Your directors have pleasure in presenting the Annual Report of the
Bank with the audited Balance Sheet, Profit & Loss Account and the Report on Business
and Operations for the year ended March 31, 2026.
1 Management Discussion And Analysis
Economic & Banking Scenario 2025-26: Sustained Growth Amidst
Challenges 1.1 Economic Growth:
I. The Indian economy maintained a steady growth trajectory during FY
2025–26 despite a challenging global environment characterized by geopolitical
tensions, supply disruptions and volatility in commodity prices.
II. Real GDP growth for the year is estimated at around 7.6 per cent,
supported by strong domestic demand, sustained public capital expenditure and improving
private investment activity.
III. Economic activity remained broad-based, with stable rural demand
supported by agricultural output and continued strength in urban consumption.
1.2 Inflation and Monetary Policy Environment:
I. Headline CPI inflation remained within the tolerance band during FY
2025–26, with core inflation around 3.7 per cent and food inflation moderating on
account of favorable supply conditions, though risks persisted due to commodity prices and
weather-related uncertainties.
II. The Union Budget maintained a prudent fiscal stance, balancing
consolidation with growth, with continued emphasis on capital expenditure and Kartavya
priorities such as infrastructure, inclusive development, productivity, and financial
sector strengthening.
1.3 Banking Scenario:
I. Public sector banks recorded robust business expansion during FY
2025-26, with total business reaching Rs.283.3 lakh crore (12.8% year-on-year), driven by
healthy growth in credit and deposit portfolios across key segments.
II. Return ratios remained healthy, and operational efficiency
improved, supported by digital adoption and better cost management across banks.
1.4 Credit Growth Dynamics:
I. Public Sector Bank's gross advances stood at Rs.127 lakh crore
registering y-o-y growth of
15.7% as on 31.03.2026, led by sustained traction in Retail,
Agriculture and MSME segments.
II. In Public sector Banks, Retail, Agriculture and MSME advances
registered healthy y-o-y growth of 18.1%, 15.5% and 18.2% respectively, highlighting
important role of Public sector Banks in supporting financial inclusion and growing
entrepreneurship.
1.5 Deposit Mobilization Challenges:
I. Deposit mobilization remained a key focus area during the year amid
competitive conditions and evolving liquidity dynamics.
II. Banks continued to focus on granular deposit growth and CASA
mobilization, supported by customer engagement and product innovation.
1.6 Interest Rate Trends:
I. The monetary policy stance remained stable during FY 2025–26,
with the policy repo rate maintained at 5.25 per cent as on March 2026. II. Elevated cost
of funds and competitive deposit pricing exerted pressure on Net Interest Margins (NIMs)
across the banking sector.
1.7 Asset Quality Improvements:
I. In Public sector banks, Asset quality has been improved
significantly with gross non-performing assets (GNPA) declining to historic low of 1.93%
as on 31.03.2026 reflecting, improved recovery mechanism, prudent underwriting standards
and effective risk management practices.
II. Net NPAs moderated to 0.39% as on 31.03.2026 supported by improved
recoveries, lower slippages and strengthened credit monitoring frameworks.
1.8 Technological Transformation:
I. Digital banking, automation and analytics continued to enhance
operational efficiency and customer experience during FY 2025–26. The Bank is
strengthening its digital infrastructure and leveraging advanced technologies and
partnerships to deliver seamless, integrated banking services. Adoption of advanced
technologies supported improvements in credit monitoring, fraud detection and service
delivery across the banking system.
II. End-to-End Digital Journeys
Implemented multiple digital journeys across retail, MSME, and
agriculture segments, including PM Suryaghar, EWS Housing Loans, Pre-approved Personal
Loans, E-GST MSME onboarding, Digital Mudra, SHG, and Kisan Tatkal Loans.
III. Integration with RBIH's Unified Lending Interface enables
seamless digital lending.
Upcoming offerings such as Digital KCC, Business Loans (ETB/NTB), and
Digital Housing Loans will further scale the digital footprint.
IV. Digital Infrastructure Enhancement
Deployed Digi LEAP, a tablet-based account opening solution at branches
to improve compliance, enhance customer experience, and reduce manual effort. The solution
is being extended to field functionaries for faster onboarding.
V. Mobile Banking Transformation
Launched "Zen Lyfe" mobile banking app. The platform
integrates banking with lifestyle services, offering payments, transfers, and curated
services like travel, shopping, and dining through a seamless user experience.
VI. Key Action Points - Future Goals a) Establish CoEs &
Standardization: Set up Centers of Excellence and adopt industry frameworks to drive
consistency, quality, and scalable delivery. b) Agile & Responsive IT Delivery:
Embed Agile methodologies to accelerate execution and enhance business responsiveness. c)
Real-time, Data-led Operations: Enable near real-time data capabilities to support
faster decisions and operational agility. d) Strengthened Governance & Resilience:
Implement ISO-led governance and robust incident management for higher
reliability and continuity. e) Integrated Operating Model: Transition to a layered
IT structure (BA, CoE, QA, Testing) to drive efficiency and sustained performance
improvement.
1.9 India's Economic and Banking Outlook 2025-26 & Beyond
India continues to remain one of the fastest-growing major economies,
supported by strong domestic demand, sustained public investment, and improving private
sector participation. Real GDP growth for FY 2025–26 is estimated at around 7.6 per
cent, while global institutions such as the International Monetary Fund and World Bank
project India's growth in the range of 6.5–7.0 per cent in the near term,
reinforcing its position among leading economies.
The Government's continued emphasis on infrastructure development,
manufacturing, digitalization, and financial inclusion, aligned with national priorities
and the vision of Viksit Bharat 2047, is expected to support medium-term growth. Improving
employment conditions, stable inflation and continued focus on capital expenditure are
likely to sustain consumption and investment activity.
1.10 Charting Resilient Future
India's long-term growth trajectory remains well supported by
favorable demographics, expanding digital infrastructure, and increasing formalization of
the economy. The focus on key priorities under the Viksit Bharat vision, including Yuva,
Garib, Mahilayen and Annadata is expected to strengthen inclusive growth while addressing
the needs of a dynamic and evolving population.
The continued emphasis on manufacturing through Make in India,
technology transfer and strengthening domestic capabilities is positioning India as a key
driver of global economic activity and an emerging leader of the Global South. Parallelly,
sustained efforts towards improving last-mile delivery of benefits, targeted incentives
and policy support are aiding formalization and enhancing economic participation.
Energy self-sufficiency, transition towards sustainable sources and
strengthening of domestic production ecosystems are further supporting the shift from a
developing to a near-developed economy.
The banking sector will play a critical role in this transition, with
increased focus on deposit mobilization to strengthen liquidity buffers and Liquidity
Coverage Ratio (LCR), while supporting credit growth. Strengthened balance sheets,
improved asset quality and enhanced digital capabilities will enable banks to cater
effectively to evolving customer needs and support long-term economic transformation.
2 Bank's Performance: Strong Growth Across Key Metrics (FY
2025-26)
2.1 The bank demonstrated robust financial performance in FY 2025-26,
achieving notable growth across key financial parameters.
I. Overall Business Growth of 17.47%: The total business expanded
to <6,42,531 crore as of March 31, 2026, marking a YOY increase of 17.47% from
<5,46,979 crore as of March 31, 2025.
II. Deposits Grew by 14.14%: Total deposits reached <3,50,564
crore as of March 31, 2026, reflecting a YOY growth of 14.14% from
< 3,07,143 crore as of March 31, 2025.
III. CASA Strengthens by 12.48%: CASA deposits, a key indicator of
low-cost deposits, increased to
< 1,84,087crore as of March 31, 2026, reflecting a YOY growth of
12.48% from < 1,63,657 crore on March 31, 2025.
IV. Loan Portfolio Increases by 21.74%: Gross advances grew to <
2,91,967 crore as of March 31, 2026, demonstrating a YOY increase of 21.74% compared to
< 2,39,837 crore on March 31, 2025.
V. Operating Profit Soars by 16.17%: Operating profit witnessed a
rise of 16.17% YOY, reaching
< 10,826 crore as of March 31, 2026, compared to < 9,319 crore
for the year ended March 31, 2025.
VI. Net Profit Up by 27.17%: Net profit achieved an impressive YOY
increase of 27.17%, climbing to
< 7,019 crore as of March 31, 2026, from < 5,520 crore for the
year ended March 31, 2025.
2.2 Financial Ratios
The various financial parameters of the Bank during FY 2025-26 are as
under:
| Particulars |
2025-26 |
2024-25 |
| EPS (Rs) |
9.13 |
7.48 |
| Cost to Income Ratio |
|
|
| (percent) |
37.08 |
38.37 |
| Return on assets (percent) |
1.86 |
1.75 |
| Return on equity (percent) |
23.19 |
22.92 |
| Book value per share (Rs) |
39.36 |
33.65 |
| Profit per Branch |
|
|
| (Rs.in lakh) |
252.04 |
211.81 |
| Profit per employee |
|
|
| (Rs.in lakh) |
45.01 |
37.83 |
| Business per Branch |
|
|
| (Rs.in crore) |
230.71 |
209.89 |
| Business per employee |
|
|
| (Rs.in crore) |
41.20 |
37.49 |
| Interest income as per cent |
|
|
| to Average working funds |
7.78 |
7.92 |
| Non-Interest income as |
|
|
| per cent to average |
|
|
| working funds |
0.94 |
1.10 |
| Net Interest Margin (percent) |
3.90 |
4.00 |
| Operating Profit as per cent |
|
|
| to average working Funds |
2.88 |
2.96 |
| Staff expenses as a per cent |
|
|
| to average working funds |
0.90 |
1.09 |
| Dividend (per cent) |
22.00 |
15.00 |
| Net worth (< in crore) |
30,272.42 |
25,880.52 |
| CRAR (%) |
18.36 |
20.53 |
| Of which, Tier I CRAR (%) |
15.41 |
16.86 |
2.3 Income, Expenditure and Profitability
The total income of the Bank increased to < 32,823 crore in FY
2025-26 as compared to < 28,402 crore in FY 2024-25.
The detailed income/expenditure components are as under:
(< in Crore)
| Particulars |
2025-26 |
2024-25 |
Variation |
|
|
|
(%) |
| Interest / discount |
|
|
|
| on advances / bills |
22,490 |
19,292 |
16.58 |
| Income on |
|
|
|
| investments |
6,520 |
5,360 |
21.63 |
| Interest on |
|
|
|
| interbank lending |
|
|
|
| & other Interest |
271 |
296 |
(8.13) |
| Total Interest |
|
|
|
| Income |
29,282 |
24,947 |
17.37 |
| Non-interest |
|
|
|
| income |
3,541 |
3,454 |
2.51 |
| Total Income |
32,823 |
28,402 |
15.57 |
| Interest on |
|
|
|
| deposits |
13,472 |
12,295 |
9.58 |
| Interest on |
|
|
|
| borrowings & |
|
|
|
| other Interest |
2,145 |
987 |
117 |
| Staff expenses |
3,376 |
3,442 |
(1.93) |
| Other Operating |
|
|
|
| expenses |
3,003 |
2,358 |
27.34 |
| Total Non-Interest |
|
|
|
| Expenses |
6,379 |
5,801 |
9.97 |
| Total Expenses |
21,997 |
19,083 |
15.27 |
| Operating Profit |
10,826 |
9,319 |
16.17 |
| Provisions and |
|
|
|
| Contingencies |
3,807 |
3,799 |
0.19 |
| Net Profit |
7,019 |
5,520 |
27.17 |
2.4 Compliance with Minimum Public Shareholding guidelines
I. On 1st December 2025, the Government of India, as promoter,
initiated and successfully completed an Offer for Sale (OFS) of 46,15,68,297 equity
shares, representing 6% of the Bank's paid-up capital, in line with SEBI guidelines.
The OFS involved only the sale of existing shares with no proceeds to the Bank.
The Offer for Sale (OFS) was successfully completed, resulting in
compliance with SEBI's minimum public shareholding requirement of 25%.
2.5 Net Worth and Capital Adequacy Ratio
a. Net Worth Growth: The Bank's net worth increased to <
30,272.42 crore as of March 31, 2026, from < 25,880.52 crore as of March 31, 2025. b.
Strong Capital Adequacy: As of March 31, 2026, the capital adequacy ratio stood at
18.36%, comfortably exceeding the regulatory requirement of 11.50% (including the Capital
Conservation Buffer) under Basel III norms. The Common Equity Tier 1 (CET1) capital ratio
was robust at 14.59%.
2.6 Dividend Recommendation
Your Bank's Board of Directors has recommended a final dividend of
< 1.20 per equity share (12%) on the paid-up equity share capital of < 10 per share
for the financial year 2025-26. This is in addition to the interim dividend of < 1.00
per equity share (10%) declared on 13.01.2026 and paid during the financial year.
The final dividend will be paid to members whose names appear in the
Register of Members and the Beneficial Ownership Position provided by NSDL/ CDSL as of the
close of business hours on Friday, 5th June, 2026.
This recommendation was approved at the Board meeting held on April
20, 2026. Further it is informed that the Record Date for determining the eligibility
of members entitled to receive dividend on equity shares is Friday, 5th June, 2026.
Dividend, if approved by the shareholders of the Bank, shall be paid after the AGM to
those shareholders, whose names appear in the Bank's Register of Members/ Register of
Beneficial Owners maintained by the Depositories viz., National Securities Depository
Limited and Central Depository Services (India) Limited as at the close of business hours
on Friday, 5th June, 2026.
2.7 Sectoral Deployment of Credit
| Particulars |
OS as on 31.03.2026 |
Percentage to total OS |
OS as on 31.03.2025 |
Percentage to total O/s |
| Industry of which |
98665 |
34.52% |
79224 |
33.03% |
| i. Infrastructure |
41337 |
14.46% |
37028 |
15.44% |
| ii. Chemicals & Chemical Products |
3322 |
1.16% |
2100 |
0.88% |
| iii. Petroleum (Including Natural Gas) |
3208 |
1.12% |
3998 |
1.67% |
| iv. Iron and Steel |
3298 |
1.15% |
3249 |
1.35% |
| v. NBFCs |
38350 |
13.42% |
25737 |
10.73% |
| vi. Engineering |
4135 |
1.45% |
3259 |
1.36% |
| vii. Construction |
852 |
0.30% |
1770 |
0.74% |
| viii. Other Industries |
2183 |
0.76% |
2083 |
0.87% |
| Agriculture |
40213 |
14.07% |
35547 |
14.82% |
| MSME |
53547 |
18.73% |
48369 |
20.17% |
| Housing |
49479 |
17.31% |
38346 |
15.99% |
| Education |
2992 |
1.05% |
2676 |
1.12% |
| Exports |
3274 |
1.15% |
2145 |
0.89% |
| Commercial Real estate |
7775 |
2.72% |
7367 |
3.07% |
| Gross Advances (Domestic) |
285825 |
|
239837 |
|
3
Priority Sector Lending
The Bank's Commitment to Priority Sector Lending
The Bank understands that a strong agricultural sector and a bustling
small business ecosystem are the backbone of equitable and sustainable development, like
two strong legs for a healthy body. That's why we take Priority Sector Lending (PSL)
very seriously, exceeding the mandatory target by a good margin. In the financial year
2025-26, we achieved a PSL ratio of 49.50% of ANBC (Adjusted Net Bank Credit), i.e.
< 118374.27 Cr of advances (Including investments).
3.1. Empowering Our Kisans: Building a Stronger Foundation
Knowing the unique challenges our kisans (farmers) face, the Bank has
put strategies in place to give agriculture a real boost:
I. Lending a Helping Hand: With a total outstanding advance of <
40212.06 Cr, we sanctioned < 24,401.68 Cr in fresh loans for agriculture and related
activities during FY 2025-26, underscoring our unwavering commitment to our farmers.
II. Building a Brighter Tomorrow for Our Kisans:
We at the Bank are firm believers in investing in the future of our
agriculture. This is why your bank has witnessed a significant jump of 59.31% in
investment credit, with fresh sanctions of
< 16150.96 Cr in FY 2025-26. This substantial investment empowers
our kisans to invest in critical infrastructure and modern technologies. By doing so, our
kisans will be well-equipped to increase their crop yields in the long run, ensuring a
more prosperous future for themselves and Indian agriculture as a whole.
III. Unlocking Liquidity: Your Bank's Swarna Krishi Loans have
been a game-changer for our kisans.
By leveraging the value of their gold, we've seen a massive 50.08%
jump with fresh sanctions of
< 12388 Cr in FY 2025-26. This innovative scheme unlocks much-needed
cash flow, helping our farmers bridge financial gaps and cover everyday expenses.
It's like turning their gold into golden opportunities.
IV. Standing with Each Kisan, Customized Loan Solutions: Bank
understands that every farm is unique, just like every farmer. A "one size fits
all" approach simply won't do. That's why the Bank launched a successful
campaign for MKCC
Review/Renewal, completing 43.28% in FY 2025-26. This initiative
ensures our kisans get the support they deserve. Through this program, existing loans are
reviewed and customized to fit each farmer's specific needs and circumstances.
It's all about putting our kisans first and empowering them to succeed.
V. Nurturing Innovation: The Bank actively supports the growth of
Agro and Food processing industries, a crucial step in adding value to our agricultural
produce. Under the "Maha Krishi Samruddhi Scheme," Bank has sanctioned a
significant < 1440.01 Cr in FY 2025-26, empowering these industries to contribute even
more to the agricultural value chain.
VI. Making Access Easier through Digital Initiative: Financial
inclusion is a priority for the Bank. Bank has digitized the KCC Renewal process, making
it simpler for our kisans to access credit. Bank has also onboarded KCC Jan Samarth STP
Journey for processing of KCC proposal up to Rs. 2.00 Lakhs Maharashtra State and 1.60
Lakhs for Karnataka State.
VII. Weathering the Storms: The Bank understands that farming can
be a challenging profession, and natural calamities like droughts, floods, and hailstorms
can cause immense hardship for our kisans. That's why Bank stands
shoulder-to-shoulder with them through thick and thin. Within regulatory guidelines, Bank
extends timely relief measures to help our farmers get back on their feet after such
disasters. Bank is committed to being a dependable partner in their journey towards a
secure future.
