Bank of Maharashtra is a major government-owned public sector bank, with the Government of India being the majority stakeholder. It was established in the year 1935 as a private sector bank in Pune, Maharashtra under the Indian Companies Act. The bank was nationalised and became a public sector bank in the year 1969. In the year 2004, Bank of Maharashtra went public with an IPO, following which the GOI’s stake in the bank reduced from 100% to 76.77%.
| Particular | Details |
| Bank Name | Bank of Maharashtra |
| Type | Public Sector |
| Founded | 16th September 1935 |
| Founder | Mahratta Chamber of Commerce |
| Headquarters | Pune, Maharashtra, India |
| MD & CEO | Nidhu Saxena |
| Chairman | N/A |
| Regulator | RBI |
| Services | Retail Banking, Business Banking, MSME Banking, Agriculture and Rural Banking |
| Branch Network | 2,641 |
| Customer Base | 3+ crore |
| Total Deposits | INR 3.21 lakh crore |
| Total Advances | INR 2.73 lakh crore |
| CASA Ratio | 49.55% |
| Bank Type Focus | Priority sector lending and government schemes |
| Official Website | www.bankofmaharashtra.bank.in |
Net Worth and Market Cap
Net Worth of Bank of Maharashtra was approximately INR 1.14 lakh crore in the year 2025. Current market capitalisation of the bank is INR 50,454.48 crore.
Corporate Leadership
Nidhu Saxena is serving as the Managing Director and CEO of Bank of Maharashtra since March 2024. Dr. Abhijeet Phukon is the Government nominee Director, Sanjeev Prakash is the RBI nominee Director and Praveen Kumar is the Shareholder Director of the bank. The bank currently does not have a separate Chairman or Non-Executive Chairman.
Key Products and Services
Bank of Maharashtra provides a wide range of banking products and services tailored for individuals, businesses, MSMEs, farmers, corporates and NRIs. As a government bank, it puts emphasis on priority sector lending and government schemes, apart from digital banking.
The bank specialises in MSME and priority sector lending products. These include GST credit, project loan, gold loans for MSME, machinery finance, standby line of credit, mudra loans, textile cluster scheme and vehicle loans for small road transport operators. Furthermore, the bank facilitates a number of government schemes like PM Jan Dhan Yojana, PM Suraksha Bima Yojana, NPS Vatsalya and more.
Retail or personal banking offerings include savings accounts, current accounts, term deposits, recurring deposits, retail loans and more. Agriculture or rural banking services include kisan credit card, financing for land purchase/farm mechanisation/irrigation, all purpose term loans for farmers and government-backed schemes for farmers.
Scale of Operations
Bank of Maharashtra is headquartered in Pune, Maharashtra, India. It has a network of 2,641 branches, as of June 2025. 43% of its branches are located in Maharashtra, with rest in other parts of India. Around 20-25% of the branches are located in the rural areas.
