Background and Inception

The Mahratta Chamber of Commerce (MCC) was established in Poona in 1934 and its Founder Secretary Shri A.R.Bhat was a great visionary.

Shri Bhat initiated for a comprehensive review of banking services available in the region through the special issue of Kesari news paper released in memory of Lokmanya Tilak within a few months of establishment of MCC. He ensured that his friend, Shri V. P.Varde, considered as a doyen of co-operative movement, wrote an article on the necessity of a separate bank for Maharashtra, thus launching a public discussion on the subject. While there was no noticeable response to the article of Shri Varde, Shri A R Bhat kept on discussing the subject with leaders in Trade and Industry.

Shri Bhat ensured that Mahratta Chamber and its Directors took up the issue and held a Conference on Business and Industry in Poona on behalf of the MCC in February1935.

Shri Bhat pushed the proposal for formation of a bank and succeeded in getting the following resolution adopted by the conference:

"For providing capital to the trade and industry in Maharashtra, it is essential to establish a Joint Stock commercial bank. The Mahratta Chamber is, therefore, requested to make all the necessary enquiries in that behalf and take appropriate steps for floating such a bank. The business community in Maharashtra is urged to support such an effort. " The Swadeshi movement of the first decade of the 20th Century gave stimulus to the establishment of a number of commercial banks under Indian Management in Maharashtra.

The MCC formed a sub-committee consisting of Sarvashri V.G.Kale, D.K.Sathe, N.G.Pawar, G.D.Apte and A.R.Bhat to work out the details.

The first meeting of the committee was held on 19 May 1935 in the conference

room of the Kesari Mahratta office and besides the committee members, prominent personalities from the City like Shri Babasaheb Kamat, the then President of the MCCI, J S.Karandikar, Rajabhau Godbole, Govindrao Pandit, Damuanna Potdar, S.R.Sardesai, Baburao Gokhale, and N.N. Kshirsagar among others participated in deliberations.

Another meeting of the sub committee with wider public representation was followed on 27 May 1935 in the meeting hall of Kesari Mahratta office and decisions on matters like the number of Directors on the Board of the proposed bank (maximum to be 11 members), Amount of each share (to be Rs.50/-) and primary condition for becoming a Director (to hold a minimum of 500 shares) were taken.

The Bank was formally registered under the Indian Companies Act, on the auspicious day of 16 September 1935.

The Memorandum and Articles of the Bank were signed by following 19 promoters (Sarvashri)

Board of Directors 1. Prof.V G Kale 2. D K Sathe 3. B M Gupte 4. N. G. Pawar 5. V T Ranade 6. V P Varde 7. M R Joshi 8. S G Marathe 9. Raghunathrao Sohoni 10. D V Potdar Witness Signatory: Shri G D Apte

Others 1. A R Bhat 2. S M Joshi 3. B S Kamat 4. S R Rajguru 5. R N Abhyankar 6. T V Sane 7. D G Bapat 8. G S Marathe 9. D D Chitale

The first Board of Directors of The Bank of Maharashtra Ltd was constituted with following members. Prof.V G Kale, an ex-member of Indian Tariff Board and a reputed economist and educationist of old generation. Shri D K Sathe, a businessman and a prominent social worker and had experience of Co-operative banking. Shri B M Gupte, Chairman of the Poona Central Co-operative Bank. Shri N. G. Pawar, Engineer and Contractor Shri V T Ranade, of M/s.V R Ranade and Sons a leading firm of Engineers and Contractors Shri V P Varde, a leading figure in the co-operative movement and who provided major impetus to the move. Shri M R Joshi, a leading paper merchant from Pune. Shri S G alias Annasaheb Marathe of M/s.V R Ranade and Sons. Shri Raghunathrao Sohoni, a leading merchant who had initially moved the resolution of formation of the Bank for Maharashtra.

Nature of the Business carried The Bank shall carry on and transact the business of Banking as defined in Clause (a) of Section 5 of the Banking Regulation Act, 1949, and may engage in one or more of the other forms of business specified in SubSection (1) of Section 6 of that Act.

Clause (b) of Section 5 of the Banking Regulation Act, 1949 defines Banking as "the accepting for the purpose of lending or investment, of deposits of money from the public, repayable on demand or otherwise, and withdrawable by cheque, draft, order or otherwise."

shall be final. Vision. 1. collecting and remitting money. if so required by the Reserve Bank of India. The terms and conditions on which any such agency business shall be carried on by the corresponding new Bank on behalf of the Reserve Bank shall be such as may be agreed upon 3. 4. receiving. Mission and Quality policy Vision : The Bank aims to progressively increase its business every year so as to . If no agreement can be reached on any matter referred to in Clause (b) above. thereon. bullion and securities on behalf of the Government of India. The corresponding new Bank may transact any business or perform any function entrusted to it under Clause (a) by itself or through any agent approved by the Reserve Bank. or if a dispute arises between the corresponding new Bank and the Reserve Bank as to the interpretation of any agreement between them.Other Business that the Bank may undertake (Section 3 (7)) Sections 3 (7) of Chapter II of the Banking Companies (Acquisition) Act 1970 provides for the Bank to act as Agent of Reserve Bank. The Bank shall. b) Undertaking and transacting any other business which the Reserve Bank may from time to time entrust to it 2. act as agent of the Reserve Bank at all places in India where it has a branch for: a) Paying. the matter shall be referred to the Central Government and the decision of the Central Government.

