Bank of Maharashtra, a Premier Nationalized Bank, has received its board's approval for allotting 13.33 crore equity shares on preferential basis to Government of India and 9.07 crore shares to LIC of India and its Schemes at a price of Rs 44.09 per share. The Bank will get an equity capital of Rs 588 crore from Government of India and Rs 400 crore from LIC of India in this current quarter in Tier-I capital. The board of company at its meeting held on July 11, 2014 has approved for the same.
Bank of Maharashtra offers several products and services in personal banking such as deposits, savings, personal loans, educational loans, demat services, credit cards, etc. The bank also offers services to agricultural and SME sectors.