A. MARDEF's Achievements: a. Mahabank Rural Self Employment
Training Institutes (MRSETIs): These institutes train individuals for self-employment,
with a settlement rate of 75% & credit linkage Rate of 52 % for new business ventures
initiated by trained participants. In 2025-26, 8360 individuals received training against
target of 7820 and 4345 trainees secured credit linkages for their businesses. b.
Financial Inclusion: MRSETIs actively promote financial inclusion and literacy by
raising awareness about government schemes and facilitating the opening of savings
accounts and enrollment in social security programs.
B. Bank exposure to select segments:
| Sr. No. Sector |
As on 31.03.2026 |
As on 31.03.2025 |
% increase |
|
|
|
(+/-) |
| 1 Micro / |
|
|
|
| SHG Finance |
3516 |
3250 |
8.18% |
| 2 Weaker |
|
|
|
| Section |
31474 |
25354 |
24.14% |
| 3 SC/ST |
|
|
|
| Beneficiaries |
6417 |
6998 |
-8.30% |
| 4 OBC |
|
|
|
| Beneficiaries |
23827 |
18762 |
29.99% |
| 5 Minorities |
|
|
|
| Communities |
17211 |
13916 |
23.67% |
3.2 Fueling India's Growth Engine: The Bank's Commitment to
MSMEs
Micro, Small, and Medium Enterprises (MSMEs) play a pivotal role in the
Indian economy by fostering inclusive growth and generating substantial employment
opportunities, both directly and indirectly. Recognizing their vital contribution, the
Bank has implemented a holistic approach aimed at supporting the MSME sector and
strengthening its role in the country's overall economic progress.
I. Record Growth and Exceeding Targets
The Directors take note of the Bank's continued emphasis on the
MSME segment, which resulted in a year on year growth of 10.71 per cent in MSME
advances as of March 31, 2026. During the year, MSME lending increased by <
5,178 Cr in absolute terms. Consequently, total outstanding MSME advances stood at <
53,547 Cr as on March 31, 2026, reflecting the Bank's sustained commitment to
supporting this priority sector and its contribution to economic growth and employment
generation.
Performance in FY'26
The Bank's unwavering support to the MSME sector is further
reflected in its performance during FY 2025–26. The Bank continued to maintain
a strong focus on micro enterprises within the MSE portfolio, in line with regulatory and
policy objectives. As on March 31, 2026, the share of Micro enterprises in total MSE
outstanding stood at 66 per cent, exceeding the stipulated target of 60 per cent.
This performance underscores the Bank's commitment to promoting inclusive growth by
strengthening credit flow to micro enterprises.
II. MUDRA: Empowering Aspiring Entrepreneurs
The Bank actively participates in the Pradhan Mantri Mudra Yojana
(PMMY) scheme, providing crucial credit to small businesses and non-farm enterprises
engaged in manufacturing, trade, and services. In FY'26, the Bank sanctioned a
commendable < 6,420.11 Cr under PMMY, exceeding the ambitious target of < 6,400 Cr.
This 100.31% achievement rate reflects the Bank's dedication to empowering
small-scale entrepreneurs.
III. Beyond Lending: A Holistic Approach
The Bank's engagement with MSMEs goes beyond credit delivery and
encompasses a range of initiatives aimed at strengthening their overall growth ecosystem. a.
MSME Outreach Initiatives: As part of its ongoing engagement with the MSME segment,
the Bank undertook a series of outreach initiatives during the year across multiple
geographies. These initiatives enabled the Bank to interact with prospective enterprises,
gain insights into their banking needs, and extend appropriate financial solutions. The
programs facilitated deeper engagement with MSMEs and reinforced the Bank's presence
at the grassroots level. b. Cluster-Based Lending: The Bank is adopting a focused
cluster-led approach by designing sector- and activity-specific offerings across various
regions to drive scale and volume. Dedicated financing solutions have been rolled out for
the Glass & Bangles cluster in Firozabad (Uttar Pradesh) and Textile clusters in
Surat, Kolhapur, Jaipur, Tirupur, Coimbatore and Malegaon. c. Segment-Specific MSME
Products: Loan products are being tailored to meet the distinct needs of different
MSME segments.
Eligible categories such as Doctors, CAs, CSs, Architects, Contractors,
Hospitality units and Transport operators are offered competitive interest rates, longer
repayment tenors, and concessions in processing fees and BG/LC charges. d. MSME
Capacity Building and Networking:
The Bank actively promotes financial awareness among MSMEs through
workshops, webinars and advisory initiatives. It also facilitates growth by organizing
networking platforms that connect MSMEs with investors, suppliers and other key
stakeholders. e. Focus on Women and Young Entrepreneurs: Special loan schemes have
been introduced for Women and Young Entrepreneurs to enable easier access to credit,
supporting their economic upliftment and social empowerment. f. Support to MSME Start
ups: Special loan products have been introduced to support MSME Start ups by
addressing their early stage financing needs and facilitating sustainable business growth.
g. Digital and Cash Flow–Based Lending: By Leveraging technology, the Bank is
expanding its digital lending portfolio. Financing to micro units is increasingly driven
by cash flow assessment using digital footprints, with reduced dependence on collateral
security. h. Co-Lending Partnerships: The Bank is enhancing its outreach through
strategic collaborations with NBFCs, fintech firms and e commerce platforms under the Co
Lending framework. i. Green Financing Initiatives: To encourage sustainable
practices, the Bank offers incentivized financing to MSMEs undertaking renewable energy
and environmentally responsible projects. A dedicated scheme supports installation of
captive solar power systems to promote clean energy and lower operating costs. For
proposal having exposure above 50 Crore, bank is offering concession in ROI based on ESG
Score. j. Credit guarantee cover and capital / interest subsidy: The Bank
facilitates access to credit guarantee cover and capital/interest subsidies under various
Government schemes, aiding financial inclusion and accelerating MSME onboarding. k.
Trade Receivables Discounting System (TReDS): A centralized platform has been
developed to streamline and strengthen the Bank's Trade Receivables Discounting
System (TReDS) operations. TReDS onboarding and bidding has been centralized to build
quality portfolio. l. Various IT initiatives for process improvement are as under:
O Automation of validation of ZED certification in CBS through ZED
portal (www.zed.msme.gov.in) and passing of applicable incentives to beneficiaries. O
Automated CGTMSE fee payments.
System automatically processes guarantee fee and annual guarantee fee
payments if sufficient funds are available during the debit run. It targets the following
accounts based on the facility covered under CGTMSE:
IV. Digital Products Initiative
In line with the Bank's strategic focus on digital transformation
and process automation, several end-to-end digital credit journeys were implemented during
the year to enhance operational efficiency, improve customer experience, and support
Government of India initiatives for the MSME sector. The Bank is also in the process of
launching additional digital products to ensure faster, hassle free credit access for
MSMEs.
Digital PM SVANidhi: The Bank has successfully implemented a fully
Straight Through Processing (STP) digital journey for loans under the Pradhan Mantri
SVANidhi Scheme. This initiative facilitates faster credit delivery to street vendors with
minimal manual intervention, thereby improving turnaround time and ensuring seamless
access to institutional credit.
Digital MUDRA: A digital STP journey has been launched for MUDRA
credit facilities (Cash Credit
/ Term Loan) up to < 10 lakh. The facility is available on a PAN
India basis for Existing-to-Bank (ETB) customers through a fully digital mode, while
New-to-Bank (NTB) customers are onboarded through an assisted digital process. This
initiative has significantly reduced the TAT and streamlined credit delivery under the
MUDRA framework.
Auto Review / Renewal of MSME Working Capital Facilities up to <
10 Lakh: The Bank has introduced automation for review and renewal of existing MSME
Working Capital facilities up to < 10 lakh through an STP-enabled system. The key
objectives of this initiative include: O Significant reduction in manual processing and
manpower deployment at branches across the Bank.
O Enhanced customer convenience by substantially reducing, and in many
cases eliminating, the need for physical branch visits.
Maha E GST Scheme: The Bank has launched a digital credit journey
under the Maha e GST Scheme for sanction of Cash Credit facilities up to < 25 lakh to
MSME customers. The credit assessment is carried out using a data-driven model based on
GST and other digital footprints available within the financial ecosystem, enabling quick
and informed credit decisions.
Digital PM Vishwakarma: The Bank has also rolled out a fully STP
digital journey for credit under the Pradhan Mantri Vishwakarma Scheme, thereby ensuring
efficient implementation of the Government's initiative aimed at supporting
traditional artisans and craftsmen through timely and hassle-free access to credit.
V. Looking Ahead: Building a Stronger MSME
Ecosystem
The Bank's steadfast commitment to the MSME sector is reflected in
its focused efforts to achieve and surpass targets under key Government schemes such as
MUDRA, PM Vishwakarma, Stand Up India and PMEGP. In addition, the Bank is actively
extending credit support to MSMEs under CGTMSE and focusing on providing support to start
ups under the Credit Guarantee Scheme for Start ups (CGSS). These initiatives are expected
to significantly strengthen the Bank's MSME credit portfolio while enabling a larger
number of enterprises to grow, sustain, and contribute to economic development.
3.3 Fulfilling Common Man Dreams: The Bank's Commitment to Retail
Lending
Retail lending continued to be an important growth driver and a
stabilising component of the Bank's advance portfolio during the year under review.
The Bank's retail credit strategy is anchored in balanced growth with due emphasis
on risk management and asset quality, with a strong focus on extending affordable
and accessible credit to a wide spectrum of customers.
Retail advances play a critical role in supporting household
aspirations such as home ownership, education, mobility and other personal requirements,
while contributing to portfolio granularity and long term sustainability of earnings. The
Bank offers a comprehensive suite of retail loan products catering to diverse customer
needs, including housing loans, education loans, vehicle loans, gold loans and personal
loans, supported by prudent underwriting standards and robust monitoring mechanisms.
During the year, the Bank pursued calibrated expansion of retail
credit, with a conscious emphasis on secured lending and quality accretion, even amidst a
firm interest rate environment. Housing finance remained the anchor of the retail
portfolio, reflecting continued demand for residential housing and the Bank's
long standing commitment to this segment.
I. Sectoral deployment of retail credit:
| Segment |
OS as on 31.03.2026 |
Percentage to total OS |
OS as on 31.03.2025 |
Percentage to total OS |
| Housing |
49479.39 |
57.63% |
38346.44 |
59.13% |
| Education |
2992.37 |
3.49% |
2675.73 |
4.13% |
| Vehicle |
6318.22 |
7.36% |
4062.84 |
6.26% |
| Other Retail |
27066.94 |
31.52% |
19767.96 |
30.48% |
| Total Retail |
85856.92 |
100% |
64852.97 |
100% |
Housing loans continued to dominate the retail portfolio, accounting
for about 58% of total retail advances. Growth in housing and vehicle loans
supported overall expansion, while the relative moderation in the share of "Other
Retail" loans reflects a conscious strategy of portfolio optimization and risk
alignment.
II. Scheme wise Performance:
| SN |
Scheme |
Brief Description |
Portfolio as of Mar
'26 |
NPA % |
| 1 |
Maha Super Housing Loan Scheme |
Housing Sector being the thrust area, Bank
has various Housing Loan schemes in place to meet the needs of all economic segments. Bank
offers housing loan for "purchase / construction of new / existing house / flat,
repairs / renovation / alteration of existing house / flat, purchase of plot and
construction thereon". |
49479.39 |
0.15 |
| 2 |
Maha Super Car Loan Scheme and Mahabank
vehicle Loan scheme |
Bank offers Vehicle loan schemes for purchase
of New / Second hand four wheelers i.e. Car, Jeep, Multi Utility vehicles (MUVs), SUV,
electric vehicles etc. for personal use (i.e. not for hiring/ferrying passengers) for
individuals (18 years and above) and Non-Individuals. |
6318.22 |
0.14 |
| 3 |
Education Loan Scheme |
Bank is implementing IBA Model Education Loan
Scheme, PM Vidyalaxmi Scheme & Maha Scholar Overseas Education Loan scheme to provide
hassle free Education loan to all meritorious and deserving students for pursuing higher
studies /education in India and abroad.(including co lending) |
2992.37 |
0.12 |
| 4 |
Loan Against Self- Occupied Property |
Bank offers Loan Against Self-Occupied
Property in which loan is given to the Individual borrower against the property. The end
use of the loan is for meeting varied personal needs like Children's Education,
marriage of children, medical treatment, travel/ tour expenses, buying vehicle or hi-tech
gadgets, other domestic needs etc. |
2388.87 |
1.08 |
| SN |
Scheme |
Brief Description |
Portfolio as of Mar
'26 |
NPA % |
| 5 |
Mahabank Top up Loan Scheme |
In order to extend additional credit support
to existing housing loan borrowers as well takeover of existing housing loans from other
banks with additional facility of Top-up Loan, Bank offers "Mahabank Top Up loan
Scheme".Under the scheme credit is extended for variety of domestic purposes like
children's education, marriage of children, medical treatment, buying a vehicle or
hi-tech gadgets and other domestic needs etc. |
4237.84 |
0.13 |
| 6 |
Mahabank Gold Loan Scheme(Retail) |
With a view to tap the potential of gold
loans as a lucrative asset and to cater to the needs of meeting General consumption as
well as Agriculture use, whatsoever which include cultivation, development of agricultural
land, agri allied activity & personal expenditure for varied needs like marriage,
higher education, medical emergencies, business travel etc, Bank has loan product as
"Mahabank Gold Loan Scheme". |
10219.91 |
0.11 |
| 7 |
Mahabank Aadhar Loan Scheme |
To cater to the needs of our existing pension
account holders in meeting their personal emergencies or expenses, pilgrimage, medical and
domestic needs etc., Bank offers "Mahabank Aadhar Loan Scheme". |
799.37 |
0.28 |
| 8 |
Personal Loan |
Bank offers Personal loan to cater to the
needs of salaried individual, professionals & business class of customers for meeting
other personal expenses, medical or domestic expenses etc. |
3741.21 |
1.47 |
III. FY 2025-26 at a Glance:
Bank's commitment to empowering individuals and families is
reflected in the impressive growth of Bank's retail portfolio, reaching a whopping
< 85856.92 Cr as of March 31, 2026. Let's explore some key
initiatives that fueled this success:
During the year, the following key initiatives supported the expansion
of retail advances:
i. Centralised Processing of Mortgage based Loans: Centralised
Processing Cells (CPCs) were made operational across all zones for mortgage based loan
products such as Housing Loans, Loan Against Property and Top Up Loans.
The centralised processing mechanism facilitated uniform credit
appraisal, improved turnaround times and enhanced internal controls. ii. Expansion of
Housing Finance Branches:
Considering the sustained demand for housing finance, the Bank
established Housing Finance Branches at 50 major centres, including Tier II
locations. These specialised branches enabled focused sourcing, faster processing of
housing loan proposals and improved customer service. iii. Rationalisation of Central
Processing Structure: The central processing framework was further strengthened by
clearly defining mandates, whereby CPCs were aligned to process mortgage based loan
proposals from mapped branches. This initiative improved governance, standardisation and
accountability in retail credit operations.
The Bank continued its efforts towards simplification and digitisation
of retail lending processes with an objective to enhance customer convenience and
operational efficiency. i. Competitive Pricing: Retail loan products were offered
at competitive interest rates, ensuring affordability for customers while maintaining
appropriate risk adjusted returns. ii. Streamlined Retail Loan Processing: Retail
loan processing was further strengthened through the effective use of loan management
systems, including integration of Loan Against Property and Top Up Loans, enabling
seamless processing and improved monitoring. iii. Digital Loan Processing: Digital
loan processing and Straight Through Processing (STP) were implemented for select retail
loan products, resulting in reduced documentation requirements and faster loan
sanctioning. iv. Direct Selling Agent (DSA) Portal: A dedicated portal for Direct
Selling Agents was introduced to streamline lead management and commission settlement. The
initiative contributed to improved productivity and reduced operational dependency on
manual processes. v. Digital Enablement of Retail and Government linked Schemes: Digital
platforms were developed for schemes such as PM Surya Ghar, PM Vidyalakshmi Education Loan
and Digital Car Loans, enabling seamless and hassle free loan application and sanctioning.
vi. Progress towards End to End Digital Journeys: The Bank continued to work
towards end to end digital enablement of education loans, housing loans, personal loans
and other retail products, with a focus on minimising customer touchpoints and
documentation.
Supporting Environmental Sustainability
In line with the Government of India's initiatives and the
Bank's commitment towards sustainable development, the Bank continued to promote
environmentally responsible retail loan products.
i. Green Vehicle Loans: Under the "Maha Bank Green Vehicle
Loan Scheme", financing support was extended for purchase of electric vehicles to
encourage adoption of environmentally cleaner mobility solutions.
ii. Green Housing Loans: The Bank supported eco friendly housing
projects through the "Maha Bank Green Housing Loan" scheme, facilitating
investment in sustainable living solutions.
iii. PM Surya Ghar – Muft Bijli Yojana: Under the PM
Surya Ghar – Muft Bijli Yojana, the Bank extended financing
support for installation of rooftop solar panels, enabling households to generate
renewable energy and reduce dependence on conventional power sources.
Outlook on Retail Credit – FY 2026 27
Looking ahead, the Bank will continue to pursue calibrated growth in
retail credit, with emphasis on secured lending, portfolio granularity and asset quality.
The retail lending strategy for FY 2026 27 will focus on strengthening digital
capabilities, improving process efficiency and expanding reach through specialised
branches and partnerships, while remaining aligned with the prevailing interest rate
environment and regulatory guidelines. The Bank will also continue to enhance credit
appraisal and monitoring mechanisms to ensure sustainability of growth and resilience of
the retail loan portfolio.
4 Bridging the Gap: The Bank's Commitment to Financial
Inclusion
The Bank recognizes the vital role financial inclusion plays in
empowering individuals and driving national economic growth. We are firmly committed to
the national agenda of ensuring that every Indian, regardless of location or
socioeconomic background, has access to essential banking products and services.
