Bank of Maharashtra (MAHABANK) is a public sector bank. It commenced business on Feb. 8, 1936 and was nationalized in 1969. M.D. Mallya is the chairman and managing director of the bank. The bank has a branch network comprising 1,345 branches and 13 extension counters spread over 22 states and two union territories as on March 31, 2007. It includes 22 specialized branches in the area of foreign exchange, industrial finance, small-scale industry and hi-tech agriculture. The Bank has 302 automated teller machines operating as of March 31, 2007. The bank opened 29 new branches during the year. The bank has fully-computerized branches. It has implemented core banking solution (CBS) in 66 branches which offer customer convenience products like any branch banking, multi city check facility, ..etc. The CBS network will be extended to 600 branches during the year 2007-2008. Multiple delivery channels like internet banking, mobile banking and so on will be introduced in 2007-2008. The bank has joined national electronic funds transfer (NEFT) with 510 branches going live during the year and also launched an insta remit facility on its RTGS platform. New Initiatives like the corporate agency tie up with United India Insurance Company for sale of general insurance products and with LIC of India for sale of life insurance products are available at all branches. The bank has a tie-up with Franklin Templeton for distribution of mutual fund products; tie-ups with Hero Honda Motors and tractor and power tiller manufacturing companies for loans to farmers; a tie-up with United Nations environment program (UNEP) for implementing solar home systems. The registered and head office are at Lokmangal, 1501, Shivajinagar, Pune-411005, Maharashtra.
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