Reference rate for the scheme is Bank rate. The institution of family is the very backbone of Indian culture and society.     The account can be opened by any individual. idea of providing banking facilities for people with small means both for deposits and advances and the Bank is well aware that it has reached its present position mainly due to the trust and confidence reposed in it by their clients and well-wishers. besides gradually aiming for an international presence. The deposit will be accepted in multiples of quarters between 24 to 36 months.thereafter. Saving Deposit Easy cash liquidity   The minimum deposit for this account is Rs. The Bank also aims at being the best in Maharashtra and the most liked in other states of the country and have a national character in the entire country. Banks have already become an integral part of the day-to-day life of the average urban family.000/.100/Withdrawals can be made through withdrawal slips or cheques . singly or jointly. It also aims to become a techno-savvy Bank for enhancing the levels of customer satisfaction. which will provide a healthy bottom line. Product / Service Profile Deposit Scheme Floating Rate Deposit Scheme: The purpose of this scheme is to provide optimum return on the investment of customer at market related rates. HUF. Mission : The visionary founders of the Bank had in mind. Company. 10. Minimum amount of deposit acceptable under the scheme will be Rs 5. With spread of education and with advanced technologies.00 lakh and multiples of Rs. It is easy to visualize that servicing the banking needs of families will be one of the main business area in future with tremendous potential for growth.double the business every three years by increasing the customer base substantially. Firm or any other legal entity. banking will spread to rural families across the Country. Trust.

000/Minimum period of deposit 12 months Repayment on the date of maturity alongwith interest .as core deposit and in multiples thereof to be deposited every month as in the case of recurring deposit Maximum amount that can be deposited at one time is Rs.100/.and in multiples thereof Minimum period of deposit ? 6 months Repayment on the date of maturity in lumpsum alongwith interest Quarterly compounding of interest Nomination and loan facilities available Maha Bank Unit Deposit Scheme Double benefit scheme       Minimum deposit Rs.5000/Minimum period of deposit 46 days Automatic renewal after expiry of designated period Part withdrawal facility No penalty on the amount withdrawn Nomination and loan facilities available Mahabank – Solabh Maha Yojana Flexible Recurring Deposit Scheme     Minimum deposit Rs.10.Rs.  Nomination facility available Introduction necessary Cumulative Deposit Scheme (CDR) Compounded returns on deposit      Minimum deposit .100/.

conducted by colleges / universities approved by UGC / Govt.MCA.00%) Loans above Rs.Loans Educational Loans Purpose Eligibility For Studies in India and Abroad Studies in India: Graduation courses/Colleges under Universities approved by UGC. In India : Rs.50 lac Satisfactory third party Guarantee Above Rs. Computers purchased out of loan be hypothecated./Technical / PG courses/ Post Graduation: .4. Other courses leading to diploma / degree etc.00 lac 5% for studies in India 15% for studies abroad Deduction Limit Rate of Interest N. 4.A.00 lac . MBA.7. Studies Abroad : Job oriented Prof. Processing Fee Insurance . Interest concession is available only for moratorium period.50 lac Value of collateral security after providing requisite margin as below should be equal to the quantum of finance plus 2 acceptable guarantor.00 lac (Base Rate + 2. 4. 4. Repayment EMI – 60 Months (Loan plus int.00 lac . 7.75%) • • Simple interest during moratorium period. there after compounded monthly 1% interest concession may be provided to the loanees if the interest is serviced regularly as and when applied during the study period when repayment holiday is specified for interest/ repayment under the scheme.00 lac Up to Rs. 20. Loans up to Rs.4. MS etc Age Maximum amount Security Guarantor Student should be Indian national. Margin Up to Rs.accrued together) Moratorium: Course Period + 1 year OR 6 months after getting job whichever is earlier Nil N.Clean Above Rs.A.Nil Above Rs. 4. have secured admission by Entrance test / Merit bases selection.00 lac Abroad : Rs.00 lac (Base Rate + 2.00 lac to Rs. / AICTE / AIBMS / ICMR etc. 10.

Mortgage of land. sprinkler. Mortgage of land. etc. Borrowers are covered under personal accident insurance scheme. Agriculturist who owns agricultural land As decided by District Technical committee & limit worked out for the purpose. irrigation. Revolving credit facility for 3 years. Hypothecation of movable assets and guarantors. tube well.Others • Loan will be granted to student with parent as Co-borrower/s Loan will be disbursed in stages as per requirement directly to Institute / College. This Facility is presently available only in selected 75 branches (shortly it will be increased to handsome number) Loans for Agriculturist Mahabank Kisan Credit Card Purpose Cultivation of crops Meeting the short-term credit needs of farmers for crop production and allied activities etc. For new dug wells as per the NABARD Unit costs for equipments/estimates. Agriculturist who owns agricultural land. Insurance for notified crops is available. bore well. Eligibility Amount Security Repayment Other Terms & Conditions Farm Mechanization for Agriculturist Purpose Purchase of Tractors/Power tillers . Eligibility Amount Security Repayment Other Terms & Conditions Minor Irrigation for Agriculturist Purpose Digging of new wells. Other Facility Student can apply education loan in online mode through our website. pump set installation of pipe line. Hypothecation of crop/Assets. drip irrigation. electric motor. revitalization of existing well. Assured and timely availability of working capital for crop cultivation. Depending upon the repaying capacity 7 to 11 years. Maintenance of farm equipments etc. It should not be in dark watershed area. Proposed well should be located in white watershed area. Coinciding with harvesting of crops-season/marketing of produce. purchase of oil engine.