A. Making Banking Accessible for All
During the year 2025-26, the Bank has made significant strides towards
achieving this goal. We successfully opened a staggering 8.23 lakh new Pradhan
Mantri Jan Dhan Yojana (PMJDY) accounts. This translates to providing access to basic
banking facilities like savings accounts, debit cards, and overdraft protection to over a
million previously unbanked individuals.
Banks Performance in Financial Inclusion are as below:
|
Particulars |
2024-25 |
2025-26 |
| FI Plan |
No of Transactions by BCA (in lakhs) |
193.20 |
198.94 |
|
Amt. of Transactions (in Cr) |
15479.59 |
15099.02 |
| PMJDY |
No. of PMJDY accounts (in lakhs) |
80.61 |
86.68 |
|
Of which Aadhar Seeded (in Lakhs) |
77.30 |
83.49 |
|
% of Aadhar Seeding |
95.89% |
96.32% |
|
Of which Mobile Seeding (in Lakhs) |
68.75 |
74.26 |
|
% of Mobile Seeding |
85.29% |
85.67% |
|
Of which Ru-pay card issued (in Lakhs) |
44.92 |
52.62 |
|
% of Ru-pay card issued |
55.73% |
60.71% |
|
Balance in PMJDY A/c (in Crore) |
4538.87 |
5819.75 |
|
Average balance per account (actual) |
5631.00 |
6714.00 |
|
PMJDY-OD count (in lakhs) |
0.81 |
0.75 |
|
PMJDY-OD Amount (in lakhs) |
876.31 |
1154.40 |
|
Zero balance PMJDY A/cs (in lakhs) |
4.34 |
5.53 |
| Social Security Schemes |
Cumulative Enrolment under PMJJBY (in lakhs) |
35.98 |
48.37 |
|
Cumulative Enrolment under PMSBY (in lakhs) |
70.94 |
88.57 |
|
Cumulative Enrolment under APY (in lakhs) |
9.86 |
12.42 |
| BSBD Accounts |
Total BSBD Accounts (in lakhs) |
94.12 |
99.19 |
|
O/S Balance in BSBD A/c (in Cr) |
5358.33 |
6735.25 |
|
Average balance per account (actual) |
5693.00 |
6790.00 |
|
Commission paid towards BC Services (in Crore) |
29.92 |
38.02 |
5
Asset Quality and NPA Management
Bank's unwavering focus on asset quality has yielded impressive
results. Bank has achieved significant reductions in both Gross NPA (Non-Performing
Assets) and Net NPA ratios: a) Gross NPA Reduction: Declined from 1.74% as of March
31, 2025, to 1.45% as of March 31, 2026. b) Net NPA Reduction: Declined from 0.18%
as of March 31, 2025, to 0.13% as of March 31, 2026. c) Provision Coverage Ratio (PCR):
Achieved a strong 98.59% PCR as of March 31, 2026.
A. Rebuilding Trust, Recovering Value: The Bank's NPA Recovery
Strategy
Bank has implemented a comprehensive strategy to manage and recover
non-performing assets:
I. Dedicated Recovery Teams: Bank has established Asset Recovery
Cells (ARC) at all zonal offices and 13 dedicated Asset Recovery Branches (ARB) to focus
on large NPA accounts, particularly those involved in legal proceedings.
II. Stressed Asset Management: A separate department at the Head
Office oversees four Stressed Asset Management (SAM) branches.
These branches prioritize recovery efforts for NPA accounts with
balances exceeding < 5 Cr.
III. AI-Powered Communication: An AI-based Interactive Voice
Assistant solution has been developed for outbound calls to customers with stressed
accounts and for our contact center.
This AI-powered solution communicates with customers in their preferred
language, promoting better communication and understanding.
IV. Active Loan Tracking: A dedicated Loan Tracking Cell conducts
daily telephone follow-ups with borrowers of stressed accounts and overdue payments. This
proactive approach ensures timely recoveries and facilitates NPA upgrades.
V. Wilful Defaulter Identification: Separate cells at the Head
Office identify wilful defaulters which brings pressure on the NPA Borrowers for early
resolution of the account.
VI. Action under SARFAESI / DRT: Robotic Process Automation helps
field offices in ensuring timely actions and follow up of SARFAESI/ DRT cases. As per DFS
guidelines Nodal officer is appointed at each zone for DRTs and DRATs to maintain
liasoning with Presiding Officer and Recovery Officer of DRT to expedite the Recovery
process. Further, nodal officer is entrusted with responsibility to maintain liasoning
with DM/CJM for early execution of Physical Possession order.
VII. BAANKNET: Bank has partnered with BAANKNET to provide seamless
and transparent platform for sale of stressed Assets. Bank is putting properties under
symbolic and physical possession for e-Auction on BAANKNET portal.
VIII.My KASE Application: Bank has introduced MyKase application
for all the Law Officers and Nodal Officers for monitoring and tracking the DRT cases on
daily basis. MyKase application helps to monitor and review the performance of Advocate.
Advocates have also been provided access to My Kase application for real time updation of
case status.
IX. One-Time Settlement Schemes: Bank offers fair and transparent
One-Time Settlement (OTS) schemes like "SARAL" & "NIVARAN" to
facilitate debt resolution for eligible borrowers under various categories.
X. e-OTS: Bank has launched a digital OTS platform (e-OTS) for a
streamlined, efficient and hassle-free settlement process for accounts with limit
sanctioned up to < 10.00 lakhs and outstanding balance (Principal Outstanding) up to
< 10.00 lakhs.
XI. Debt Recovery Efforts: Bank actively engages in debt recovery
through visits, notifications, legal proceedings, Recovery Camps, Lok Adalats
(people's courts), Mahabank Adalats (Bank-specific courts), and timely actions under
SARFAESI/DRT Acts. Bank is also utilizing the services of Recovery Agents and Resolution
Agents to expedite recoveries.
XII. Insolvency and Bankruptcy Code (IBC) Utilization: Bank has
initiated proceedings under the IBC against large NPA borrowers. This includes Corporate
Insolvency Resolution Process (CIRP) against borrowers and Personal Insolvency Resolution
Process (PIRP) against guarantors, ensuring a comprehensive approach to debt recovery.
XIII.Strategic NPA Sales: Bank regularly explores selling
difficult-to-recover NPAs to Asset Reconstruction Companies (ARCs) and the National Asset
Reconstruction Company Limited (NARCL). This strategy cleanses our balance sheet and
allows us to focus on core lending activities.
Position of Non-Performing Assets is as under:
6 Augmenting Bank's Foreign Exchange Business
To meet the rising demand for foreign exchange services, the Bank
operates a robust network of 51 strategically positioned Category B branches across India.
These branches provide a wide range of foreign exchange solutions, ensuring seamless
international transactions for individuals and businesses alike.
Highlights for FY 2025-26:
I. Merchant Business Expansion:
A significant increase in merchant business was recorded, generating
< 52,766 crore during the year. This reflects the Bank's dedication to empowering
businesses engaged in global trade.
II. Profitability:
The foreign exchange division earned a profit of
< 126 crore, contributing to the the Bank's overall financial
performance.
7 Strategic Investing: Securing Financial Stability
The Bank upholds a well-diversified investment portfolio, ensuring
compliance with Statutory Liquidity Ratio (SLR) regulations while strategically expanding
into non-SLR securities.
7.1 Investment Portfolio Breakdown (as of March 31, 2026): I. Gross
Investments: < 1,02,207 Crore a) < 86,647 Crore (SLR Securities):
Investments that comply with the mandatory liquidity requirements set by the Reserve Bank
of India. b) < 15,560 Crore (Non-SLR Securities):
Investments made beyond the SLR requirement, offering greater
flexibility and potential for higher returns. c) Surplus SLR Securities: <
29,770 Crore: This surplus demonstrates the Bank's strong liquidity position.
II. Net Investments: < 1,01,480 Crore (net of provisions) as of
March 31, 2026.
III. Investment Portfolio Composition: a. 56.13% Held-to-Maturity
(HTM): Investments intended to be held until maturity, providing a stable source of
income. b. 43.12% Available-for-Sale (AFS) & Fair Value
Through Profit & Loss: Investments that can be actively bought and
sold to generate additional income and manage portfolio risk.
7.2 Financial Performance: a) Treasury Profit Growth: Trading
profit increased by 70.47% from < 283.31 Crore in FY2024-25 to
< 483.05 Crore in FY2025-26. Net profit is reported to < 202.47
Crore as Bank provided for the provision of < 280.59 Crore as an exceptional item
against the impairment of capital investment by the Bank in its RRB i.e. Maharashtra
Gramin Bank (MGB) post implementation of amalgamation plan under "One State One
RRB" of GoI, wherein Vidarbha Konkan Gramin Bank (VKGB) was amalgamated with MGB. b)
Net Interest Income Growth: Increased by 21.63% from < 5360.43 Crore in FY 2024-25
to
< 6519.84 Crore in FY 2025-26, highlighting the Bank's ability
to generate consistent returns from its investment portfolio.
(Amount in < Crore)
| Particulars |
FY |
FY |
% |
|
2025-26 |
2024-25 |
Change |
| Treasury Profit |
202.47* |
283.31 |
(28.53) |
| Net Interest Income |
6519.84 |
5360.43 |
+21.63 |
* Excluding one-of-item, the profit for the year will be Rs.483.05
Crore
8
Merchant Banking
During the year, Bank handled 38 issuance of Commercial Papers
amounting to < 34,545 crore for its clients as an Issuing and Paying Agent (IPA).
9 Borrowings
The borrowing of the Bank as on March 31, 2026 stood at Rs. 35234 crore
including re-finance as under:
(Amount in < Crore)
| Particular |
Amount as on 31.03.2026 |
Amount as on 31.03.2025 |
| Total Borrowing |
35234.00 |
23853.00 |
| of which Borrowing |
|
|
| RBI under LAF |
0.00 |
0.00 |
| Of which Borrowing |
|
|
| Market REPO |
0.00 |
0.00 |
| Of which Borrowing |
|
|
| TRePS (G-Sec) |
0.00 |
0.00 |
| Of which Refinance from |
|
|
| NABARD |
3525.00 |
3425.00 |
| EXIM BANK |
3400.00 |
0.00 |
| NHB |
0.00 |
0.00 |
| SIDBI |
13001.00 |
11928.00 |
| Mudra |
20.00 |
69.00 |
| Borrowings in the form of |
|
|
| Bonds & debentures |
|
|
| capital instruments |
8431.00 |
8431.00 |
| Borrowings outside India |
5671.13 |
- |
| Others |
0.00 |
0.00 |
10
Depository Services
I. Bank is Depository Participant (DP) of Central Depository
Services of India Ltd. (CDSL) since September 1999.
II. The Bank has been providing Depository services such as account
opening, dematerialization, pledging/ unpledging of securities, rematerialisation etc.
As on 31/03/2026 -
| TOTAL NO OF |
ACTIVE |
DORMANT/ |
| ACCOUNTS |
ACCOUNTS |
INACTIVE |
| 21236 |
17147 |
4089 |
III. The Bank has tied up with Religare broking Limited as its
trading partner and is in process of onboarding Aditya Birla Money Limited for online
3-in-1 account opening journey. The facility of online 3-in-1 account opening will be
integrated in the mobile banking app ‘Zenlyfe' and internet banking application.
IV. Bank has introduced ASBA through net banking and UPI through
which customers can apply for various IPO's and Rights issue along with the facility
to submit applications physically to the branches.
11
Bancassurance
I. Comprehensive Insurance Offerings: The Bank serves as a
corporate agent for an extensive selection of bancassurance products, encompassing Life,
General, and Health Insurance. Through strategic partnerships with 8 insurance companies,
we provide customers with a diverse range of insurance solutions tailored to their unique
needs.
II. Enhancing Digital Experience: Dedicated to delivering a
seamless digital journey, the Bank has collaborated with a prominent Fintech company to
create an intuitive digital insurance platform. This platform enables customers to
effortlessly explore, compare, and purchase insurance products through the Bank's
digital channels.
Performance during FY 2025-26 (Amount in Crore)
| Segment |
NOP |
Premium |
Commission |
| Life Insurance |
29267 |
171.17 |
44.41 |
| General Insurance |
352206 |
62.75 |
8.82 |
| Health Insurance |
34567 |
56.51 |
6.86 |
| Total |
416040 |
290.42 |
60.09 |
12
Government Business
12.1 Convenient Doorstep Banking Services
The Bank offers Doorstep Banking Services through M/s PSB Alliance Pvt.
Ltd., catering to retail customers across 1,000 cities via 1676 branches. These services
encompass both financial and non-financial assistance:
I. Financial Services: Cash withdrawal and fund transfer.
II. Non-Financial Services: a) Delivery Services: Account
statements, TDS certificates/Form 16. b) Pickup Services: Collection of cheques/DD, Form
15G/15H, standing instructions, cheque book requisition slips, GST challans with cheques,
and nomination forms. Additionally, pensioners can submit digital life certificates from
the comfort of their homes.
12.2 Efficient Tax Collection
In FY 2025-26, the Bank collected 6,57,169 challans of Direct Taxes and
6,31,969 challans of Indirect Taxes, earning a total commission of Rs 1.62 crore.
12.3 Comprehensive Pension Services
Serving senior citizens with dedication, the Bank processes and credits
monthly pensions for Central Government, Defense, Railway, and Telecom pensioners through
its Central Pension Processing Cell (CPPC) in Pune. This service generated a Government
Business commission of Rs 7.83 crore for FY 2025-26.
12.4 Promoting Small Savings Schemes
The Bank opened numerous accounts under various small savings schemes
during FY 2025-26:
I. 1,40,847 new PPF accounts.
II. 22,506 new Senior Citizens Savings Scheme (SCSS) accounts.
III. 11,970 new Sukanya Samriddhi Scheme accounts.
The Bank earned a commission of Rs 8.16 crore from these schemes during
the year.
13
Lead Bank Scheme
13.1 Lead Bank Responsibility
Bank holds Lead Bank responsibility in seven districts: Chhatrapati
Sambhaji Nagar, Jalna, Nashik, Palghar, Pune, Satara, and Thane. The Lead District
Managers of these districts work collaboratively with other banks and district authorities
to prepare and implement District Credit Plans (DCPs) annually. These plans ensure
targeted financial support for various sectors within each district.
13.2 State-Level Coordination:
I. State Level Bankers' Committee (SLBC) Convener: As the
convener of the SLBC for Maharashtra, the Bank plays a central role in coordinating
financial initiatives across the state.
II. State Annual Credit Plan: Bank guides, the SLBC prepares the
annual credit plan in consultation with various stakeholders, including Lead District
Managers, Member Banks, NABARD, and the Reserve Bank of India. The Priority Sector Plan
for FY 2025-26, valued at
< 8,06,168 crore, ranks as one of the highest credit plans in the
country, underscoring our commitment to fostering financial growth in Maharashtra.
III. Regular Reviews and Meetings: The SLBC convenes quarterly
meetings to monitor progress on the State Annual Credit Plan, prioritize lending to
critical sectors, and oversee the implementation of government-sponsored schemes.
Additionally, the SLBC facilitates communication and collaboration between Member Banks,
Central & State Government agencies, and central institutions like RBI and NABARD.
IV. Supporting Government Initiatives:
The SLBC works closely with various government departments to ensure
the successful implementation of key programs through member banks. These programs aim to
empower different segments of the population, including: a. Supporting Agriculture and
Allied Sectors:
Initiatives such as KCC Saturation for Animal Husbandry, Dairy &
Fisheries, and PM-Kisan beneficiaries. b. Support for Small Entrepreneurs:
Implementation of PMSVANidhi, Svanidhi se Samruddhi for street vendors,
and PM Vishwakarma schemes for traditional artisans and craftspeople. c. Targeted
Interventions: Coordination with NITI Aayog to implement the Targeted Financial
Inclusion Intervention Programme (TFIIP) in aspirational districts and blocks. d.
Mission Utkarsh Programme: Focus on fostering financial inclusion and development in
Nandurbar district, one of the 10 designated aspirational districts in the country.
13.3 Opening Doors of Formal Banking to Everyone through Financial
Inclusion:
As the SLBC convener, the Bank has been instrumental in driving the
Pradhan Mantri Jan Dhan
Yojana (PMJDY) in Maharashtra. As of March 31, 2026, over 3.79 crore
PMJDY accounts have been opened in the state, providing essential banking services to a
previously unbanked population.
14 Subsidiaries/Joint Ventures and
Sponsored Institutions:
Amalgamation of Maharashtra Gramin Bank and Vidarbha Konkan Gramin Bank
-
As per Government of India (GoI) vide Gazette Notification
CG-DL-E-07042025-262329 dated 7th April 2025 has notified the implementation of
amalgamation of RRBs in 11 States/UTs from 1st May 2025. Maharashtra Gramin
Bank and Vidharbha Konkan Gramin Bank Sponsored by Bank of Maharashtra and Bank of India
respectively in the State of Maharashtra are amalgamated into a single Regional Rural
Bank, which is called as "Maharashtra Gramin Bank" with its head office
at Chhatrapati Sambhajinagar, Sponsored by Bank of Maharashtra.
I. Performance of Regional Rural Bank (New Amalgamated entity -
Maharashtra Gramin Bank) is summarized below: I. Performance Highlights
Maharashtra Gramin Bank (MGB), a regional rural bank Sponsored by the
Bank of Maharashtra, plays a pivotal role in bringing financial services to rural
communities across the state of Maharashtra. Here's a look at their performance for
FY 2025-26:
| Sr. No. Performance Parameter |
Actual as on 01/05/2025 |
DVP/MoU Target 31/03/2026 |
Actual as on 31/03/2026 |
% Achieved |
Y-o-Y Growth (%) |
| 1 Total Business |
41955.17 |
47500.00 |
46057.19 |
96.96 |
9.78 |
| 2 Total Deposits |
25944.84 |
30000.00 |
28591.21 |
95.30 |
10.20 |
| 3 CASA deposits |
14059.46 |
15600.00 |
16524.70 |
105.93 |
17.53 |
| 4 % of CASA Deposits |
54.19 |
52.00 |
57.79 |
- |
- |
| 5 Total Advances |
16010.33 |
17500.00 |
17465.98 |
99.81 |
9.09 |
| 6 Priority Advances |
13768.88 |
16000.00 |
14095.49 |
88.10 |
2.37 |
| 7 Gross NPA (%) |
7.31 |
9.36 |
10.86 |
- |
- |
| 8 Net NPA (%) |
3.13 |
5.34 |
6.53 |
- |
- |
| 9 Operating Profit |
290.32 |
- |
171.89 |
- |
- |
The Bank has demonstrated stable growth post-amalgamation with strong
CASA performance and near-target achievement in advances and total business. However,
focus is required on improving non-interest income streams and strengthening recovery in
written-off accounts. Continued emphasis on digital transformation and financial inclusion
is expected to further enhance operational efficiency and outreach.
