The story
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.
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.
In 1961, it acquired three smaller banks in Maharashtra, namely, Bank of Konkan in Malvan, Bank of Nagpur in Nagpur, and Bharat Industrial Bank in Poona.
In July 1969, Bank of Maharashtra was among the 14 major financial institution nationalised by the Government of India.
In 1976, the bank established its first Regional Rural Bank (RRB), "Marathwada Gramin Bank", headquartered at Nanded.
In 1985, the bank opened its 500th Maharashtra branch at Nariman point, Mumbai, equiped with its first ALPM. Its Golden Jubilee year was inaugurated by RBI Governor Dr.Manmohan Singh.
In 2004, Bank of Maharashtra launched an initial public offering (IPO), which reduced the Government of India's ownership stake from 100% to 76.77%
In 2006, Bank of Maharashtra achieved a total business volume if ₹50,000 crore and launched its Core Banking Solution (CBS) implementation.
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In 2023, Bank of Maharashtra introduced "ARJUN" (Automated Remote Junction for Monitoring of Assets under Stress), A mobile application featuring an integrated dashboard for managing stressed assets.
From Wikipedia’s article on Bank of Maharashtra, shared under CC BY-SA 4.0.5