Animal cost . Pomegranate. Within 15 years. Layers Farm. Group Rs 50 lakh .Purchase of Harvesters Purchase of Threshers & other farm implements Eligibility Amount Security Repayment Other Terms & Conditions Agriculturist who owns at least 8 acres of Irrigated land. Agriculture graduates Individiuals Max. As per cost of machinery Hypothecation of Tractor/trolley and accessories. Comprehensive insurance of machinery with bank clause. Hypothecation of crops.Broiler Farm. 4 to 5 years with suitable installments.as per the project. Grapes etc. Eligibility Amount Security Repayment Other Terms & Conditions Horticulture Purpose Eligibility Amount Security Repayment Cultivation of fruit crops-mango. Rs 10 lakh. Mortgage of land. Purchase of Machinery Working Capital Requirements. Animal Husbandry Purpose Purchase of Cows/Buffaloes Poultry.As per NABARD unit costs Others. Labour and / or those who have necessary expertise. Hypothecation of Animals/Plant Machinery to be purchased Mortgage of land. Agriculturist. agri. Insurance of all animals is essential. Agriculturist with adequate provision of irrigation As per NABARD Unit costs/ Project Mortgage of land. The Tractor should get at least 1500 hrs of work in a year. Scheme for Financing Setting up of Agri-Clinics and Agri-Business Centres for Agriculture Graduates Purpose Eligibility Amount Setting up of Agriclinics Setting up of Agribusiness Centers. Hatchery Sheep/Goat Rearing Construction of Byre. 7 to 9 years.

00. Max. Net annual Agril. Scheme for two wheeler to farmers Purpose Eligibility Amount Security Repayment Purchase of two wheeler. 5 to 10 years.or 5 acres of irrigated land. Guarantors. Rs 50.000/. Hi-tech Projects Purpose Eligibility Amount Security Hi-tech projects. Max. Scheme for Financing Farmers for Purchase of Land Purpose Eligibility Amount Security Repayment Other Terms & Conditions Purchase of land Small & Marginal farmers. As per the project cost. 10% Hypothecation of assets.000/Mortgage of land.000/Hypothecation of Asset.Security Repayment Hypothecation of Assets created out of bank loan Mortgage of land. As per the repaying capacity & incremental income.000/-. 3 to 5 years. Consumer Loans to Farmers Purpose Eligibility Amount Margin Security Repayment Purchase of consumer durables. Total land holding including proposed land should not exceed 5 acres. Net annual Agril. Hypothecation of goods . Maximum Rs 15. for four wheelers Max.000/. Income above Rs 50. Income above Rs 50.or 5 acres of irrigated/10 acres seasonally irrigated land. 3 to 5 years. Agriculturist with knowledge of advance techniques in the farming. Hypothecation of crop/Assets. Rs 50. Rs 2 lakh. share croppers/Tenant farmers.

Other collateral security. Security : Charge on assets. Purpose :To meet working capital requirements. Purpose : For acquisition of fixed assets / machinery or for financing projects. Collateral if required. Loan Scheme for Corporates The Bank finances the corporate sector for its business activity and for setting up units. Amount of facility : Based upon the Bank's assessment of the working capital requirement. Amount of facility : Generally upto a specified percentage of the value of the bill. Such finance is extended in the form of Funded Facilities Non funded facilities Funded Facilities Term Loans : Repayment in instalments over a fixed time. Discounting under : L/C or firm order. Cash Credit : Running account facility. diversification and upgradation. Security : Charge on the Bill. Repayment Within 6 to 8 years. Security : Charge on assets. . Bill Discounting : In the nature of post sales limit. Amount of Loan : Generally 75% of the cost of maintaining a margin of 25%. modernisation.

etc.5% . • At the post shipment stage export finance is provided by way of • • • Negotiation / Discounting of Export Bills. The advances are repayable from Export proceeds or receivable and carry interest rate in conformity with RBI guidelines. Proceeds of negotiation / Discounting of Export Bills.Non Funded Facilities • • Letter of Credit facility to facilitate purchase of material / goods. Finance in foreign currency is extended by way of Pre shipment Credit in foreign currency at the preshipment stage and Discounting of Export Bill in foreign currency at the post shipment stage. Advance against Export incentive. Amount of Packing Credit : Upto 90% of FOB value of goods. • Security : Charge on assets created out of finance. For finance of International trade. For Importers For Importers Funded Working Capital finance by way of cash credit facility and non funded Working Capital . Interest Rates is linked to LIBOR and is subject to maximum LIBOR + 1. Export finance is also provided in foreign currency at internationally competitive interest rates. the Bank provides Working Capital facility to Exporters Importers For Exporters Working Capital finance can be availed at • • • Pre-shipment stage Post shipment stage At the pre-shipment stage finance is provided in the form of Packing Credit Purpose : For procuring / manufacturing of goods meant for export. performance bonds. Letter of Guarantor facility for the issuance of Guarantee in the nature of bid bonds. Rupee advances against collection bills. Repayment: From Export proceeds.