II. Branch Network Expansion:
1. As of March 31, 2026, MGB has a network of 759 branches with 13
Regional Offices covering 34 out of 36 districts in Maharashtra.
2. All branches and controlling offices are now under Core Banking
Solution (CBS) for enhanced efficiency.
III. Financial Performance:
1. Total Deposits increased from < 25944.84 crore (1st
May-25) to < 28591.21 crore (31st March-26), achieving 95.30% of the target,
reflecting a YTD growth of 10.20%.
2. Advances increased to <17465.98 crore, achieving 99.81% of the
target and showing positive YTD growth of 9.10%.
3. Advances growth is after adjusting IBPC of Rs. 950 Cr. Actual
advance growth is 15.02%.
4. Overall Total Business stood at < 46057.19 crore, with 96.96%
target achievement and a YTD growth of 9.09%.
5. CASA deposits increased to < 16,524.70 crore, with a YTD growth
of 17.53%.
6. CASA constitutes 57.79% of total deposits, remaining above the
target CASA ratio (achievement 111.15%).
IV. Supporting Government Initiatives:
1. MGB actively promotes government schemes like Pradhan Mantri Jan
Dhan Yojana (PMJDY). During FY 2025-26, they opened 1,61,821 PMJDY accounts,
bringing the total to 40,61,921 accounts as of March 31, 2026.
2. The bank plays a key role in social security schemes, covering 11.60
lakh customers under PMJJBY (life insurance), 38.26 lakh under PMSBY (accident
insurance), and 7.23 lakh under APY (pension scheme).
3. MGB actively supports the PMMY (Micro Units Mudra Yojana) scheme,
empowering micro-entrepreneurs. Also other government sponsored credit schemes such as
PMEGP, CMEGP, PMFME, PM Vishwakarma etc.
V. Technological Advancements:
In line with Government directives, the Bank of Maharashtra, as the
sponsor bank, has assisted MGB in upgrading their technology infrastructure. Initiatives
taken by Maharashtra Gramin Bank during FY 2025-26 are as below –
1. Successfully completed CBS migration from Fincale to Bancs 24
Platform for eVKGB Branches as per NABARD SOP within timeline given by the DFS.
2. The bank has successfully integrated and launched the Jan Suraksha
Portal. This portal facilitates the digitization of the Pradhan Mantri Jeevan Jyoti Bima
Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY), covering the entire
process from enrolment to claim processing and settlement.
3. Bank has launched Loan Origination System (LOTUS) for digitized
processing of loan application. It auto generate the sanction letter and appraisal note.
LOTUS is now available for Car Loan, GST MSME Scheme. Housing Loan & Personal Loan.
4. Bank has launched the dedicated tool for SMA and NPA Monitoring
named SMAART (Special Mention Accounts and NPA Recovery Tool), which is one stop solution
for monitoring of SMA and NPA Accounts. Bank has also launched the mobile version of
SMAART portal.
5. Bank has successfully implemented Bharat E-commerce Payment
Gateway for seamless digital transactions.
6. Bank has introduced Video KYC facility for saving account opening
and become the 1st RRB in India to avail this facility to customers.
7. Bank has introduced UPI based scanned sound box service for account
holders. The sound box service allows customers to receive real-time transaction updates
and notifications regarding their accounts through audio messages, making banking more
accessible and user-friendly.
8. Bank has introduced the services of UPI LITE with the help of NPCI
which has increased the services of small token transaction.
9. The Bank has provided UPI, Internet Banking & Mobile Banking
facilities to all customers as per the RBI guidelines, ensuring secure and convenient
digital banking services.
10. Bank is one of the firsts RRB to implement generation of UPI IDs
based on Aadhaar instead of ATM cards 11. Bank has centralized the system generated
process of unclaimed deposits for more than 10 year at Head office level and bank has also
developed in-house DEAF portal for monitoring and processing of DEAF claims through
system. 12. As per Reserve Bank of India guidelines, credit balance entries pending for
more than 5 years have been reviewed, and as amount of Rs 7.08 crore has been transferred
to a Blocked Credit Account. Necessary records are maintained, and claims will be settled
as per applicable norms.
VI. Door-Step Banking:
1. MGB leverages a network of 2174 Business
Correspondents (BCs) to provide convenient doorstep banking services to
customers in rural areas.
II. Performance of METCO during FY 2025-26 A. Safeguarding Your Legacy:
The Maharashtra Executor & Trustee Company (METCO)
The Bank of Maharashtra's wholly owned subsidiary, METCO, has been
a trusted partner for over 80 years. Established in 1946, METCO provides a comprehensive
suite of services to manage /distribute your assets and ensure your wishes are carried
out.
B. METCO's Core Services:
1. Will Management: METCO offers expert guidance on
drafting, safekeeping, and executing your will. They act as your executor, ensuring your
assets are distributed according to your wishes, including property sale or transfer to
the intended beneficiaries.
2. Trust Administration: METCO helps you draft the trust
deed, establish the trusts and manage both private and public trusts. They act as the
managing trustee, handling all aspects of trust administration, including managing movable
and immovable assets, ensuring compliance with regulatory bodies, and fulfilling
charitable objectives.
3. Power of Attorney: METCO can be appointed as the Power of
Attorney holder to manage your investments and immovable properties. This includes tasks
like property rentals, sale, and transfers.
4. Guardianship: In court-appointed guardianship cases,
METCO acts as the legal guardian, managing a minor's property.
C. METCO's Reach and Impact:
1. Headquartered in Pune with four branches in Pune, Mumbai, Thane and
Nagpur, METCO serves clients across Maharashtra.
2. As of FY 2025-26, METCO manages over 887 public and private trusts
through its four units.
3. During the current FY 2025-26, they have added 69 new wills,
bringing the total to 543 live wills under their custody for execution.
4. METCO currently manages movable and immovable properties for 30
active POA accounts through Power of Attorney agreements.
5. The company, as Managing Trustee of its 887 trusts, catalysts its
social responsibility by providing help to poor & needy people by extending financial
assistance for the purpose of education, medical, cultural, religious, spiritual, art and
culture, etc.
6. During FY 2025-26, the Company has also donated through its trusts,
Rs. 256 lakhs to 1259 needy beneficiaries.
D. Financial performance:
METCO maintains sound financial practices. For FY 2025-26, the company
has recorded a Net profit of Rs. 1.32 Cr., having crossed Rs. 1 Cr. Net Profit
consecutively for second year.
15 Resources:Workforce, Technology, Banking
Outlets,
Customer Service & Beyond
15.1 Expanding Access: Banking Outlets, ATMs and Passbook Kiosks
Our Bank is steadily expanding its national footprint, serving
customers across 28 states and 8 union territories. As of March 31, 2026, our network has
grown to 3,061 banking outlets, a notable rise from 2,761 outlets as of March 31, 2025.
Additionally, the significant milestone for the Bank is to establish its first overseas
branch at Internation Financial Service Center in GIFT City, Gandhinagar, Gujarat. This
growth underscores our dedication to delivering convenient and accessible banking services
nationwide.
A. Diverse Network for Every Need:
Our robust network is designed to meet a variety of customer
requirements:
i. Branches (2782 nos.): Comprehensive banking services tailored to
everyday needs. ii. Digital Banking Units (3 nos.): Cutting-edge technology
delivering a seamless digital banking experience. iii. Customer Service Points (276
nos.): Operated by Bank Mitras, these points offer essential banking services in
easily accessible locations. iv. GIFT IBU: Catering global business of Indian
companies.
B. Strategic Expansion: Bringing Banking Closer to You
During FY 2025-26, our network expansion focused on strategic
initiatives:
i. New Branches: Bank has extended its branch network by opening
183 new branches, facilitating our services to more communities across diverse regions of
the country. This year the bank opened a branch at Kavaratti in Lakshdweep Islands. ii.
Enhanced CSP Network: Added 121 new Customer Service Points (CSPs) to ensure continued
accessibility at unbanked locations.
C. Specialized Branches: Tailored Financial Solutions
Our network includes specialized branches to address specific financial
needs:
| i. Foreign Exchange |
ii. Government Business |
| iii. Treasury and International Banking |
iv. Corporate Finance |
| v. Micro, Small, and Medium Enterprises (MSMEs) |
vi. Hi-tech Agriculture |
| vii. Mid Corporate |
viii. Housing Finance |
| ix. Startup branch |
|
Banking Outlet type wise classification of branches as on 31.03.2026,
vis-?-vis 31.03.2025 is as under:
Banking Outlets Details As of 31.03.2026
| Type of Banking Outlets |
Metro |
Urban |
Semi-Urban |
Rural |
Total |
| Branch |
690 |
624 |
829 |
639 |
2782 |
| Digital Banking Unit |
2 |
1 |
0 |
0 |
3 |
| Customer Service Point |
0 |
0 |
0 |
276 |
276 |
| Grand Total |
692 |
625 |
829 |
915 |
3061 |
Banking Outlets Details As of 31.03.2025
| Type of Banking Outlets |
Metro |
Urban |
Semi-Urban |
Rural |
Total |
| Branch |
643 |
577 |
770 |
613 |
2603 |
| Digital Banking Unit |
2 |
1 |
0 |
0 |
3 |
| Customer Service Point |
0 |
0 |
2 |
153 |
155 |
| Grand Total |
645 |
578 |
772 |
766 |
2761 |
16 BuildingStrategic aDataresilientManagement:
and
future ready ecosystem:
Data management and governance is the nerve system of Banking system.
Realizing this critical aspect and to make the bank resilient and future ready with a data
driven scientific approach, Bank has created Strategic Data Management vertical. Following
are the important aspect undertaken by the department.
A. Data Quality Initiatives
To improve data accuracy, consistency and completeness across
Management Information Systems (MIS), regulatory returns, EASE metrics, Credit Information
Companies (CICs), customer Personally Identifiable Information (PII) and business
reporting requirements, the Bank implemented an enterprise wide Data Quality Portal.
O A total of 174 data gap reports are currently monitored and
displayed to field units for corrective action, including 54 reports triggered under
EASE 8.0 requirements.
O 69 data quality reports were added during FY
2025–26, including 22 new reports introduced in Q4,
reflecting continuous enhancement of data controls.
O A Data Quality Index (DQI) Score is auto derived and published
on a daily basis for all locations, ensuring transparency and accountability.
Data improvement efforts covered the entire lifecycle, including:
O Implementation of controls at the data capture stage, O
Strengthening data mapping and extraction processes, and O Cleaning of legacy
data inconsistencies in CBS.
B. Data Governance Framework
During the year, the Bank further strengthened governance mechanisms
around data management:
O The Board approved Data Governance Policy, DQI Framework,
DQI Scoring methodology, and related Standard Operating Procedures (SOPs)
were circulated and taken up for phased implementation.
O Control validations are being embedded across source systems, in
coordination with user departments, to prevent creation of new data gaps, in line
with EASE 8.0 directions.
O Linking of DQI scores with business metrics was completed to
reinforce ownership and accountability.
Additionally:
O SOPs for Data Catalogue and Data Entitlement Rights
were issued to formalise data usage and access governance.
O Training and awareness programmes on Data Quality and Data Governance
were initiated for field staff, including a quiz based awareness programme conducted
through HRMS.
C. Central Data Repository – "MIS GANGA"
The Bank's Central Data Repository, MIS GANGA, was further
enhanced during the year:
O Interfaces were established with 24 source systems, with daily
data refresh.
O The platform currently supports 21 downstream projects,
enabling consistent, controlled and automated data supply for business, regulatory and
analytical needs.
D. Automation of Regulatory and MIS Reporting
As part of its workplace automation and compliance strategy:
O The Bank automated 13 additional RBI regulatory returns during FY
2025–26, taking the total number of automated regulatory returns to 58.
O 22 additional MIS reports were automated during the year,
bringing the total number of automated MIS reports to 158.
O Overall, 216 automated reports are currently in production,
serving both internal management and regulatory requirements, improving efficiency,
accuracy and timeliness.
E. Credit Information Company (CIC) – Data Quality Improvements
The Bank continued to strengthen the quality and reliability of data
shared with Credit Information Companies:
O As on 31.03.2026, o CIC Consumer data acceptance stood at
98.58%, with a DQI of 98.53%. o Commercial data acceptance improved to
96.27% from 95.88% as on 31.03.2025, while
DQI improved significantly to 90.02% from 78.29%.
Quality enhancements included enrichment of data fields such as:
O Officially Valid Documents (OVD) including Aadhaar, O PAN, cheque
dishonour data, related party and collateral details, O Wilful defaulter, CKYC and legal
constitution data, O ROI, guarantor, occupation, joint borrower, company identification,
co lending details, credit product classification, O MFI (SHG), non funded facilities and
UHFC enhancements.
Further improvements are in progress through controls at data
capture, mapping, extraction levels, along with legacy data cleansing, to
achieve higher acceptance and DQI levels.
F. CIC Policy and Process Enhancements
During the year, the Bank revised its CIC Policy and SOPs in
line with latest RBI circulars to strengthen:
O CIC data submission processes, O Complaint handling mechanisms, and
O Overall improvement in CIC data quality and compliance.
G. CIC Based Products, Early Warning and Fraud Prevention
The Bank leveraged CIC data for risk management, business insights and
customer protection:
O Implemented automated Risk Alerts as an Early Warning System
(EWS) to identify customers turning delinquent in other banks, classifying accounts into
defined risk quadrants.
O Introduced Market and Business Insight reports from CIC data
to support branch expansion decisions, target setting and peer comparison at pin code
level.
O Enabled Enquiry Alert (BiZ Triggers), wherein borrowers
receive automated SMS and email communication with relevant Bank loan offerings when loan
enquiries are observed in other banks.
O Implemented Borrower Tracker (Skip Tracing) functionality to
aid recovery and collections using incremental contact information available through CICs.
O Deployed "HUNTER", a fraud prevention platform,
within digital lending journeys for Gold Loan, e GST, Mudra and PAPL products.
H. Customer Awareness and Outreach
To promote financial discipline and transparency:
O Automated SMS and Email alerts were sent to customers when
overdues are reported to CICs. O Awareness campaigns were undertaken through the
Bank's Corporate Website and social media platforms, emphasising the importance of
updating mobile numbers and email IDs.
I. CIC Complaint Redressal
The Bank maintained a strong grievance redressal mechanism for CIC
related complaints:
O During FY 2025–26, 7,656 CIC related customer complaints
were resolved within RBI stipulated TAT of 30 days. o 55.85% resolved within 1 day, o
31.38% within 2–6 days, o 10.74% within 7–14 days, o 1.90% within 15–21
days, o 0.13% within 22–30 days.
O No compensation was paid in any case, reflecting timely and
effective grievance handling. O 48 complaints were under process as on 31.03.2026,
all of which were resolved subsequently within prescribed timelines.
J. PSB Hackathon, Awards & Accolades
O Successfully organized the FinSpark 2025 Hackathon under the
PSB Hackathon series, with winning teams presenting solutions at the Global Fintech
Festival (GFF-2025).
O Achieved a hat trick in IBA Awards by winning Maximum numbers
of Award for Best Mid Size Bank in multiple categories for three consecutive years
across PSBs, private banks, and NBFCs. O Conferred IBEX Awards in multiple
categories for excellence in banking performance, IT initiatives, and customer centric
services.
Conclusion
The initiatives undertaken during FY 2025–26 reflect the
Bank's sustained and holistic approach towards technology led transformation, with a
clear focus on customer convenience, operational resilience, data integrity, cyber
security and regulatory compliance. During the year, the Bank not only strengthened its
core banking and technology infrastructure but also placed significant emphasis on
enterprise data quality, data governance, automation of regulatory reporting and
responsible use of external data ecosystems.
Focused interventions in data quality management, centralised data
repositories, MIS automation and Credit Information Company (CIC) integration have
enhanced the accuracy, transparency and reliability of data used for regulatory reporting,
risk management and business decision making. Improvements in CIC data quality, grievance
redressal and customer awareness further underline the Bank's commitment to fairness,
customer protection and supervisory expectations.
Through sustained investments in scalable technology platforms, network
modernisation, cyber security, automation, skilled manpower and robust governance
frameworks, the IT Department has laid a strong and future ready foundation. These efforts
position the Bank to support business growth, withstand emerging technology and cyber
risks, and continue delivering secure, compliant and customer centric banking services in
the years ahead.
17 Business Development:
The Bank continued to strengthen its position as a trusted partner to
Government and institutional clients during FY 2025–26 by delivering integrated
banking solutions across infrastructure, public finance, and urban development ecosystems.
Our business development initiatives remained focused on expanding the customer base,
enhancing service capabilities, and driving sustainable revenue growth. In line with
evolving market dynamics, the Bank progressed in its strategic shift from traditional
deposit mobilization to project-linked and transaction-oriented banking services.
The Bank further deepened its engagement with key Government entities
and infrastructure bodies, while strengthening integration with digital Government
platforms such as Bharatkosh (NTRP). These efforts are rooted in our commitment to
innovation, customer-centricity, and adherence to environmental, social, and governance
(ESG) principles, enabling us to deliver enhanced value to stakeholders and contribute to
a sustainable and inclusive growth trajectory.
