Bank of Maharashtra has received an approval from Board of Director to raise capital upto Rs 2000 crore by way of preferential Allotment to Government of India/ FI/ other and/ or by way of Qualified Institutional Placement (QIP) issue/ Further public offer (FPO)/ Right issue and/ or AT1 Bonds and Rs 1000 crore by way of issue of Basel III complaint Tier I/ II Bonds or such or other securities at an appropriate time, subject to necessary approvals/ permissions.
The bank has also received an approval to issue of equity shares to Bank of Government of India for an amount aggregating to Rs 831 crore (including premium) on Preferential basis. The Board of Directors of the Bank at its meeting held on July 10, 2020 has considered and approved 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.
