently reported among the lowest GNPA ratios of any public sector bank in recent years. Always verify precise numbers on Bank of Maharashtra's official Investor Relations / Financial Results page before making financial decisions.

🏛️ RBI Regulatory Information (As on Date)

Regulator
Reserve Bank of India, under the Banking Regulation Act, 1949
Bank Category
Scheduled Commercial Bank (Public Sector) — Second Schedule, RBI Act 1934
D-SIB Status
Not classified as a Domestic Systemically Important Bank by RBI (currently only SBI, HDFC Bank & ICICI Bank hold D-SIB status)
Minimum CRAR Required
11.5% (9% minimum + 2.5% Capital Conservation Buffer, Basel III) — Bank of Maharashtra's actual CRAR: 18.36%
PCA Framework
Not under RBI's Prompt Corrective Action framework
Deposit Insurance
DICGC cover up to ₹5,00,000 per depositor per bank
Grievance Redressal
RBI Integrated Ombudsman Scheme, 2021 — toll-free 14448
More
Browse related RBI Circulars →

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