O Strategic Partnerships: Collaboration remains the key to the
Bank's growth strategy, with a strong emphasis on Government Business. During the
year, the Bank forged and strengthened strategic partnerships with key Ministries,
Government Departments and Bureaucratic & Judiciary ecosystem. These engagements have
enabled deeper penetration into high-value customer segments, expanded our service
footprint, and facilitated delivery of tailored banking solutions. The partnerships have
yielded mutually beneficial outcomes, reinforcing the Bank's competitive positioning
and establishing it as a preferred banking partner within the Government and institutional
landscape.
Government Partnership and rendering value added services: O
Infrastructure & Mega Project Ecosystem
Bank deepened its CASA position by engaging in new large-scale
infrastructure and nation-building projects, including:
Q National Highways Authority of India (NHAI)
National Highways Authority of India is responsible for development and
maintenance of national highways across the country.
Q Eastern Rajasthan Canal Project
The Eastern Rajasthan Canal Project aims to address water scarcity in
eastern Rajasthan through inter-basin water transfer. It supports drinking water supply
and irrigation for sustainable regional development. The project has received a
significant push with its inauguration by Hon'ble Prime Minister, underscoring its
national importance.
O Government Schemes & Escrow Management
Bank played a pivotal role in managing funds under major Government
schemes such as:
Q Pradhan Mantri Fasal Bima Yojana (PMFBY)
Scheme provides comprehensive crop insurance coverage against natural
calamities, pests and diseases. It aims to stabilize farmers' income and promote
sustainable agricultural practices.
Q Weather-Based Crop Insurance Scheme
The Weather Based Crop Insurance Scheme offers insurance protection
based on adverse weather parameters such as rainfall and temperature.
It enables faster claim settlement through weather data, reducing yield
assessment complexities.
Q Chief Minister Women Empowerment Programme
The Chief Minister Empowerment Programme focuses on enhancing
livelihood opportunities and financial inclusion through targeted welfare initiatives.
It aims to empower beneficiaries by promoting self-employment and
socio-economic development in the region.
O Mission-Driven & National Priority Projects
Active engagement with below mentioned national priority programs
reflects the Bank's commitment to sustainability-driven and mission-oriented
initiatives.
Q National Mission for Clean Ganga (NMCG)
National Mission for Clean Ganga is the flagship programme for
rejuvenation, protection and management of the river Ganga. It focuses on pollution
abatement, river surface cleaning and sustainable ecosystem restoration.
Q Rajasthan Protected Area Conservation Society
The Rajasthan Protected Area Conservation Society works towards
conservation and management of protected forest and wildlife areas in the state. It
supports biodiversity preservation, eco-restoration and sustainable management of natural
resources.
O Urban Local Bodies & Development Authorities
Banking relationships were established and strengthened with key
development authorities and urban bodies, including:
Q Agra Development Authority
The Agra Development Authority is responsible for planned urban
development and infrastructure creation in Agra. It focuses on land use planning, housing
development and provision of civic amenities.
Q Urban Improvement Trust (Balotara)
The Urban Improvement Trust undertakes development of urban
infrastructure and housing across designated cities. It aims at planned urban expansion,
land development and improvement of civic facilities.
Q Polavaram Development Authority
The Polavaram Development Authority oversees the execution of the
Polavaram multi-purpose irrigation project. It focuses on irrigation, hydropower
generation and flood control.
O Integration with Government Platforms
Q Integration with Bharatkosh (NTRP Portal) enabled seamless non-tax
revenue collections
Strengthened digital transaction flows and improved float management
Institutional Ecosystem Development
O Strategic empanelment with premier institutions such as NHAI, CSIR,
Power Finance Corporation, and Oil Industry Development Board
O Enabled branches across zones to service these institutions,
improving reach and deepening relationships
O Expansion of presence in Central Government ecosystem through the
upcoming Netaji Nagar Branch, designed as a multi-ministry banking hub.
These initiatives have strengthened the Bank's institutional
footprint and facilitated scalable business growth.
Central Government Salary Scheme – "CG 2025" Initiative
During FY 2025–26, in due consultation with the Department of
Financial Services, Bank conceptualized and implemented the "CG 2025" initiative
to deepen engagement with Central Government employees and strengthen the Bank's
presence across Ministries and Departments.
Performance & Outcomes under tailored schemes
| Scheme |
Details |
New |
Conversion |
| CG-2025 |
No. of Accounts |
1497 |
1132 |
|
Balance (< Cr) |
3.18 |
17.89 |
| GovPride |
No. of Accounts |
3622 |
5640 |
|
Balance (< Cr) |
13.61 |
91.82 |
| Scheme |
Details |
Housing Loans |
Vehicle Loans |
Personal Loans |
| Elite |
No. of |
293 |
34 |
63 |
| Plus |
Accounts |
|
|
|
|
Outstanding |
287.81 |
5.82 |
8.22 |
|
(< Cr) |
|
|
|
| Judicial |
No. of |
339 |
520 |
121 |
| Officers |
Accounts |
|
|
|
|
Outstanding |
174.89 |
62.37 |
14.07 |
|
(< Cr) |
|
|
|
18
Human Resources Management
The Human Resources Management (HRM) department at Bank of Maharashtra
plays a pivotal role in fostering a competent and passionate workforce to achieve business
excellence. Aligned with the Bank's HR mission of "Creating Competence and
Passion for Business Excellence," the HRM department is responsible for key functions
as below:
O Talent Acquisition and Recruitment O Employee Development and
Training
O Performance Management
O Policy Formulation and Compliance O Employee Relations and Welfare
MANPOWER STRENGTH:
The total Manpower of the Bank as on 31st March 2026 stood
at 15596. The following are the details of category of employees.
| Cadre |
Officers |
Clerk |
Sub-staff |
Total |
| Count |
10279 |
3777 |
1540 |
15596 |
The Bank undertakes a comprehensive annual review of staffing needs
across various cadres, meticulously analyzing vacancies in light of the business growth,
future branch expansion and rationalization plans, and anticipated attrition due to
resignations, superannuation, and voluntary retirements, ensuring a well-aligned and
forward-looking human resource strategy.
GENDER DIVERSITY:
Gender sensitivity and inclusiveness along with gender friendly spaces
has always been the cornerstone of Bank's HR policy. Out of the total workforce, the
representation of women is 29.23% spread across all geographies and levels
of hierarchy.
The Average Age of employees in our Bank is 37 years.
| Category |
Male |
% |
Female |
% |
Total |
| Officers |
7278 |
70.80 |
3001 |
29.20 |
10279 |
| Clerks |
2396 |
63.44 |
1381 |
36.56 |
3777 |
| Sub-staff |
1364 |
88.57 |
176 |
11.43 |
1540 |
| Total |
11038 |
70.77 |
4558 |
29.23 |
15596 |
RESERVATION CELL:
In line with the directives of the Government of India, the Bank
ensures reservation in direct recruitment for candidates belonging to Scheduled Castes
(SCs), Scheduled Tribes (STs), Other Backward Classes (OBCs), Economically Weaker Sections
(EWS) and Persons with Benchmark Disabilities (PwBDs), while promotional reservations for
SC/ST employees are extended in accordance with the prescribed guidelines. To uphold the
principles of equity and inclusion, Special Cells are operational at the Head Office and
all Zonal Offices to oversee the effective implementation of reservation policies and to
address the grievances of SC/ST/OBC employees, persons with benchmark disabilities
(PwBDs), and Ex-Servicemen. Additionally, the Bank has appointed Chief Liaison Officers at
the Head Office and established dedicated SC/ST/OBC/PwBD Cells in every Zonal Office to
reinforce its commitment to social justice and inclusive growth.
| CASTE/ CADRE |
GEN |
OBC |
SC |
ST |
EWS |
*PwBD |
ESM |
TOTAL |
| OFFICERS |
4665 |
3014 |
1562 |
705 |
333 |
269 |
52 |
10279 |
| CLERKS |
1711 |
991 |
624 |
349 |
102 |
118 |
204 |
3777 |
| SUB-STAFF |
492 |
396 |
482 |
170 |
- |
20 |
91 |
1540 |
| TOTAL |
6868 |
4401 |
2668 |
1224 |
435 |
407 |
347 |
15596 |
* PwBD:
In alignment with the Government of India's guidelines, continuous
efforts have been made by the Bank to address and resolve grievances of employees
belonging to reserved categories, fostering cordial relations, and assisting in their
career progression.
The Bank has also organized various training programs for SC/ST
employees and Welfare Associations, covering important areas such as the reservation
policy, pre-promotion training, and related topics aimed at empowering and preparing them
for future responsibilities.
HR ADMINISTRATION & POLICIES:
Managing human capital remains one of the most vital and dynamic
functions in steering the organization towards sustained success. The efficiency and
effectiveness of the Bank's operations are deeply interconnected with the performance
and engagement of its employees. Recognizing this, the Bank has implemented a range of HR
initiatives aimed at strengthening its administrative foundation.
Key developments during the year include:
O Active promotion of dialogue with key stakeholders, including team
leaders, union representatives, and other field functionaries to foster collaborative
development.
O Framing policies that emphasize discipline, commitment, and devotion
to duty, thereby enhancing employee productivity and organizational efficiency.
O Recruitment process
LEARNING AND DEVELOPMENT:
At Bank of Maharashtra, Learning & Development is anchored on the
philosophy of "continuous learning for continuous growth", ensuring that
employees are not only equipped with technical competencies but are also empowered with
the right mindset, customer orientation, and leadership capabilities. Bank's approach
during FY 2025–26 has been to move from training delivery to capability building,
focusing on:
Q Future-ready skill development Q Employee well-being and engagement Q
Leadership pipeline strengthening Q Digital and self-paced learning ecosystems
STRATEGIC FOCUS AREAS IN FY 2025–26:
During FY 2025–26, the Bank strengthened its learning ecosystem
with a clear focus on capability building, employee engagement, and holistic development,
ensuring alignment with business priorities and emerging industry requirements.
The Bank's training infrastructure, including Staff Training
Colleges (STCs), ITTI, and other centers, continued to play a crucial role in effective
training delivery. A balanced approach of classroom sessions, virtual learning, and
experiential workshops ensured wider reach and improved learning outcomes.
A. Functional & Technical Training
Q Credit appraisal, risk management, treasury operations.
Q Regulatory compliance, ITIL Training & Certification and audit
readiness.
Q Digital banking, Gen AI & ML Boot Camp and fintech awareness.
B. Behavioral & Soft Skills Training
Q Customer service excellence.
Q Communication and interpersonal effectiveness. Q Session on
mindfulness towards leadership and managerial effectiveness.
C. Induction & Role-Based Training
Q Structured onboarding programs for new recruits. Q Role-specific
training for BDOs, branch heads, and operational staff.
D. Leadership Development Initiatives
Q Leadership Development Plan (LDP) for senior and mid-level
executives.
Q Assessment center-based development interventions.
Q Coaching and mentoring sessions through external experts.
E. Specialized & Thematic Programs
Q Special Training Program for Differently abled Employees (PwD) Q
Training cum exposure visit of foreign delegates on Agri and MSME sector.
Q Women empowerment and inclusivity initiatives
KEY INITIATIVES & INNOVATIONS:
FY 2025–26 witnessed several curated and impactful initiatives:
) Art Ledger – Championing a culture of innovation and
holistic engagement, the Bank has established a unique platform that unlocks
employees' creative potential, driving fresh perspectives and inclusive
participation. The initiative has earned national recognition with the Gold Award in the
BFSI category at the SKOCH Group Awards, underscoring the Bank's leadership in
progressive HR practices.
) HR Genie – Redefining HR service delivery, the Bank has
institutionalized an AI-powered virtual assistant enabling instant, consistent, and
intelligent employee support, significantly enhancing accessibility, decision efficiency,
and digital adoption across the organization.
) ECHO – Embedding well-being as a strategic priority, the
Bank has rolled out a comprehensive Employee Assistance Program, fostering emotional
resilience, psychological safety, and a culture of care, thereby strengthening workforce
sustainability and productivity.
) Karmayogi Integration - Embedding national learning
initiatives into the Bank's training ecosystem with "Seva Bhav" as the key
impact. Our bank has proudly imparted Karmayogi training to 9333 employees out of 15522 as
of Feb 2026 which is approximately 60% of the total employee count.
) Blended Learning Model - At your Bank's STCs with the
Combination of classroom, virtual, and self-paced modules for maximum reach and
effectiveness we optimized utilization of all centers with improved coordination and
delivery.
) Bank has also Launched a Podcast Series on the Learning Management
System (LMS), focusing on regional language understanding and sign language awareness.
This initiative marks an important step towards building a more inclusive, empathetic, and
customer-centric workplace.
These concerted efforts have resulted in enhanced employee
participation, improved competency levels, and stronger alignment with organizational
objectives. The increased adoption of digital learning platforms and higher engagement
levels reflect a positive shift towards a culture of continuous and self-driven learning.
| KEY PARAMETERS |
March 25 |
March 26 |
|
(Actual) |
(Actual) |
| Unique Learning Interventions |
11,169 |
14551 |
| Total Number of |
|
|
| Employees Trained |
18754 |
18432 |
| Overseas/ Foreign |
|
|
| Training Programs |
5 |
9 |
| Classroom Training |
|
|
| Program (Internal) |
374 |
214 |
| Classroom Training |
|
|
| Program (External) |
118 |
101 |
| Virtual Training Program |
|
|
| (Internal) |
42 |
18 |
| Virtual Training Program |
|
|
| (External) |
8 |
01 |
| Use of ICT- Webinars |
22 |
24 |
| Use of ICT- Podcast |
16 |
2 |
| Cross Bank Training |
7 |
1 |
| Quiz on LMS and Skill |
|
|
| Gap Analysis |
36+ |
42 |
As part of our sustained commitment to building a future-ready
leadership pipeline, the Bank continues to institutionalize a suite of high-impact
developmental interventions. Key initiatives such as Overseas Training and Study Tours,
Director Development Programmes, structured Coaching engagements, Individual Development
Plans (IDP), Leadership Development Programmes, and comprehensive High Performance and
High Potential assessments remain integral to our talent strategy.
These are further strengthened through robust succession planning
frameworks and a well-structured Mentorship Allotment Programme, currently encompassing
5,494 mentors and 15,389 mentees across the organization. In addition, large-scale
capacity building is consistently driven through bulk training programmes in collaboration
with empanelled institutions. Going forward, these initiatives will not only continue as a
core and constant approach but will also evolve with a sharper, future-focused
orientation, leveraging data-driven insights, emerging competencies, and global best
practices to ensure sustained organizational excellence.
Looking ahead, the Bank aims to further strengthen its L&D
framework by leveraging data-driven insights, personalized learning pathways, and emerging
technologies. Focus areas will include upskilling in digital banking, cybersecurity,
customer experience, and innovation, ensuring that employees remain equipped to navigate
the evolving banking landscape.
The journey of Learning & Development at Bank of Maharashtra
continues to evolve driven by the belief that investing in people is the most powerful way
to shape the future of the organization.
RECRUITMENT:
Bank has identified vacancy of 1850 officers in various scales &
500 Clerks, as per Manpower planning based on certain parameters like attritions, Business
position, minimum staffing pattern etc. Out of which, 1275 officers (Scale I - 951, Scale
II – 207, Scale III – 71, Scale IV – 24, Scale V – 15, Scale VI –
5 & Scale VII - 2) & 393 Clerks have joined.
Also, the Bank has transitioned to a fully in-house, online recruitment
process, marking a significant shift from the earlier practice of relying on the Institute
of Banking Personnel Selection (IBPS) for application management. With the development of
your Bank's own recruitment portal, the Bank now independently handles the entire
application process, ensuring greater efficiency, transparency, and control over talent
acquisition.
Bank has reviewed the scheme of Compassionate Appointment scheme in
line with Govt. of India / IBA guidelines, which is aimed at providing financial relief to
the indigent family of deceased employees. Bank has offered compassionate appointments to
22 & 24 candidates in clerical cadre & Sub-staff cadre respectively.
CAREER PROGRESSION (PROMOTION 2025-26):
Promotion is one the key motivating factors for the employees as it
brings higher responsibilities, monetary benefits and status. This promotion process is
carried out every year based upon Board approved Promotion policy which is formulated in
line with GOI & other regulatory guidelines and ensuring availability of adequate
employees at each level keeping in view the business growth of the Bank along with
availability of sufficient number of employees for shouldering responsibilities at higher
levels. Concerted efforts have been taken by the Bank for fostering career progression of
employees for rewarding them for their performance and motivation.
IMPROVISATION OF STAFF BENEFITS AND WELFARE ACTIVITIES:
Bank has acknowledged the efforts taken by employees for the banks
outstanding performance. In order to recognize the efforts of employees & to motivate
them the following initiatives are taken by the Bank.
Payment of Performance Linked Incentive (PLI) as per 8th Joint note
& XI-Bipartite Settlement: Based upon Banks financial results for the year
2024-25, Bank has paid 15 days Performance Linked Incentive to all the employees up to
Scale III.
Payment of Rs. 3,000 /- to all employees in view of Banks outstanding
performance in FY 2024-25: Taking into consideration of Bank's transformative
performance in FY2 024-25 & to celebrate the occasion, bank has paid Rs. 3,000 /- to
all employees & retirees towards purchase of gifts, sweets, dry fruits etc. as a token
of appreciation for their service to the Bank.
Reimbursement towards expenses for Maintenance of Good Health: With
a motive to promote well-being amongst the staff members and as a token of appreciation,
the Bank had announced a reimbursement of Rs. 5,500/- per employee, as a special one-time
gesture towards Maintenance of Good Health (Joining Yoga / Meditation / Health Club etc.)
Reimbursement towards Health Checkup of Retirees:
The Bank had also made a reimbursement of Rs. 2000 towards
Health Check-up of Retirees as a one-time measure.
