Bank of Maharashtra has planned to focus more on farm lending. According to recent reports the bank has planned to grow its business by 22 per cent in the current financial year. It has decided to offer loan to retail, small and medium enterprises, agriculture and mid-sized corporate and grow low-cost current account and savings bank account (CASA) deposits.
Bank of Maharashtra is well known for the personal loan it offers for medical expenses, expenses on travel / tour, income tax liability, etc. to help one meet his personal expenses.
Mr. M. G. Sanghvi, Executive Director of the bank said that the lending will be made possible due to the infusion of Rs 352 crore by the Government in the previous month and the headroom will go up to Rs 1,000 crore as Tier-II capital is also supportive.
He added saying that the banks business grew up by Rs 10,000 crore to Rs 1,14,100 crore in the financial year 2011,and the advances grew up from Rs 6,500 crore to Rs 47,400 crore by 16 per cent. The deposits grew up to Rs 66,700 crore from Rs 3,500 crore by 5.5 per cent.