Loan Scheme for Entrepenuer The Bank finances the Industrial Sector for setting up a unit for modernization. Loan Scheme for Individuals . Non fund facilities in the form of Letters of Credit / Letters of Guarantee. diversification. Working capital by way of funded Cash Credit limit . upgradation. This enables accessing of finance at internationally competitive interest rate linked to LIBOR. Foreign Currency Lending The Bank also extends short term foreign currency loans to importers / Resident Constituents.finance by way of Import Letter of Credit facility is provided to corporates who are importers. The Bank finances Industrial Ventures under its own scheme as well as under the National Equity Fund Scheme (NFE) and Other Government Sponsored Schemes (GSS). expansion. Bank finance can be availed in the form of : • • • Term Loan for acquisition of machinery and fixed assets.

Architects. Loans against deposits If you have any term deposit with us you can in emergencies always avail of this facility which we offer. Loan Scheme for professional and Self Employed Purpose To purchase equipment/ repairs/renovation to existing equipment. Guarantee No guarantors required. Dentists. Chartered Accountants. Cost accountants. purchase of tools. "the bank extends finance under Eligibility . Margin : As low as 10% As high as 25% Repayment In easy installments or date of maturity of the receipt. Construction contractors or Management Consultants or to a person trained/qualified/skilled in the chosen vocation/field in which employed.We have finance schemes that translate your dreams into reality. Solicitors. acquiring/repairing Doctors. Lawyers. working capital requirements. Engineers. Persons eligible Anyone who has a deposit with us. Surveyors.

Maximum 50 yrs. Maximum 55 years for other than salaried persons For salaried class 50 times of Gross Salary or 60 times of Net Monthly salary which ever is higher subject to applicable margin For Businessmen Equal to avg annual income (Net profit + Depreciation) of last 3 yrs X 4 times (B/S. consider joint holder’s income Age Quantum of Loan: Maximum Loan Quantum: No maximum limit for Metro/Urban area Rs.000/-. Minimum 21 years . From short term to period generally ranging up to 5 years.5 lakh for repairs/renovation in all areas . 1% of the loan for amount above Rs 25. Repayment by EMI Processing fee Housing Loan Scheme Purpose • • • Build your own house Purchase new house/Flat (Old or New) Repairs/Renovation of existing house Eligibility Salaried Persons.15 lakh in Semi Urban/Rural area Rs. Businessmen with sufficient disposable income. Farmers having min five acres of irrigated land holding. For Farmers 4 times of avg annual net income. Amount Depending upon the assessed requirement considering financial viability. Ensure for repayment capacity & repayment experience. sponsored schemes. for salaried persons. Margin : Security Assets created by the Loan to be charged to the bank and other collateral security. IT returns) Also note repayment of any other term liabilities. land holding. Cross check Gross income. repayment capacity etc.its own facilities and even under the Govt. Generally 25%. Sugar Factory/APMC/ other agencies bills etc. Non Resident Indians are also eligible. cropping pattern. If jointly owned. which can vary according to requirement and assessment. Professionals.

Deductions Total deductions including proposed EMI should not exceed 65% of gross monthly salary / annual income. Upto Rs 25000/.whichever is less Clean Person entitled to Family Pension. FDRs of our Bank etc. 75000/. 70 Years 12 months pension Rs. excluding shares) guarantee of the spouse. Margin Deduction Limit Repayment Processing Fee Insurance Other Other Facility Gold Card Scheme For Exporters .One Guarantor with sufficient income/networth Above Rs 25000/. Security Insurance Mahabank Adhar Scheme Purpose Eligibility Age Maximum amount Security Guarantor Personal expenses Pensioners Max.A. guarantee of relatives whose income is considered for quantum For full value against fire/ Earthquake etc with Bank’s clause.Equitable/Regd. But only 2 times after 65 yrs N. No restriction on number of occasions up to age of 65 yrs. If there is no beneficiary of family pension an acceptable guarantor Nil 60% EMI – 60 Months Nil N. Mortgage of property or Equal amount of paper security (NSCs.A.

