Bank of Maharashtra
Bank of Maharashtra is an Indian Public sector [banks in India|public sector bank], based in Pune. It was established in 1935 and nationalised by the Government of India in 1969. It has 2,641 branches, as of June 2025.
History
Bank of Maharashtra was established on 16 September 1935 in Poona, Bombay Presidency, under the direction of Mahratta Chamber of Commerce to assist small businesses and traders during the cooperative movement in India.BoM became a scheduled bank in 1944, obtained a banking license in 1955 under the Banking Companies Act, and listed on the Bombay Stock Exchange in 1958.
In 1961, it acquired three smaller banks in Maharashtra, viz., Bank of Konkan in Malvan, Bank of Nagpur in Nagpur, and Bharat Industrial Bank in Poona.
BoM was one of the 14 banks nationalised by the Government of India in July 1969.
In 2004, BoM went public again with an initial public offering, following which Government of India's ownership stake in the bank reduced from 100% to 76.77%.
Regional Rural Bank
BoM started three regional rural banks in association with central and state governments: Marathwada Gramin Bank in Nanded, Aurangabad-Jalna Gramin Bank in Aurangabad, and Thane Gramin Bank in Thane. These RRBs were merged to create the Maharashtra Gramin Bank in 2009.The Maharashtra Gramin Bank was further amalgamated on May 1, 2025 with Vidarbha Konkan Gramin Bank under The "One State, One RRB" policy of Government of India to form single RRB per state.