Bank of Maharashtra (BOM) has reported that the pandemic-driven slowdown in the economic activities may lead to a rise in customer defaults, and its impact on the bank will depend on the COVID-19 situation going forward. There has been significant volatility in the global and Indian economy as the outbreak of the pandemic continues to spread.
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.