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Bank of Maharashtra
Indian Public Sector Bank From Wikipedia, the free encyclopedia
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Bank of Maharashtra (abbreviated as BoM) is an Indian public sector bank, based in Pune. It was established in 1935 and nationalised by the Government of India in 1969. It has 2,641 branches, as of June 2025.[4]
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Bank of Maharashtra was established on 16 September 1935 in Poona, Bombay Presidency (present day Pune, Maharashtra), under the direction of Mahratta Chamber of Commerce to assist small businesses and traders during the cooperative movement in India.[5][6]
BoM became a scheduled bank in 1944, obtained a banking license in 1955 under the Banking Companies Act, and listed on the Bombay Stock Exchange in 1958.[5]
In 1961, it acquired three smaller banks in Maharashtra, viz., Bank of Konkan in Malvan, Bank of Nagpur in Nagpur, and Bharat Industrial Bank in Poona.[7]
BoM was one of the 14 banks nationalised by the Government of India in July 1969.[8]
BoM started three regional rural banks (RRBs) in association with central and state governments: Marathwada Gramin Bank in Nanded (1976), Aurangabad-Jalna Gramin Bank in Aurangabad (1981), and Thane Gramin Bank in Thane (1986).[9] These RRBs were merged to create Maharashtra Gramin Bank in 2009.[10][11]
In 2004, the bank went public again with an initial public offering, following which Government of India's ownership stake in the bank reduced from 100% to 76.77%.[12][13]
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