Bank of Maharashtra opens 11 new branches, takes its network to 1,536

Bank of Maharashtra (BoM), today expanded its branch and ATM networks by opening 11 branches and launching 22 ATMs.

Its branch-network now stands at 1,536 and its ATM network at 415, serving more than 13-million customers, a press release issued here stated.

Of the 11 new branches opened, six are in Gujarat, four in Maharashtra and one in Chhattisgarh.

Of these, one is an exclusive branch for self-help groups (SHGs) in Mumbai, the release said.

To provide financial services to the economically active poor to enable them to lead a better life and for increasing credit flow to self-help groups, the bank has opened its second specialised SHG branch at Goregaon in Mumbai.

This branch will be catering to the needs of SHG members in Mumbai, the release said.

The bank's first SHG branch was inaugurated in January and is located at Hadapsar, near Pune.

The SHG branches will also provide support services to SHGs, such as counselling and assisting in filling loan application forms, skill up-gradation and assistance for marketing their products.

The SHG branch premises is specially designed keeping in mind facilities for the comfort of the SHG women with a conference hall, library and a display counter for SHG products.

"The members of SHGs will be given privileged treatment and the branch will assist them in preparation of project reports, documentation and record-keeping," the release said.

The bank's chairman and managing director, AS Bhattacharya, said that the bank has achieved the set target of increasing service delivery channels.

He also said that with the adoption of state-of-the-art technology, the bank is in the forefront of providing all types of IT-enabled banking services to the public at large and to those who are in under-banked areas.