Disclosures under Sexual Harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act, 2013
The position of complaints in respect of Sexual Harassment of Women at
Workplace (Prevention, Prohibition and Redressal) Act, 2013 received and resolved during
the year is as under:
| Complaints received |
Disposed off |
Pending |
| in FY 2025-26 |
in FY 2025-26 |
as on 31.03.2026 |
| 2 |
1 |
1 |
19
EASE Initiatives
I. Enhanced Access and Service Excellence (EASE) is a flagship
reform initiative launched in January 2018 by the Department of Financial Services (DFS),
Ministry of Finance, Government of India. The program aims to enhance the performance of
Public Sector Banks (PSBs) through improved efficiency, transparency, governance, and
customer-centric service delivery.
| JMGS-I |
MMGS-II |
MMGS-III |
SMGS-IV |
SMGS-V |
TEGS-VI |
TEGS-VII |
Clerical |
Sub-Staff / |
| TO |
TO |
TO |
TO |
TO |
TO |
TO |
to |
PTS to |
| MMGS-II |
MMGS-III |
SMGS-IV |
SMGS-V |
TEGS-VI |
TEGS-VII |
TEGS-VIII |
JMGS-I |
Clerical |
| 194 |
199 |
65 |
29 |
10 |
4 |
3 |
102 |
32 |
II. The latest phase, EASE RISE 9.0, was launched on 20 February
2026 by the Secretary, DFS. It reaffirms the Government's commitment to transforming
public sector banking into a more digitally empowered, modern, and customer-first
ecosystem. This phase focuses on developing Globally Competitive PSBs for Viksit Bharat
@2047.
III. Key Objectives of EASE RISE 9.0: Aims to transform
India's Public Sector Banks (PSBs) into globally competitive, technology driven,
resilient, and customer centric institutions, aligned with the national vision of Viksit
Bharat @2047.
IV. EASE 9.0 moves beyond digital adoption toward AIled
transformation, sustainable growth, resilience, and institutional excellence—aligning
public sector banking reforms with the vision of Viksit Bharat. The framework is
structured around 16 Action Points, grouped under four strategic themes:
| 1. Risk & Resilience |
2. Innovation |
| 3. Socio-economic |
4. Excellence |
| Impact |
|
| (Viksit Bharat) |
|
V. Bank's Performance:
The Bank secured 3rd rank in Theme 1 (Risk & Resilience) during Q2
of FY 2025–26 under EASE 8.0.
The Bank has significantly improved its performance under EASE 8.0,
recording a 154% increase from its baseline score of 26.3 to 66.9 out of 100 in Q3 of FY
2025–26.
Detailed Results is as below:
| Position of the Bank in |
As on |
| EASE 8.0 |
31/12/2025 |
| Total marks obtained |
66.90 |
| Position of Bank out of |
9th |
| 12 Banks |
|
20
Technology Initiatives:
Enhancing Customer Ease, Trust, and IT Transformation FY 2025–26
During FY 2025–26, the Bank's Information Technology
Department executed a strategically aligned transformation agenda focused on enhancing
customer convenience, service reliability, operational resilience, and regulatory
confidence. The initiatives undertaken during the year ensured secure, highly available,
and customer friendly banking services, while strengthening the Bank's readiness for
future growth and compliance.
1. Customer Centric Tech-Banking Initiatives
O Strengthened omni channel customer communication through the Karix
Bulk E mail platform, enabling faster and reliable delivery of statements and
communications.
O Migrated key customer facing applications to the Corporate Website,
including a revamped SPGRS Portal and launch of the DEAF Portal, improving transparency,
grievance resolution, and depositor awareness.
O Emerged at the forefront of implementing the Digital Consent
Acquisition (DCA) framework, enabling transparent, auditable, and customer controlled
digital communications.
O Became the first public sector bank to enable API integration
with the Indian Cyber Crime Coordination Centre (I4C) through a home grown solution,
achieving minimal latency and significantly strengthening real time fraud response.
2. Resilient & Scalable Core Infrastructure
O Upgraded Core Banking Solution to IBM Power systems, reducing End of
Day processing time from 3.5 hours to under 2 hours despite increased transaction volumes.
O Strengthened Data Centre, DR, and Near DR infrastructure under the Nakshatra-1
& Nakshatra-2 program, establishing a software defined, cloud ready private
infrastructure with high availability, fault tolerance, and centralized management.
O Enhanced server, storage, and processing capacity to support over 800
CBS transactions per second.
O Maintained a robust and resilient IT infrastructure for the
Bank's flagship mobile banking application, Zenlyfe, ensuring seamless
customer experience.
O Established a 24?7 IT Command & Resiliency Operations Centre
for proactive monitoring of critical systems and faster service restoration.
3. Network Modernization
O Migrated over 2,700 branches and 50 zonal offices to SD WAN,
improving availability, visibility, and issue resolution.
O Augmented network backbone through deployment of high speed links and
migration from VSAT to RF and leased lines, reducing latency and improving throughput.
4. Security, Risk Management & Compliance
O Upgraded perimeter and internal security infrastructure with next
generation firewalls across DC and DR.
O Enhanced Disaster Recovery capabilities through new IBM hardware and
implementation of a DR
Automation Tool.
O Strengthened application security through SAST and DAST testing and
standardized identity controls through an Active Directory Management Tool.
O Continued operation of the TRRACS system leveraging RBI mandated
IDPMS and EDPMS for compliant monitoring of cross border trade transactions, and initiated
implementation of the Foreign Currency Settlement System (FCSS). O Successfully achieved PCI
DSS certification, reinforcing payment security and compliance with global standards.
5. Automation, DevOps & Internal IT Enablement
O Implemented the Master Craft DevOps platform to enable CI/CD
automation and standardized release management.
O Rolled out Microsoft Intune for unified endpoint management,
strengthening endpoint security and compliance across the enterprise.
O Implemented Google Apigee as the enterprise API Gateway to enhance
security, compliance, and governance of API integrations.
6. Capability Building & Governance
O Strengthened IT leadership and execution capacity by inducting
experienced senior officers and specialists across key domains such as APIs, Middleware,
DevSecOps, and Cloud.
O Established two additional Project Management Offices for GIFT IBU
operations and TReDS to enhance governance and delivery apart for regular CBS Project
Management Office O Institutionalized Change Advisory Board(CAB) based governance for all
IT systems like CBS, LLMS, In-House Development etc. change requests, improving risk
alignment and audit traceability.
7. Enterprise Data Management, Governance and Analytics
Recognising data as a critical enterprise asset for regulatory
compliance, risk management, informed decision making and customer protection, the Bank
undertook focused initiatives during FY 2025–26 to strengthen data quality,
governance, automation and Credit Information Company (CIC) integration.
20.1 Harnessing Fintech Partnerships: I. Accelerated Digital
Transformation
The Bank has strategically empanelled 114 FinTechs (Financial
Technology) companies and is working with 16+ FinTechs for development of various
technological initiatives.
20.2 Expansion of digital banking services in FY 2025-26 i. Enhanced
Digital Platforms : During FY 2025-26, the Bank successfully implemented an enhanced
mobile banking application, Zen Lyfe as part of its ongoing digital transformation
initiatives. The upgraded application features a significantly improved user interface and
user experience (UI/UX), offering a modern look and feel designed to enhance customer
engagement and ease of use. Zen Lyfe delivers an enriched and seamless customer journey
through improved navigation, faster response times, increased application stability and
higher availability. In addition to the existing range of banking services, the
application now offers expanded banking and lifestyle services enabling customers to
manage their financial and non-financial needs through a single integrated platform.
Further strengthening the Bank's digital capabilities, a new
product Global Edge Account Management was implemented within the Internet Banking
application. This solution enables customers to efficiently manage their Spend, Reserve
and Growth accounts digitally.
ii. Innovative UPI Solutions : The bank introduced various
enhancements to its UPI offerings during the year. Bank has enabled Central Bank Digital
Currency (CBDC) platform for its retail customers, known as Digital Rupee (e<), issued
by RBI. The e< is the digital form of India's sovereign currency and has the same
legal status and value as physical cash.
Stored in a secure digital wallet, Digital Rupee can be used for P2P
and merchant transactions, enabling seamless digital payments without reliance on
traditional banking intermediaries and serves as an alternate digital payment platform for
customers.
20.3 Cyber Security
During FY 2025–26, the Bank of Maharashtra reaffirmed its strong
commitment to strengthening its cybersecurity posture to safeguard its systems, data, and
stakeholders. This commitment was demonstrated through a range of strategic initiatives
and technological enhancements designed to reinforce the Bank's resilience against an
increasingly complex and evolving cyber threat landscape.
Strengthening Cybersecurity Framework: The Bank has deployed a
comprehensive suite of security solutions comprising more than 25 advanced technologies.
These solutions address multiple facets of cybersecurity, including authentication, threat
detection, and network security, thereby ensuring a robust defense mechanism.
a. Project KAVACH 2.0: A Milestone in Cyber Resilience: Under the
Cyber Resilience initiative, Project KAVACH 2.0 was implemented during 2025–26 to
address evolving cyber threats.
O Endpoint Detection & Response (EDR): EDR protects endpoints
against malwares and ransomwares.
O Anti-DDoS
O SAST and DAST solutions
O Attack Surface Management and Brand Monitoring O Deception Solution
(Honeypot) Building on this foundation, the Bank has now initiated Project KAVACH 3.0,
incorporating advanced technologies to further strengthen its cybersecurity posture and
resilience.
b. Commitment to Global Standards: The Bank is certified under ISO
27001:2022, demonstrating alignment with globally accepted information security standards,
with implementation support from M/s Deloitte. Additionally, the Bank is PCI DSS 4.0
certified, reinforcing the security and integrity of its financial transaction processing
environment.
c. Cyber Awareness Campaigns: Recognizing the importance of
awareness in preventing cyber fraud, the Bank has conducted extensive campaigns targeting
employees and customers:
i. Phishing Simulation and Awareness Exercises: Periodic simulations
and campaigns conducted to train staff and customers in identifying and mitigating
phishing and social engineering attacks. ii. Awareness Circulars and Multilingual
Communication: Regular circulars and multilingual posters (in 15 languages) disseminated
to highlight emerging cyber fraud trends, scam tactics, and preventive measures as part of
the digital awareness campaign. iii. Mass Media and Social Media Outreach: Cybersecurity
awareness promoted through multilingual jingles broadcast on FM channels, along with cyber
tips/Handouts/Flyers and best practices shared via "Sayane Cyber Tips" videos
and official social media platforms. iv. Proactive Alerts and Visual Messaging: Timely SMS
and email alerts issued to customers and staff on cybersecurity best practices,
supplemented by cyber awareness posters displayed across all DMS, ATM screens, and as
desktop/laptop wallpapers. v. Interactive Training and Engagement Programs: Interactive
quizzes hosted on the Bank's website for both customers and staff, along with
specialized training sessions and quizzes to reinforce cyber hygiene and security
awareness. d. Cybersecurity Tabletop Exercises: A tabletop exercise was conducted
by the Data Security Council of India (DSCI) for senior executives and top management,
with a specific focus on ransomware and other advanced cyber attack scenarios. The
exercise emphasized executive-level preparedness, decision making, and coordinated
response strategies to strengthen organizational vigilance against emerging cyber threats.
e. Collaborative Efforts for Threat Intelligence: The Bank
collaborates with external agencies, including CERT-IN, NCIIPC, IDRBT, and DSCI, to stay
informed about the latest vulnerabilities and threats.
This proactive approach ensures robust preventive measures.
To create a secure ecosystem, the Bank organized webinars on
cybersecurity hygiene for vendor employees. These efforts underline the importance of
collective responsibility in maintaining cybersecurity.
f. Enhanced Cyber Resilience: The Bank's categorization into
Category "A" and improved performance in cyber drills reflect its enhanced
resilience. Additionally, higher scores on platforms like BitSight/Secure Score Card
highlight the robustness of its cybersecurity measures.
These initiatives reaffirm the Bank of Maharashtra's dedication to
leveraging technology to protect its stakeholders, achieve sustainable Security
compliance, and ensure a secure operational environment.
21 CommitmentMaharashtra'sto Customer-Centric
Excellence: Bank of
Approach
Prioritizing Customer Satisfaction: The Bank's Commitment to
Service Excellence
The Bank of Maharashtra is dedicated to delivering exceptional customer
service and building strong relationships with its clients. Here's an overview of
Bank's key initiatives:
A. Implementing Industry Best Practices:
O We've actively implemented recommendations from leading
committees like Goiporia, Dr. S.S.
Tarapore, and Damodaran to ensure that we meet the highest customer
service standards.
O As a member of the Banking Codes and Standards Board of India
(BCSBI), we've adopted the Code of Banks' Commitment to Customers and MSMEs,
further emphasizing Bank's commitment to ethical and fair practices.
B. Upholding Customer Rights:
O In line with the Damodaran Committee's recommendations,
we've appointed an Internal Ombudsman at the Head Office to address customer concerns
promptly and fairly.
O We have documented and Board-approved policies on various aspects of
customer interaction, including deposits, cheque collections, grievance redressal,
compensation, deceased depositor claims, and customer rights.
These policies ensure transparency and consistency in Bank's
interactions.
C. Multi-Tiered Customer Service Structure:
O We've established Customer Service Committees at all branches,
ensuring customer concerns are addressed locally. These committees meet monthly to review
customer issues and implement improvements.
O A dedicated Standing Committee on Customer Service operates at the
Head Office level, along with Zonal Level Customer Service Committees, providing oversight
and guidance on customer service matters. These committees meet regularly to identify and
implement ongoing improvements.
O The committee of the Board on Customer Service convenes quarterly to
monitor service quality, grievance redressal processes, and overall customer satisfaction.
D. Streamlined Grievance Redressal System:
O We've implemented a comprehensive Standard Public Grievance
Redressal System (SPGRS) to ensure prompt and effective resolution of customer complaints.
O The SPGRS encompasses complaints received through various channels,
including social media, bank's website, branches, zonal offices, call centers, and
Head Office departments. It addresses issues ranging from staff behavior and credit/debit
card concerns to digital transactions and general customer service matters.
O We've integrated Bank's CMS (BO) portal, CPGRAM, and INGRAM
with SPGRS using Robotic Process Automation (RPA). This automation helps us efficiently
track complaints, record them in SPGRS, notify customers and relevant branches/zonal
offices via email, and automatically escalate overdue grievances to higher authorities
based on defined timelines.
E. Enhancing Service Quality:
O To further elevate service standards, we've included industry
experts on the Customer Service Committee of Board, benefiting from their insights and
experience for making suggestions for enhancing the quality of customer services and
improving the level of satisfaction.
O Bank has launched QR code feedback system at branches, in all the
digital channels (IB/MB/ WhatsApp),QR code printed in the Cheque book issued to the
customer, through call center to gather real-time customer perspectives on service
quality, Ambience, Ease of Transactions, Staff Behavior. By scanning the QR code, users
can quickly access feedback form to rate each attribute and share comments. The feedback
helps us continuously improve Bank's service and enhance customer satisfaction.
F. Review of the Resolution:
A process of random review of closed complaints is implemented within
the Customer Service Department by senior executives and TOP Management to ensure quality
of resolution and to facilitate continuous improvement through the identification of areas
requiring enhancement.
G. Expanding Accessibility:
O We've revamped bank's inbound call center in Pune and
established a new inbound/outbound call center in Noida to enhance customer support
accessibility.
O Bank's call centers cater to customers in seven regional
languages (Kannada, Tamil, Telugu, Marathi, Gujarati) alongside Hindi and English,
ensuring broader communication accessibility for grievance redressal.
O Feedback is collected on Call Center IVRS as well as through Manually
calling
H. Cybersecurity Awareness & Education:
O We regularly conduct mass awareness campaigns to educate Bank's
customers about cybercrime prevention and best practices for cyber hygiene.
O We utilize various communication channels to deliver these
educational messages, including WhatsApp, email, branch digital signage displays, and
monthly "Cyber Jaagrukta Diwas" (Cyber Awareness Day) events.
22 Internal Ombudsman: Commitment
to Uphold customer rights:
The Bank of Maharashtra is committed to fair and transparent grievance
redressal processes. In line with Reserve Bank of India (RBI) guidelines, we have
established an Internal Ombudsman (IO) to act as an independent authority for reviewing
customer complaints.
A. Independent Review & Recommendation:
O The IO reviews complaints that have been partially or wholly rejected
by the Bank, ensuring a fair and objective second look.
O Based on this review, the IO submits periodic reports to the Customer
Service Committee of the Board. These reports analyze complaint patterns and identify root
causes.
B. Continuous Improvement:
O The Customer Service Committee utilizes the IO's reports and
recommendations to implement necessary changes in procedures and guidelines. O This
proactive approach helps address underlying issues and prevent similar complaints in the
future.
C. New Appointment:
O To ensure continuity in this critical role, the Bank has recently
appointed a new Internal Ombudsman effective November 1st, 2025 following the
expiration of the previous Ombudsman's term.
Customer Complaint Status:
| S.N. Particulars |
2025-26 |
2024-25 |
| 1 Customer Complaints at |
|
|
| the beginning of the year |
140 |
64 |
| 2 Complaints received |
|
|
| during the year |
26805 |
14632 |
| 3 Complaints redressed |
|
|
| during the year |
26803 |
14556 |
| 4 Complaints pending |
|
|
| at the end of the year |
142 |
140 |
23 KYC-AML-CFT Compliance:
Ensuring Financial Integrity
The Bank of Maharashtra is committed to upholding financial integrity
and combating money laundering and terrorist financing activities. Bank's approach
includes robust policies, advances technology and proactive measures to mitigate financial
crime.
(I) Comprehensive KYC-AML-CFT Framework:
We have implemented a comprehensive Know Your Customer (KYC), Anti
Money Laundering (AML) and Combating Financing of Terrorism (CFT) Policy approved by
Bank's Board of Directors. This framework is the foundation of your Bank's
efforts to ensure regulatory compliance and prevent financial crime.
Key Elements of KYC Compliance Customer Awareness: i. We empower
customers by providing a detailed list of eligible KYC documents on our website, ensuring
transparency and ease of access. ii. This initiative fosters informed customer
participation in the KYC process.
Employee Training: i. Regular training sessions are conducted at
your Bank's dedicated training centres to equip staff with up-to -date knowledge of
KYC -AML-CFT guidelines. ii. Employees are trained to identify suspicious activities and
protect Bank's financial systems.
New Initiatives i. We have implemented MuleHunter.ai of RBIH in
your bank since 29 December 2025 which has transformed Bank's fraud management from a
manual, reactive process into an automated and precise system. This has improved
efficiency and helping identification of mule accounts proactively.