In case of any misuse of the card or observance of any violation of terms and conditions. Limits will be sanctioned in-principle for 3 years. with a provision for renewal. including those under small and medium sector.Objective of the Scheme : To provide better terms of credit to all eligible exporters. Time : Documents : Mahabank Renewable Energy Equipments . together with further details if necessary. Sanction of fresh / enhanced credit limit 25 Days Renewal of existing credit limits 15 Days Sanction of ad-hoc credit facilities 7 Days Requests for credit under Gold Card Scheme is to be made as per the simplified loan application form for export credit (please see Annexure B in Downloads ) along with Annexure I to IV as applicable. Requests for Packing Credit in Foreign Currency (PCFC) from Gold Card holders will be given priority. • • • • Service charges stipulated for Gold Card holders will be 25% lower than the charges recovered from other exporters. irregularities are noticed in the account. In case of unanticipated export orders. including those under small and medium sectors. Their names do not figure in RBI's defaulter list / caution list and they have not been blacklisted by ECGC. All exporters. would be covered under the scheme provided: Eligibility : • • • • • Benefits to Exporters : Their accounts are classified as "STANDARD" continuously for 3 immediately preceding years. subject to satisfactory compliance with the terms and conditions of sanction stipulated by the Bank. They do not have overdue export bills in excess of 10% of the current year's turnover. the Bank shall have the right to recall the Card any time. Tenure : The Gold Card will be issued for a period of 3 years and will be automatically renewed for a further period of 3 years provided no adverse features. norms for inventory will be relaxed taking into account the size and nature of export order. There are no overdue in pre-shipment export credit. for assessment of credit limit under Gold Card Scheme. A standby limit to the extent of 20% of the assessed limit will be made available to the Gold Card holders for meeting urgent credit needs for executing sudden orders. They have not run up losses continuously for 3 immediately preceding years. compared to those extended to other exporters by the Bank.

Hypothecation of the system to be purchased One guarantor acceptable to the bank Adequate insurance cover of the system / equipment Other Terms and Conditions: Payment to be made directly to the dealers Salary Gain Scheme Purpose To meet personal needs of the customers who are salary earners. Minimum net income of the applicant should be Rs. 50. .Objective : Purpose : To promote adoption of renewable energy practices and use of Solar Home Systems. Interest concession of 50 basis points for borrowers under the scheme will be available. 1. Solar Energy 1.75 %. Rural Artisans. 90 % of cost of the system. Equipments promoting Clean Energy The equipments should be manufactured by the companies approved by Bureau of Indian Standards (BIS).e. Solar Home Systems Solar Water Pumps with photovoltaic cells Equipments run on Photovoltaic Cells Bio Energy 1. To install renewable energy equipments viz. Salaried. at present 10. Eligibility : Amount : Margin : Rate of Interest : Farmers. 3. 50.50 % i. Total loan will be repayable within 5 years. Biomass Power Cogeneration Products Equipments converting Waste to Energy Bio Diesel Clean Energy Programmes: 1. 2. 3. business or Self Employed persons. The interest rate accordingly will be at BPLR – 0.000/. 2. maximum Rs. as well as UNEP. 2. Repayment : Security : Repayment instalment would be decided as per the income generation of the applicant.per annum.000/10 % in Bank’s favour. We are providing consumer loans in general to borrowers for purchase of consumer durables and the interest rate charged is at BPLR The equipments / items that will be purchased under the scheme will be helpful in supporting ecological balance.

Rs. Regular credit of salary. Employer be kept informed about availment of facility.Customer should be in permanent employment at least for 2 years with corporate/mid corporate/central or state govt/ co-op society. 2.Minimum take home salary should be Rs 6000/p.Eligibility i. 50% of one month take home salary or Rs 25000/ whichever is Less.00 lac 2W – Rs. Interest on debit balance be charged on monthly basis. • • • • Eligible amount to be decided on the basis of last six Months take home salary.50 lac Minimum Annual Income Maximum amount . Vehicle Loan Scheme Purpose Eligibility Age Minimum Employment Purchase of New 4 or 2 wheelers / Second hand 4 wheelers up to 3 yrs old Permanent salaried / Professionals / Businessmen For Service Persons Total – 3 yrs Current – 2 yrs Others – 3 yrs 4W .15. Nature of Facility: Amount : Margin : Security Other Conditions: Overdraft in Saving Account. Clean.0. repayment obligations.m. 2.3.Applicants salary should be with the branch. Existing account holders can also opt for the scheme. iii.50 lac for salaried. Interest on credit balance if limit is not availed. In case of change in take home pay existing limit can be adjusted.00 lac for others 2W – Rs.Rs. which can vary according to requirement and assessment.00 lac (Income of spouse can be included if joins as Co-applicant) 4W – Rs. ii. (Average of last 6 months to be taken). Generally 25%.

3. Security Guarantor Margin : Hyp. If the loan is availed for a lesser amount than the prescribed limit.1.18 times Gross Pay Professionals .00 lakh p. The maximum amount for purchase of 2 wheelers & 4 wheelers is Rs 0.00 lakh respectively. permanent in service / professionals -minimum income Rs. (Teachers having salary a/c Rs.50 lac Minimum Annual Income Maximum amount . 500/Compulsory 20 permanent Employees of same organization of repute -Margin Relaxation up to 10%.1.50 lakh & Rs.2. 15. 2000/2W Rs.Salaried .Sheet/ P & L account or last years income whichever is less.00 lac) Rs.50 times of average annual Income as per their last three Balance . 50% for second hand 4 wheeler up to 3 yrs 60% of Gross Pay 4W(New) 84 Months 2W 60 Months 2nd 4W 60 Months 4W Rs. borrower desires to avail the loan during the currency of the Deduction Limit Repayment Processing Fee Insurance Group Finance Others Mahabank Personal Loan Schemes Purpose Eligibility Age Minimum Employment To meet personal Expenses Permanent salaried / Professionals (must be IT assesses) 21yrs – 60yrs at Loan Maturity For Service Persons Total – 5 Yrs Current – 2 yrs Professionals -3 years Salaried persons. of Vehicle One Guarantor acceptable to Bank 15% for new vehicle.a.

