Bank of Maharashtra is likely to get Rs. 800 crore capital infusion this fiscal

By | August 10, 2011

Pune-based public sector lender Bank of Maharashtra is hopeful of receiving Rs 800 crore from the government as part of the capital infusion plan in the current fiscal.

Mr. A. S. Bhattacharya, CMD, Bank of Maharashtra said that the bank has approached the government for additional capital infusion of Rs 800 crore. He said that the issue is under process and the bank is likely to get it before March, 2012.

He also said that post-capital infusion, the capital adequacy ratio (CAR) of the bank is likely to go up to 14 per cent from the present level of 13.35 per cent.

Bank of Maharashtra is the premier bank of Maharashtra, operating in the country registered on 16th Sept 1935 with an authorized capital of Rs 10.00 lakh and commenced business on 8th Feb 1936. It is also known as a common man’s bank since inception, its initial help to small units has given birth to numerous industrial houses.

Term Loans, Overdrafts, Letters of Credit, Guarantees and many more such products are included in its credit basket. Recognizing individual customer needs Bank of Maharashtra has identified Customer segments. The bank offers home loan, personal loans, vehicle loan, education loans etc.

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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