(II) Enterprise Fraud and Risk Management System (EFRMS) Proactive
Fraud Detection i. The EFRMS operates in monitoring and preventive modes across major
digital channels, including Core Banking, Internet Banking, Mobile Banking, UPI, AePS,
IMPS, ATM, E-commerce, POS and CMS. ii. The system leverages a comprehensive set of key
risk parameter as advised by RBI. These rules implemented in real time to detect anomalies
and automatically block or flag suspicious transactions thereby enhancing fraud
prevention.
(III) Interactive Voice Response System (IVRS) i. An automated IVRS
solution is being implemented to verify genuine customer transactions in real-time. ii.
This system minimises disruptions for legitimate transactions while effectively curbing
fraudulent attempts.
(IV) Off-Site Monitoring for mitigating operational risk in internal
accounts. i. Bank's Off-site Monitoring Unit (OMU) proactively detects suspicious
transactions in internal accounts. ii. Internal validations are developed in the system
for monitoring and better efficiency. iii. Early detection allows the Bank to address
irregularities swiftly, mitigate potential risks and strengthen internal controls.
(V) Cyber Complaint Redressal Mechanism i. A dedicated team
addresses cyber complaints through API integration with NCRP as well as manually by
implementing proactive measures such as account freezes and creating holds for disputed
amounts during the critical "golden hour". ii. We actively assist in grievance
resolution in case of deprived customer for hold/debit freeze in his account. iii.
Compliance of money restoration to the extent of hold created from the suspected account
against the victim's disputed transaction.
(VI) Law Enforcement Agency Compliance i. Bank has a dedicated
single-point contact which handles data submissions to various law enforcement agencies,
ensuing seamless and efficient investigations. ii. We provide digital and physical
records, such as account statements, KYC documents, IP logs and CCTV footage to agencies
like Cyber Police, CBI, SFIO, ED, SEBI, PMLA and others under legal mandates.
24 SustainableManaging RisksPracticesand
Advancing and
ESG initiatives:
At the Bank of Maharashtra, we are committed to securing Bank's
financial resilience while operating in an environmentally and socially responsible
manner.
24.1 Proactive Risk Management:
At the Bank of Maharashtra, we are committed to securing Bank's
financial resilience while operating in an environmentally and socially responsible
manner. As proactive risk management, Integrated Risk Management (IRM) department is also
analyzing 22 Pillar-II risks viz: Concentration risk, Reputation Risk, Legal Risk,
IT/Cybersecurity Risk, Liquidity Risk etc. These risks are analyzed on quarterly basis,
and remedial steps are initiated based on outcomes. IRM department is conducting stress
testing by simulating adverse economic scenarios – such as recessions, high
inflation, or market shocks – to evaluate the impact on Bank's capital adequacy
and liquidity.
24.1.1 Risk Management: Strong and Resilient Risk Culture I. The
Bank's Risk Management function is designed to identify, measure, monitor, and
control risks to ensure that they remain within the defined tolerance levels. An
independent Integrated Risk Management Department (IRMD) oversees these activities,
operating under the guidance of the Risk Management Committee (RMC) of the Board. The
department is led by the Chief Risk Officer (CRO), who reports to the Managing Director
& CEO and the RMC. At the zonal level, risk management is overseen by Zonal Risk
Officers.
II. The Bank has established comprehensive risk management
frameworks & policies, such as: a. Enterprise-wide Risk Management Policy b. Policy on
Operational Risk Management and Risk Culture c. Asset Liability and Market Risk Management
Policy. d. Interest Rate Policy on Advances. e. Credit Risk Management and Collateral
Management Policy. f. Fraud Risk Management Policy g. Climate Risk Management Policy. h.
Environment-Social-Governance (ESG) Policy III. To enhance credit risk management,
the Bank has adopted the CRISIL BOM ICON Model for borrower credit risk ratings. Automated
systems monitor various prudential exposures, corporate credit utilization, and risks
associated with third-party vendors and outsourced services.
IV. Bank monitors its liquidity and asset-liability
mismatch position through Liquidity Coverage Ratio (LCR), Net Stable
Funding Ratio (NSFR), Stock Approach Ratios, Statement of Interest Rate Sensitivity (IRS),
Statement of Structural Liquidity (SLS) etc. In addition to this, Bank has implemented a
robust risk management framework, supported by the implementation of the Oracle Financial
Services Analytical Applications (OFSAA) solution for strengthening and automation of
Asset Liability Management and Liquidity Risk Management.
V. Bank's Operational Risk Management framework is based on
three pillars and three lines of defense. All the existing as well as new policies /
products of the bank are vetted by Integrated Risk Management (IRM) department to identify
& assess the inherent/ potential risks and take suitable mitigation measures. The Risk
Control and Self-Assessment (RCSA) exercise of various products, processes and systems are
also conducted for identifying the inherent risk and measuring the effectiveness of
controls. Further to identify & monitor operational risk, the Bank has devised well
defined Key Risk Indicators (KRIs). In addition to this Bank has developed a framework to
assess Money laundering & Terror Financing of products.
VI. Bank is dedicated to safeguarding customers against fraudulent
activities and strengthening the fraud risk management system through the implementation
of robust fraud prevention framework includes: i. Enterprise Fraud and Risk Management
System (EFRMS): This cutting-edge system offers real-time transaction monitoring and
analysis, enabling detection and prevention of suspicious activities. ii. Hunter
Solution: Powered by sophisticated machine learning algorithms, this solution
identifies patterns and anomalies that may indicate fraudulent behavior, ensuring
proactive threat mitigation. iii. Early Warning System (EWS) Feeds: By utilizing
industry-wide data and trend analysis, this system provides timely alerts about emerging
fraud threats, equipping us to implement preventive measures effectively.
In addition to the above framework Root Cause Analysis (RCA) of fraud
events are done, and modus operandi of these events are analyzed to identify the control
gaps and framing suitable strategies to avoid the recurrences of such incidents. With
these advanced tools and systems, Bank is committed to protecting our Bank's
customers' financial security and maintaining trust at every step.
VII. To consider climate risk as an emerging risk Bank has taken
various initiatives for Climate Risk Management such as issuance of Policy on Climate Risk
Management, disclosure of GHG
(Scope 1 & 2) emissions & disaster risk mapping of Branches and
assessment of Banks's business w.r.t disaster risk.
24.1.2 Environmental, Social, and Governance (ESG) Commitment: I. MAHA
GREEN PEHAL: Leading the Sustainable Banking Practices:
Under the banner of "Maha Green Pehal," the Bank
reaffirms its commitment to environmentally sustainable practices. This initiative is a
cornerstone of Bank's ESG Policy /strategy, encompassing diverse programs to reduce
the environmental impact and foster sustainable banking.
Key Highlights of your Bank's ESG efforts: a. Energy Efficiency: Prioritizing
energy-efficient equipment for computers, lighting, air conditioning, and other systems to
reduce energy consumption. b. Green Energy Adoption: Installation of solar panels
at owned premises to harness renewable energy. c. Paper Reduction: Embracing
digital transformation (e-meeting) to minimize paper consumption. Promoting virtual
meetings to reduce dependency on printed materials. d. Eliminating Single-Use Plastics:
Complete ban on single-use plastics across all facilities. e. Green Financing:
Introduction of innovative financial products to support eco-friendly initiatives such as:
O Electric vehicle (EV) financing.
O Solar energy projects. O Green housing initiatives.
O Renewable energy developments. f. E-Waste Management: Adopting
eco-friendly disposal methods for electronic waste. g. ESG Scorecard: Bank has
initiated to access the Borrower's based on ESG parameters. h. Climate Risk
Management Strategy: Bank has developed short-term/medium Term/Long Term strategy
w.r.t climate risk management approach.
II. Green Cell Initiative: To promote and manage environmentally
sustainable practices the Bank has established a dedicated Green Cell (an
executive-level committee). Green Cell overseeing & integrating climate-related risks
into the bank's overall risk management framework, promoting sustainable finance, and
ensuring compliance with regulatory guidelines related to climate risk.
Through such initiatives, the Bank aligns with Sustainable
Development Goals (SDGs) and demonstrates its commitment to fostering a secure,
sustainable, and prosperous future for Bank's stakeholders, the environment, and the
communities we serve.
25 Drivingand PublicBrandRelationsExcellence:at
BankMarketing of
Maharashtra:
Marketing and Publicity play a vital role in the growth and success of
the bank by enhancing its visibility, building trust, and attracting new customers. In
today's competitive financial landscape, effective marketing helps banks communicate
their products, services, and unique value propositions to a wider audience. Publicity,
whether through traditional media or digital platforms, creates awareness about the
bank's initiatives, achievements, and innovations, shaping a positive public image.
It also strengthens customer engagement, promotes brand loyalty, and supports the
bank's efforts in financial inclusion by educating the public about various banking
solutions. We understand the strategic marketing and publicity contribute to business
expansion, customer retention, and long-term sustainability.
A. Reaching Customers through Integrated Marketing: O Omnichannel
Strategy: We embrace a modern approach that blends traditional media (print, radio,
television, and outdoor advertising) with the power of digital marketing & social
media marketing to maximize reach and impact. Bank's print media campaigns raise
brand awareness, while radio and television commercials cater to specific regional
audiences. Local cable placements and strategic outdoor advertising further amplify
Bank's message.
O Digital Engagement: Recognizing the growing influence of
online platforms, digital marketing campaigns are run extensively across various
platforms. These campaigns focus on promoting key products such as home loans, car loans,
gold loans, term deposits, account opening through video KYC, and loan options for
agriculture, MSME (Micro, Small, and Medium Enterprises), etc. These digital initiatives
not only raise product awareness but also generate leads that branches can convert into
business opportunities.
B. Educating and Empowering your Bank's Customers:
O Digital Advocacy: Promoting your Bank's digital banking
solutions and cybersecurity awareness is central to Bank's marketing efforts. We
leverage social media to share important announcements, festive greetings, and informative
content through engaging knowledge series.
O Cyber Awareness series- To generate awareness about cyber
security, a audio visual series known as ‘Swara se Seekho, Scam ko Pahchano' was
launched during the year. The concepts of cyber security were explained in simplest
manner.
O Mr. Gyaani & Miss Sayani: Your Bank's creative
educational video series, "Mr. Gyaani ka Banking
Gyaan" (Mr. Gyaani's Banking Knowledge) and "Miss Sayani
ke Sayane Cyber Tips" (Miss Sayani's Smart Cyber Tips), provides viewers with
valuable insights on banking and cybersecurity best practices.
O Bank's Saturday quiz series, Curious Minds, is an
engaging initiative designed to captivate Bank's audience with thought-provoking
questions related to banking, finance, and the broader industry. It not only sparks
curiosity and encourages learning but also fosters meaningful interaction with your
Bank's followers. By blending fun with knowledge, Curious Minds serves as an
effective platform to raise financial awareness, promote your Bank's brand, and build
a more informed and connected community.
C. Staying Ahead of the Curve:
O Social Listening & Market Research: To continuously refine
Bank's strategies, we actively utilize social media listening tools. These tools
provide valuable data on audience engagement, brand sentiment, and competitor activity,
allowing us to adapt and improve Bank's marketing efforts. O Bank through its defined
social media strategy and engaging content have a follower base of more than 1.15 crore
across all social media platforms (Facebook, X, LinkedIn, Instagram & Youtube) taken
together. Bank of Maharashtra is the first bank to cross 1 crore subscribers after State
Bank of India. Bank ranks 1st in Facebook
& Youtube in terms of number of followers/ subscribers amongst all
PSU banks excluding SBI.
D. Building Trust Through Public Connect:
O Community Engagement: We actively participate in sponsorships,
CSR (Corporate Social Responsibility) activities, and charitable initiatives. These
efforts not only demonstrate Bank's commitment to social good but also help build
strong public connect and reinforce your Bank's positive brand identity. Bank has
undertaken several initiatives this year, major ones being donation to orphanage,
sponsorship for libraries, donating garbage vehicle to municipal corporation, donation
towards sports, sponsoring marathon etc.
E. Looking Forward:
The way forward for the Bank lies in embracing digital transformation
while maintaining a strong focus on personalized customer engagement. By leveraging
advanced data analytics, we can better understand customer behavior, tailor marketing
strategies, and launch targeted campaigns that resonate with diverse audience segments.
Strengthening digital channels through social media, mobile apps, and personalized email
outreach will not only enhance customer interaction but also build a robust online
presence. Additionally, integrating traditional marketing with innovative digital
practices will help reinforce brand trust and drive sustainable growth, positioning the
bank as a forward-thinking financial institution in an increasingly competitive market.
26
Citizen's Charter
The Bank has adopted the Citizen's Charter since 2000-01, which
details the duties and responsibilities of the Bank towards its customer. The charter is
displayed at all the branches and Bank's website.
27 Corporateat Bank of SocialMaharashtraResponsibility–
Building (CSR)
a Brighter Future:
Bank of Maharashtra is deeply committed to its Corporate Social
Responsibility (CSR), consistently striving to give back to society and contribute to
nation-building. The bank actively engages in initiatives that support education,
healthcare, promoting sports and women empowerment, environmental sustainability, and
community development. By aligning its CSR efforts with the broader goals of social
welfare, it aims to uplift underprivileged sections of society and promote inclusive
growth. Whether it is through financial literacy programs, rural development projects, or
wildlife conservation, Bank of Maharashtra continues to uphold its responsibility as a
socially conscious and compassionate institution dedicated to the well-being of the
communities it serves.
A. Focus Areas:
Your Bank's CSR activities target a range of critical areas,
aiming to create a measurable difference in the lives of the underprivileged:
O Healthcare: We support essential medical services by providing
financial assistance for ambulances, dialysis machines, eye checkup camps, and awareness
campaigns on various health issues.
O Education: We promote educational opportunities for
underprivileged children by sponsoring admissions, scholarships, and infrastructure
upgrades in schools.
O Sports & Skill Development: We empower youth through
sponsorships for sports activities and skill-based training programs, enhancing their
employability.
O Women Empowerment: We champion women's empowerment
through initiatives that provide training for self-employment, support women
entrepreneurs, and facilitate access to resources.
Bank provided financial assistance for operational expenditure of
school & Orphanage for Girls.
O Sanitation: We contribute to improved sanitation by sponsoring
sanitary pad vending machines and beautification projects for garbage collection points.
O Environment: We actively support environmental sustainability
through tree plantation drives and installation of solar power grid systems.
B. Key Initiatives:
O Financial Assistance: We've provided financial aid for
various projects, including ambulances, medical equipment installations, electric carts,
educational scholarships, and skill development programs.
O Empowering Women: We've supported women's
self-employment through training programs, sponsorships for exhibitions, and events
promoting entrepreneurship.
O MSME Support: We've facilitated the growth of Micro,
Small, and Medium Enterprises (MSMEs) by sponsoring exhibitions and conferences
specifically designed for women entrepreneurs.
C. Looking Ahead:
Bank of Maharashtra is firmly committed to its social responsibility,
recognizing its role in driving positive change beyond banking. With a strong belief in
giving back to society, Bank of Maharashtra continues to integrate social responsibility
into its core values, reinforcing its identity as a responsible and compassionate
corporate citizen.
28 ImplementationPromoting Hindi:atOfficialBank
of Language
Maharashtra
During the year 2025-26, the Bank achieved various remarkable
achievements in the field of Official Language implementation:
1.1 Path of Excellence in Promoting the Hindi Language:
I. The Bank was awarded with the "Second Prize" in "B
Region" by the Department of Financial Services, Ministry of Finance, Government of
India for its in house magazine, ‘Mahabank Pragati'.
II. During the year, the Bank was awarded with the titles of
"Ashirwad Bhasha-Setu Puraskar" in the category of "Nationalised Bank"
and the " Ashirwad Gaurav Samman" by the prestigious Mumbai-based institution,
‘Ashirwad', for the progressive use of Hindi.
III. During the All India Official Language Conference, Town Official
Language Implementation Committees (TOLICs) convened by your Bank namely; Mumbai South,
Pune City,
Latur and Solapur were awarded by Department of Official Language,
Ministry of Home Affairs.
1.2 Fostering a Culture of Hindi:
I. Town Official Language Implementation Committees (TOLICs) convened
by other banks awarded bank's Thane Zonal Office, Chandigarh Zonal Office, Varanasi
Zonal Office, Nashik Zonal Office and Kolkata Zonal Office for the outstanding
implementation of Official Language Hindi.
II. Various Town Official Language Implementation Committees (TOLICs)
convened by other banks awarded your bank branches of Indore Zone (Barwani), Chandigarh
Zone (Panchkula), and Jaipur Zone (Jodhpur Main and Ajmer Main) for the outstanding
implementation of the Official Language Hindi.
III. The Bank's quarterly house magazine, ‘Mahabank
Pragati', and E-magazine, ‘Mahabank Samvad Sarita', are being regularly
published. As a new initiative, the Bank's e-magazine, ‘Mahabank Samvad
Sarita', is also being published regularly in Braille script for the benefit of the
Bank's visually impaired employees. IV. The Parliamentary Committee on Official
Language inspected Bank's Head Office, Guwahati Zonal Office, Bengaluru Zonal Office,
Bhopal Zonal Office, Indore Zonal Office, Thane Zonal Office, Mumbai North Zonal Office,
Varanasi Zonal Office, Pune City Zonal Office, Kolkata Zonal Office, Ernakulam Zonal
Office, Chennai Zonal Office, Aligarh Branch (Noida Zone) and Puducherry Branch (Chennai
Zone) during the financial year. The Committee appreciated the implementation of Official
Language Hindi in these offices. On this occasion, the latest issue of the Bank's
e-magazine ‘Mahabank Samvad Sarita', titled "Artificial Intelligence and
Banking," was also released.
V. Your Bank serves as the Convener Bank for the Town Official Language
Implementation Committees (TOLICs) in Mumbai, Pune, Solapur, Latur, and Jalgaon. Meetings
of these committees were held regularly throughout the year, and various activities of the
committees were conducted in accordance with the scheduled calendar.