Types of Account . namely Rupee Savings Account or Rupee Current Account and Rupee Fixed Deposit Accounts. which ever is less Margin : Deduction Limit Rate of Interest Security Guarantor Repayment Processing fee Insurance Group Finance Others Nil 60% of Gross Pay Click here to view the Interest Rate CLEAN One Guarantor acceptable to Bank EMI – 36 mts (Max) or residual service whichever is less 1% of Loan Amt.50% of Gross Avg.A. These accounts are for Non-Resident Indians who need an account to credit local dues like rent from property etc.Salaried . Min.6 times Gross Pay Professionals . Non-Resident Indians and Persons of Indian Origin can open this type of account.A.500. Income of last 3 yrs IT return or last yrs inc. When you become non-resident. This account will be maintained in Indian Rupees. Rs. NRI Services Non Resident Ordinary Account    You can open Rupee Checking Accounts.00 N. the Rupee accounts held by you prior to your becoming nonresident get designated as Non-Resident Ordinary accounts. No Group Finance N.

Account Opening: The account can be opened by the following funds: o o o o o • Remittance from abroad.00. Savings. or Resident in India.. Interest Rates Interest Rates on these accounts are the same as domestic rates. b. interest etc. Recurring and Term Deposit. Current income such as rent. Proceeds of Foreign Currency/notes/travellers cheques during the temporary visit of the account holder. All local payments in Rupees including payments for investments.000/-per academic year to meet expenses in connection with education of their children.000 to meet the medical expenses abroad of the account holder or his family members. dividend. Permitted Credit Proceeds of remittances received from outside India through normal banking channel or foreign currency notes tendered by the account holder during his temporary visit to India or transfers or legitimate dues in India of the account holder. Upto US$1.00. • • Joint accounts: The account can be opened jointly with other Non-Resident Indians. . Proceeds of Drafts/personal cheques. pension. Upto US$1. net of applicable taxes. The funds held in these accounts are non-repatriable except in the following cases: o o o o Upto US$30.All types of accounts can be opened under the scheme such as Current. subject to compliance with RBI regulations Remittance outside India of current income in India net of applicable taxes. Permitted Debits a.000 per year representing sale proceeds of immovable properties held by them for a period of not less than 10 years. Transfer from existing FCNR/NRE accounts of same person and Funds from local sources representing bonafide transactions in Rupees.

The account can be maintained in any form such as Savings. Recurring and Term Deposit etc. Balances held in these accounts are free from Wealth Tax. travellers cheques. proceeds from your existing NRE / FCNR accounts.. securities and dividend of UTI and other investments in shares and debentures provided that the investments were made by debit to the . Current. iii. drafts.Proceeds of Draft/personal cheques. remittances from abroad in foreign currency. ii. Tax Benefits Income by way of interest earned on these deposits is exempted from Income Tax. The account can be opened jointly with another non-resident/s provided all the account holders are persons of Indian nationality or origin. iv.Proceeds of Foreign Currency notes/travellers cheques / During the temporary visit of the account holder. Interest on Govt.Remittance from abroad. Opening of Account i.Transfer from existing FCNR / NRE accounts of same person Repartiation Funds held in this account including interest earned thereon are fully repatriable. Power of Attorney Power of Attorney for the NRE account can be given to a local person allowing the person to operate the account for local payments. Permitted Credit Proceeds of Foreign Currency cheques. Opening of accounts with resident Indian is not permitted. The account will be maintained in Rupees. to make eligible investments etc.Income Tax Interest earned on these deposits shall be subject to at source deduction of Income tax at prevailing rates NRI External Account     The account should be opened by the Non-Resident account holder himself and not by the holder of power of attorney in India. Nomiation Facility Nomination facility is available for NRE accounts.

The account will be maintained in Foreign Currency. Opening of Account:   o o o o Remittance from abroad. transfer to NRE/FCNR of your own account. These accounts are Term Deposit accounts with minimum maturity of one year. The account should be opened by the Non-Resident account holder himself and not by the holder of Power of Attorney in India. Remittances outside India.NRE / FCNR account. Permitted Debit Local Disbursements. Nomiation Facility . You will be earning interest on the deposits in foreign currency only. Opening of account with resident Indian is not permitted. Joint Accounts The account can be opened jointly with two or more non-resident Indians only. The maturity period ranges from one year to three years. Balances held in these accounts are free from Wealth Tax. Transfer from existing FCNR / NRE accounts of same person Repartiation Funds held in this account including interest earned thereon are fully repatriable. Joint account with Resident Indian is not permitted. Proceeds of Foreign Currency notes/travelers cheques/ during the temporary visit of the account holder. Proceeds of Draft/personal cheques. The account can be opened jointly with another non-resident provided all the account holders are persons of Indian nationality or origin. Investments in shares/securities/debentures of an Indian company is permitted subject to regulations in vogue Foreign Currency Account scheme    The account can be opened by Non-Resident Indians (NRI) and Overseas Corporate Bodies (OCB). Tax Benefits Income by way of interest earned on these deposits is exempted from Income Tax.

