Bank of Maharashtra has received approval for raising equity capital upto Rs 4,498 crore by way of issue of equity shares to Government of India (GoI) through preferential issue subject to necessary approvals/ permissions. The Board of Directors of the bank at their meeting held on January 04, 2019, approved the same.
The Board also gave approval to increase Authorize Capital of bank from Rs 4000 crore to Rs 10,000 crore subject to necessary approvals/ permissions.
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.