1.3 Promoting Hindi Accessibility:
"WhatsApp Banking" –WhatsApp Banking facility is
available in a bilingual format (Hindi and English), as well as in other Indian languages
such as Marathi, Tamil, Malayalam, and Telugu.
I. "Hindi Karya Diwas" is being observed by all branches and
offices of the Bank on the third Saturday of every month. All employees perform the
maximum possible amount of their work in Hindi on this day.
II. Bank's new mobile banking application, 'Zen Lyfe'
has been made available in Hindi and English along with 10 other Indian languages for the
convenience of customers.
III. The Bank's website is available in Marathi, Hindi, and
English, along with 20 other Indian languages.
IV. The facility of "Online Official Language Dictionary" has
been made available on the Bank's intranet for the use of all employees.
29 Environment:Building a SecureBankBanking of
Maharashtra's Initiatives Measures
29.1 Bank of Maharashtra prioritizes safety and well-being of your
Bank's customers, staff, and assets. To achieve this, a comprehensive Security Policy
encompassing several key areas has been formulated:
I. Safeguarding Bank Assets: This encompasses a formidable security
framework designed to safeguard critical assets across Branches, Administrative Offices,
Currency Chests, Data centers and other sensitive locations. Bank has institutionalized
risk based access control and surveillance mechanisms to strengthen asset protection,
enhance institutional resilience and mitigate operational and reputational risks in a
dynamic threat environment.
II. Creating a Secure Banking Environment: Bank is committed to
creating a secure, inclusive, and welcoming environment across all Banking touchpoints.
This enables employees, customers, and visitors to engage in banking operations with
confidence and trust, while reinforcing the Bank's commitment to safety, service
excellence, and stakeholder assurance.
III. Disaster Preparedness: Bank recognizes the critical importance
of preparedness in addressing unforeseen events. Accordingly, Security Policy incorporates
comprehensive measures to mitigate risks arising from both natural and man made disasters.
These measures are aimed at ensuring business continuity, safeguarding critical operations
and protecting the safety and well being of employees, customers, and other stakeholders.
29.2 Proactive Security Measures:
Bank continuously assesses and strengthens its security posture through
ongoing analysis of potential threats. These proactive measures include:
I. Threat Intelligence Gathering: Bank actively monitors prevailing
and emerging crime trends, conducts systematic analysis of bank robbery and intrusion
tactics, evaluates reported security breaches and examines fire incident patterns. This
continuous threat intelligence process enables to anticipate potential risks, enhance
preventive and corrective security measures and maintain readiness against evolving
threats.
II. Training and Capacity Building: Security Personnel and other
Bank Staff are systematically equipped with the skills and knowledge required to manage
security situations effectively. Regular and structured training programs ensure
preparedness to respond promptly and appropriately to a wide range of operational,
emergency, and threat scenarios.
III. Outsourced Cash Van Management: Bank has implemented a
centralized outsourcing system for cash van services. This centralized framework has
significantly enhanced operational efficiency by ensuring uniform deployment practices,
standardized service levels and streamlined coordination with cash logistics service
providers.
The system has enabled optimum utilization of manpower by eliminating
duplication of efforts at branch and zonal levels, thereby contributing to cost
efficiency, improved governance and enhanced operational control, while allowing branches
to focus on core banking functions.
IV. Technology Driven Security Initiatives: As part of the
Bank's commitment to strengthening its security framework, an Electronic Surveillance
System has been implemented across all ATMs of the Bank. a) This system comprises a
combination of advanced sensors, cameras, sounding devices, and analytical tools to detect
suspicious activities, generate real-time alerts and enable prompt follow up actions. b)
This innovative surveillance mechanism plays a crucial role in safeguarding the
Bank's ATM network and mitigating potential security risks.
Bank is further in the process of enhancing this system by
incorporating advanced AI driven features aimed at proactive deterrence of untoward
activities. c) Additionally, Bank is in the process of extending these enhanced
surveillance capabilities to other customer touchpoints, thereby ensuring a seamless,
robust and integrated security framework across its operations.
29.3 By implementing a comprehensive Security Policy and embracing
cutting-edge solutions like Branch and ATM E-surveillance, the Bank of Maharashtra fosters
a secure and reliable banking experience for all.
30
Building a Strong Compliance Culture
During FY 2025–26, the Compliance Department continued to support
the Bank's governance framework through a balanced, risk based and forward looking
approach. By strengthening processes, leveraging technology, enhancing awareness and
fostering a culture of shared responsibility, the Department contributed to reinforcing
stakeholder confidence and sustainable business growth. "Business First,
Compliance Always."
Recognizing that effective compliance depends on awareness and
ownership at the operational level, the Compliance Department undertook several
initiatives to strengthen compliance culture across the Bank. These included: O Monthly
Compliance Newsletters O Monthly Compliance Quiz O Circulation of Monthly Gists of RBI
guidelines in both Hindi and English
These initiatives supported better understanding among field staff,
encouraged engagement, and contributed to more consistent implementation of regulatory
requirements.
31 Effective and robust credit monitoring: a. Geotagging and ARJUN
Application
Stressed accounts are monitored through the Stress Assets Visit Portal
and the ARJUN mobile app. Integrated geotagging ensures optimized, transparent, and
accountable field visits to stressed assets.
b. Loan Tracking Cell (LTC)
The LTC functions as a centralized call centre for follow up and
upgradation of stressed accounts. Around 2,500 borrowers are contacted daily. The primary
centre operates from Pune, with system access across all zones. Apprentices deployed in
the field also support follow up calls.
c. Delinquency & Compliance Risk Index (DCRI)
A dynamic one page DCRI dashboard is available 24?7 across devices.
Daily SMS and email alerts are sent to senior officials, while monthly reviews by Top
Management have strengthened compliance and supervision.
d. Entity Relationship & Transaction Network Dashboard
This advanced analytics tool provides a consolidated view of customer
relationships and fund flows across
NEFT, RTGS, and intra bank transactions, enabling faster identification
of risky patterns, related party exposure, and potential fund diversion.
e. Roll Forward & Roll Backward SMA Movement Dashboard
The dashboard tracks asset quality migration across Standard, SMA, and
NPA categories over monthly and quarterly periods, helping identify early stress and
recovery trends with reduced manual effort.
f. AI Enabled Predictive Analysis for Debt Collection
An AI/ML based collection management module with coordinated field
deployment and the "Field Plus" mobile app supports recovery in stressed and
freshly slipped accounts. Predictive debt collection models and PSA reports classify
accounts into P1, P2, and P3 risk categories, enabling targeted interventions and
improving recovery efficiency.
g. AI Enabled Collections & Field Operations
An AI/ML based Collection Management Module supports coordinated
deployment of Feet on Street collection agents, complemented by the "Field Plus"
mobile application for recovery in stressed and freshly slipped accounts.
32
International Banking:
The Bank has received license from IFSCA (the GIFT city regulator) on
08th May 2025 for establishing the branch (i.e. IFSC Banking Unit) in GIFT city, Gujarat;
and the operations at IBU were commenced w.e.f. 12th Sept 2025. Since IBU is considered as
offshore branch, Bank is now able to offer various products / services in foreign currency
which includes ECB, Trade Finance, FCTL, deposits in foreign currency etc.
Within 6 months of its operations i.e. as of 31st March 2026, IBU has
achieved the total assets size of USD 645 million.
33 Performance Evaluation of The
Directors and The Board:
As per DFS guidelines and with an objective to continuously improve
corporate governance practices, the Bank has engaged an external agency to support the
Bank in laying down parameters for performance evaluation of Directors and the Board as a
whole. This has resulted in the development of comprehensive performance evaluation
frameworks. These criteria are meticulously aligned with the relevant regulations and
guidelines, including the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 and the SEBI Guidance Note on Board
Evaluation, 2017. For the year FY 2025-26, performance evaluation of
the Board has been conducted, reaffirming the Board's competence. The process also
showcased the strong synergy and collaboration between the Board of Directors and Top
Management. Report of External Agency is being placed to Board for noting and suggestion,
if any. Performance evaluation of sub-committees of Board is being placed to the Board and
the same is being evaluated by the Board on yearly basis.
Further, the performance evaluation of Whole Time Directors is carried
out by Committee of Board for Performance Evaluation / Board on the basis of guidelines
prescribed by Government of India. Further, Performance of non-official Directors /
Shareholder Director is done by Board of Directors on annual basis as per prescribed DFS
guidelines.
34 Declaration By Independent Directors
During The Year:
All the Independent Directors of Bank have submitted the declaration
confirming that they meet the criteria of independence as provided under Regulation 25 of
SEBI (LODR) Regulations, 2015.
35
Board And Its Sub-Committees:
The composition of the Board and its Sub-committees as required to be
constituted as per the SEBI (LODR) Regulations, Government of India / Reserve Bank India
Guidelines and the meetings held therein are mentioned in the Corporate Governance Report.
36
Secretarial Audit:
Pursuant to Regulation 24A of SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 and SEBI Circular No. CIR/CFD/CMD1/27/2019 dated February
08, 2019, Bank had appointed M/s Joshi & Joshi., Practicing Company Secretaries, Pune
as a Secretarial Auditor to undertake Secretarial audit of Bank for a period of 5 years
wef FY 2025-26 till FY 2029-30. For the FY 2025-26, the Secretarial Audit Report is
annexed to this Report. The response of the management on the observations raised by
secretarial auditor are as under :
Observations of Auditor Management's reply
There is no Independent Woman In terms of the Banking Companies
(Acquisition and Transfer of Undertakings) Director appointed on the Board of the Act,
1970 read with the Nationalized Banks (Management and Miscellaneous Bank as required under
SEBI (LODR) Provisions) Scheme, 1970, the appointment of Directors on the Board of the
Regulations, 2015 Bank is done by Government of India, except Shareholder Directors who
are elected to the Board as per public shareholding of the Bank.
Request for appointment of Directors on the Board of the Bank,
including the appointment of Woman Director, has been taken up with DFS, MoF, GoI Further,
position of Directors on the Bank's Board, highlighting the vacancies therein, is
submitted to DFS, MoF, GoI on regular basis.
Number of Independent Directors were In terms of the Banking Companies
(Acquisition and Transfer of Undertakings) less than 50% of its total strength of Act,
1970 read with the Nationalized Banks (Management and Miscellaneous Board members as
required under SEBI Provisions) Scheme, 1970, the appointment of Directors on the Board of
the (LODR) Regulations, 2015 Bank is done by Government of India, except Shareholder
Directors who are elected to the Board as per public shareholding of the Bank.
Request for appointment of Directors on the Board of the Bank has been
taken up with DFS, MoF, GoI Further, position of Directors on the Bank's Board,
highlighting the vacancies therein, is submitted to DFS, MoF, GoI on regular basis.
Casual vacancy caused for Shareholder The Bank has appointed
Shareholder Director during FY 2025-26 for the Director categorised as Independent Casual
Vacancy arose in FY 2025-26.
Director w.e.f. July 07, 2025 was filled on March 27, 2026. As on March
31, 2026, Bank has appointed required no. of Shareholder Directors on the Board.
Audit Committee could not be The Committee has been reconstituted with
the appointment of new constituted as per the Regulation till Independent Director w.e.f.
March 27, 2026 and the meeting of the committee March 27, 2026. i.e. fourth quarter of FY
was also conducted immediately before the end of the Financial Year. 2025-26 and minimum
number of meetings of committee were not held.
| Observations of Auditor |
Management's reply |
| Nomination & Remuneration |
In terms of the RBI Master Directions dated November 28,2025
prohibits the |
| Committee of Board does not comprise |
appointment of same Chairman for more than one sub-committee
of the |
| of minimum three non-executive |
Board. Therefore, the Bank is not in a position to Constitute
the NR Committee |
| directors and 2/3rd of Independent |
as per SEBI (LODR) Regulations. |
| Directors from December, 20, 2024 till |
|
|
In terms of Banking Companies (Acquisition and Transfer of
Undertakings) Act, |
| March 31, 2026 due to insufficient |
|
|
1970 read with the Nationalized Banks (Management and
Miscellaneous |
| number of Independent Directors on |
|
|
Provisions) Scheme, 1970, the appointment of Directors on the
Board of the |
| the Board of the Bank. |
|
|
Bank is done by Government of India, except Shareholder
Directors who are |
|
elected to the Board as per public shareholding of the Bank. |
|
Request for appointment of Directors on the Board of the Bank
to fill the |
|
vacant positions has been taken up with DFS, MoF, GoI.
Further, position of |
|
Directors on the Bank's Board, highlighting the
vacancies therein, is submitted |
|
to DFS, MoF, GoI on regular basis. |
| Risk Management committee could not |
The Committee has been reconstituted with the appointment of
new |
| be constituted from December 20, |
Independent Director w.e.f. March 27, 2026. |
| 2024 till March 27, 2026 due to |
|
| insufficient number of Independent |
|
| Directors on the Board of the Bank. |
|
| Stakeholders Relationship Committee |
In terms of the RBI Master Directions dated 28.11.2025
prohibits the |
| was not properly constituted from |
appointment of same Chairman for more than one sub-committee
of the Board |
| February 03, 2026 upto end of |
therefore, the Bank is not in a position to Constitute SRC as
per SEBI (LODR) |
| financial year. |
Regulations. In terms of Banking Companies (Acquisition and
Transfer of |
|
Undertakings) Act, 1970 read with the Nationalized Banks
(Management and |
|
Miscellaneous Provisions) Scheme, 1970, the appointment of
Directors on the |
|
Board of the Bank is done by Government of India, except
Shareholder |
|
Directors who are elected to the Board as per public
shareholding of the Bank. |
|
Request for appointment of Directors on the Board of the Bank
to fill the |
|
vacant positions has been taken up with DFS, MoF, GoI.
Further, position of |
|
Directors on the Bank's Board, highlighting the
vacancies therein, is submitted |
|
to DFS, MoF, GoI on regular basis. |
37
Directors' Responsibility Statement:
The Directors confirm that in the preparation of the annual accounts
for the Financial Year ended March 31, 2026:
I. The applicable accounting standards had been followed along with
proper explanation relating to material departures, if any;
II. The accounting policies framed in accordance with the guidelines of
RBI were followed and the directors had selected such accounting policies and applied them
consistently and made judgments and estimates that are reasonable and prudent so as to
give a true and fair view of the state of affairs of the Bank at the end of the financial
year and of the profit and loss of the Bank for that period;
III. The directors had taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the provisions of applicable
laws to the Bank for safeguarding the assets of the Bank and for preventing and detecting
fraud and other irregularities;
IV. The directors had prepared the annual accounts on a going concern
basis;
V. The directors had ensured that internal financial controls followed
by the Bank are in accordance with guidelines issued by RBI in this regard and that such
internal financial controls are adequate and were operating effectively; and
VI. The directors had devised proper systems to ensure compliance with
the provisions of all applicable laws and that such systems were adequate and operating
effectively.
38
Changes In The Board Of Directors:
During FY 2025-26, the following changes took place in the Board of
Directors:
O Shri Mrutyunjay Mahapatra, appointed as a Shareholder Director on the
Board of the Bank w.e.f.
01.07.2025.
O Shri Mrutyunjay Mahapatra, ceased to be a Shareholder Director on the
Board of the Bank w.e.f 07.07.2025.
O Shri Asheesh Pandey, ceased to be the Executive Director on the Board
of the Bank w.e.f. 30.09.2025.
O Shri Prabhat Kiran was appointed as an Executive Director on the
Board of the Bank w.e.f. 24.11.2025.
O Shri Rohit Rishi, ceased to be the Executive Director on the Board of
the Bank w.e.f. 03.02.2026.
O Shri Prasenjeet Shrikrishna Fadnavis, appointed as a Shareholder
Director w.e.f. 24.03.2026.
39
Dividend Distribution Policy:
In terms of Clause 43A of SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, Bank has formed a Dividend Distribution Policy and the
same is available on the Bank's website i.e. www.bankofmaharashtra.bank.in
40 Business Responsibility and
Sustainability Report:
As per the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, business responsibility and sustainability report for the year 2025-26
has been prepared and is part of Annual Report and also is available on the Bank's
website i.e. www.bankofmaharashtra.bank.in.
41 Major Awards won by Bank
in FY 2024-25.
I. Bank was honored with the Public Sector Excellence Award 2025 at the
Dun & Bradstreet BFSI & Government Summit 2025.
II. The Bank has been honored as Public Sector Bank of the Year in the
institutional category at the prestigious FE Best Bank Awards.
III. Your bank has been honored with the prestigious SKOCH GOLD AWARD
2025 in BFSI category for the initiative "Art Ledger-An Employee Engagement
Program.".
IV. Bank has received "Best mid-sized Bank" award at Business
Today Banking and economy Summit.
V. Your Bank has received 33rd Ashirwad Bhasha Setu award
2025 in the category of nationalized banks of Government of India.
VI. The Bank has received the national award for outstanding
performance in SHG -Bank linkage (2024-25) under DAY NRLM, from the ministry of Rural
Development, Government of India.
VII. Bank has been awarded in all five different categories at 21st
Annual banking Technology Conference, Expo
& Citations by IBA. This was the third consecutive time your Bank
made it in the category of mid – size bank.
VIII. Your bank has been honored with the "Dhanam Best Bank of the
year 2025" award at South India's premier BFSI event -Dhanam BFSI Summit &
Award Nite 2025.
42
Acknowledgement:
The Board of Directors place on record their appreciation for the
contribution made by the outgoing Directors.
The Board of Directors wishes to express sincere gratitude to the
Government of India, the Reserve Bank of India, the Securities and Exchange Board of
India, Insurance Regulatory and Development Authority, Indian Banks' Association,
Stock Exchanges and Depositories for their valuable advice, guidance and support; to the
Customers and Stakeholders for their patronage; to the correspondents and associates for
their co-operation and to all the members of staff of "Mahabank Family" for
their unstinted commitment and contribution to the overall development of the Bank.
|
For and on behalf of the Board of Directors |
|
(Nidhu Saxena) |
|
Managing Director and CEO |
| Place: Pune |
|
| Date: 01.06.2026 |