You can open Current. Savings and Term Deposit Accounts under the RFC Scheme. Funding of Account You can open FCNR deposit Account by: o o o o Remittance from abroad. investments in foreign currency such as shares and securities and immovable property outside India acquired or held while you were resident outside India. However. for a period of 9 years even after his permanent return to India. shares. business and immovable properties abroad. after a continuous stay of minimum one year abroad. o Balances standing to the credit of NRE/FCNR accounts together with interest due thereon. Facilities for home bound Indians  An NRI. EURO etc. JPY. The account can be maintained in any currency such as USD. Eligibility to open a Resident Foreign Currency Account (RFC). who has stayed abroad continuously for at least one year. you will not be given a cheque book facility on the RFC Savings/Current Account. Proceeds of Travellers Cheques / Personal cheques / Drafts. is permitted to maintain his investments in bank deposits. Transfer from your existing NRE / FCNR account. NRIs returning after less than one year should obtain RBI's permission for opening such accounts. NRIs returning permanently. GBP. DEM.  Permitted Credit o Amounts of Foreign Exchange Assets including deposits with banks outside India.   Resident Foreign Currency Account  This is a scheme permitting persons of Indian nationality or origin who have returned to India for permanent settlement (Returning Indians) after being resident outside India for a continuous period of not less than one year to open foreign currency accounts against the proceeds held in NRE/FCNR accounts or funds remitted from abroad. . securities. can open Resident Foreign Currency Accounts with banks in India. Proceeds of Foreign Currency Notes.Nomination facility is available for FCNR(B) deposits.

Your name and account details. Name of our branch where you have the account. ---.g. 803-3165-537 of BANK OF MAHARASHTRA. --. Transfer to other Foreign Currency Account of the depositor himself and All local payments.with ---. NEW YORK (SWIFT CODE IRVTUS3N) for credit to A/c No.of ---. 5. Permiited Debit o o o o o o o o Expenses for education abroad. o o Dividend /Income or sale proceeds of overseas foreign currency assets. Other bonafide purpose permissible under the exchange control regulations. Family travel. Our account number as mentioned in the enclosed list.Branch. Name and address of our correspondent bank abroad and corresponding SWIFT Code. Kindly get the form and the passport copies attested by an official from INDIAN EMBASSY/HIGH . we maintain our accounts with 18 banks all over the world.to BANK OF NEW YORK.India. 3. Inward Remittance The procedure for funds transfer/inward remittance is simple.o Amount of Foreign Currency Notes and Travellers cheques brought at the time of returning to India. Medical expenses. Swift Code of Bank of Maharashtra is "MAHBINBB". USA) as under: Remit USD--. Amount required. 2. For opening an account with us all you have to do is download and fill the Account Opening Form and submit the same at any of our branches.e. Pension from abroad. 4. Nomination facility is available for RFC deposit accounts. Currency Declaration Form (CDF) is required if the foreign currency notes exceed USD 5000 or value of travelers cheques and notes exceeds USD 10. To facilitate quick and safe transfer of funds. Mumbai for further credit to NRE A/c No. Bank charges. The list of these correspondent banks with their addresses and our account details are included in the remittance message: 1. All you have to do is instruct your bankers (in the country of remittance .00.

In 2008. . through the Imperial Bank of India. The bank traces its ancestry to British India. BSE: 500112. making it the oldest commercial bank in the Indian Subcontinent. Area of Opoeration 22 states and 2 union territoris It doesn’t have branches in Assam Arunanchal Manipur Mizram Nagaland Sikkim Tripura Ownership Pattern 71% government 29% public Competitor information Company Name : State Bank of India State Bank of India (SBI) (NSE: SBIN. LSE: SBID) is the largest stateowned banking and financial services company in India. Bank of Madras merged into the other two presidency banks. SBI provides a range of banking products through its vast network of branches in India and overseas. with the Reserve Bank of India taking a 60% stake.COMMISSION/CONSULATE NOTARY/CURRENT BANKERS. to the founding in 1806 of the Bank of Calcutta. The government of India nationalized the Imperial Bank of India in 1955. and renamed it the State Bank of India. the government took over the stake held by the Reserve Bank of India. Bank of Calcutta and Bank of Bombay to form Imperial Bank of India. which in turn became State Bank of India.

With an asset base of $352 billion and $285 billion in deposits. Within a decade the bank turned into one of the most efficient and best performing banks of India. IDBI Bank Ltd The Industrial Development Bank of India Limited (IDBI) (BSE: 500116) is one of India's leading public sector banks and 4th largest Bank in overall ratings.including products aimed at non-resident Indians(NRIs). It was established in 1964 by an Act of Parliament to provide credit and other facilities for the development of the fledgling Indian industry. the Stock Holding Corporation of India (SHCIL). with over 16.[2] Some of the institutions built by IDBI are the National Stock Exchange of India (NSE). it is a regional banking behemoth. and currently in Pakistan). reorienting of lending strategy through Large & Mid Corporates and establishment of new wings viz. established on 19 February. the Entrepreneurship Development Institute of India. 1980. is one of the public sector banks in India. which today is owned by the Indian Government. The bank has progressed on several fronts crossing the Business Mix mark of Rs 2 lacs crores as on 31st March 2010 making it the seventh largest Public Sector Bank in India. RBI categorised IDBI as an "other public sector bank". At that time total working of the bank was Rs. Oriental Bank of Commerce Oriental Bank of Commerce. though for a brief period it was a private scheduled bank. 758 branches and 513 centers.[1] It is currently 10th largest development bank in the world in terms of reach with 1300 ATMs. the Small Industries Development bank of India(SIDBI). has the largest banking branch network in India. the National Securities Depository Services Ltd (NSDL). the Export-Import Bank of India(Exim Bank). The State Bank of India is the 29th most reputed company in the world according to Forbes. and IDBI BANK.[3] Also SBI is the only bank to get featured in the coveted "top 10 brands of India" list in an annual survey conducted by Brand Finance and The Economic Times in 2010. Rural Development and Retail & Priority Sector. The bank was nationalized on 15th April.483 crores having 19th position among the 20 nationalised banks.. in Lahore (then a city of British India. The Bank has to its utmost credit lowest staff cost with highest productivity in the Indian banking industry. achievement of 100% CBS. To meet emerging challenges and to keep up with reforms in financial sector. IDBI has taken steps to . It has a market share among Indian commercial banks of about 20% in deposits and advances. the Credit Analysis & Research Ltd. 1943. The State Bank Group.000 branches. and SBI accounts for almost one-fifth of the nation's loans.

"Industrial Development Bank of India Limited" (IDBIL). The commercial banking arm. London. its development and retention through training . IDBI BANK. IDBI. is the third largest bank in India. and representative offices in Almaty. along with ICICI Bank. Punjab National Bank Punjab National Bank (PNB ) (BSE: 532461. job enrichment. was merged into IDBI. The bank's total assets for financial year 2007 were about US$60 billion. career progression and welfare. reward. recognition and accountability for performance. Consequently. The bank has been ranked 248th biggest bank in the world by theBankers Almanac. NSE: PNB). IDBI attained the status of a limited company viz. and Shanghai. State Bank of India and Canara Bank . Oslo. It serves over 37 million customers. 1934. 1894 under the Indian Companies Act with its office in Anarkali Bazaar Lahore. Subsequently. IDBI Bank entered into a joint venture with Federal Bank and Fortis Insurance International to form IDBI Fortis Life Insurance. as well as branches in Hong Kong. formally entered the portals of banking business as IDBIL from 1 October 2004. the Bank is the second largest state owned commercial bank inIndia with about 5000 branches across 764 cities. The company ended the year with over 300 Cr in premiums as on 31 March 2009. Today. the Reserve Bank of India (RBI) issued the requisite notification on 30 September 2004 incorporating IDBI as a 'scheduled bank' under the RBI Act. In March 2008. of which IDBI Bank owns 48 percent. Punjab National Bank is one of the Big Four Banks of India. It was registered on May 19. Training Activities . Dubai. With theIndustrial Development Bank (Transfer of Undertaking and Repeal) Act. 2003.reshape its role from a development finance institution to a commercial institution. Infrastructure Facilities Human Resource Development: The Bank has put in place a comprehensive HRM Policy Document that provides road map for acquiring need based and appropriate human resource. PNB has a banking subsidiary in the UK. Dubai and Kabul.

ATM network to be increased from 345 to 500 Biometric ATMs to be introduced at selected branches. customer relationship management.29 Systematic approach for reducing Net NPA level to below 1% 64 Branches are proposed to be opened at new business centres and 3 extension counters to be converted into full fledged branches.Crores by March 2011. 19. Financial Inclusion to the unbanked section of the population. Introduction of Internet banking.000/.100. SHGs with special reference to agriculture to be promoted and financing be implemented so as to increase financing to small and marginal farmers. Swot Analysis Strength Brand Name and Trust Wide Network . 4 Currency Chests to be opened. skill building in credit.69%. Mobile banking and Phone banking.84% Growth in Savings Bank Deposits and average Saving Deposits growth rate of 17. marketing of service and products. Information Technology The bank has been leveraging the tools of information and communication technology for improving the operational capabilities and customer service. Awards and Recognition Work flow model Future growth and prospectus To cross the Business Level of Rs. forex.The bank has a training system which facilitates to regular periodic assessment of skill gaps at various levels in relation to existing and emerging business opportunity.65% Growth in Current Deposits and average Current Deposits growth rate of 17. 19.

Weakness Hierarchal management structure Delay in Sanctioning Loan Threats Intense competition. . Increasing level of NPA in Core Sectors Opportunities Expansion of Customer base by leveraging technology to enhance customer satisfaction Robust Cash Recovery and Reduction in NPA Level.

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