PROJECT REPORT

ON
“Study on financial Services by Bank of Maharashtra ’’

Submitted to
Rashtrasant Tukadoji Maharaj
Nagpur University, Nagpur
In Partial Fulfilment of the requirement of the
“Bachelor of Business Administration”

Submitted by
Dnyaneshwar Barapatre

Guidance by
Dr. Raghvendra Mishra

Dr. Ambedkar Institute of Management Studies and

Research, Deeksha Bhoomi, Nagpur-440012
2022-2023
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 CERTIFICATE

This is to certify that Dnyaneshwar Barapatre as satisfactorily completed the

project work entitled “Study on financial Services by Bank of Maharashtra” in not
less than one academic session.

This also certify that this project work is the result of the candidate’s own work
and is of sufficiently high standard to warrant its presentation for the BBA
program.

To the best of my knowledge this project or its part has not been submitted to this
university or any other university for any Degree/Diploma.

Guide Name: Dr. Raghvendra Mishra

Internal Examiner External Examiner

Place: Nagpur

Date: Director

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 ACKNOWLEDGEMENT

“Words have never expressed human sentiments. This is only an attempt to express
my deep gratitude which comes from my heart.”

It is a great pleasure for me to express my deep feeling of gratitude to my respected

guide Dr. Raghvendra Mishra (Assistant Professor, DAIMSR) for her great
encouragement and constant support which provided desired moral and confidence
to carry on my work.

I am grateful to the Dr. Sudhir Fulzele, Director, Dr. Ambedkar Institute of

Management Studies & Research, Nagpur for making all facilities available for my
work.

I am grateful to the Dr. Nirzar Kulkarni, Associate Director, Dr. Ambedkar

Institute of Management Studies & Research, Nagpur for making all facilities
available for my work.

I am grateful to my parents for their lovable support. Last but not least I am
thankful to my friends and other faculty members for their direct and indirect help
for completion of this work.

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 DECLARATION

I, Dnyaneshwar Barapatre hereby declare that the project entitled

“Study on financial services by Bank of Maharashtra ” is the outcome
of my own research work based on personal study during academic
session 2022-2023 and has not been submitted previously for award of
any degree or diploma to this university or any other university.

Dnyaneshwar Barapatre

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 CHAPTERAISATION

Chapter Particulars Page

no. Number

1. Executive Summary 6

2. Introduction 7-17

3. Company profile 18-30

4. Research Methodology and data collection 31-39

5. Data Analysis and Interpretation 40-52

6. Findings and conclusion 53

7. Limitations and suggestions 54

8. Bibliography 55

9. Annexure 56-58

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 CHAPTER 1
EXECUTIVE SUMMARY

The economy is made up of many different segments called sector. These sectors are
comprised of different businesses that provide goods and services to consumers. The
variety of services offered by lending institutions, brokerage firms, and other
businesses are collectively referred to as the financial services sector.

With the goal of easily reaching its most socioeconomically marginalised citizens, India
has been innovating in the financial services sector. However, when the target market
has trouble using these services, they struggle with inadequate consumer protection
and dispute resolution procedures (GRMs). Their acceptance of new ideas is
hampered by these experiences, which also raise their doubt.

The main objective of the research is to define the financial services provided by Bank
of Maharashtra and the significance of such services. The research's main objective is
to define the financial services provided by Bank of Maharashtra and the importance of
the support provided. Financial services, for instance, are an effective tool for raising
money in an economy. For individuals, investors, businesses, and institutions to invest
in and raise money from, it offers a variety of financial instruments. These services
offer various types of practical investment options that can increase people's savings.
The proper allocation of financial resources to advantageous uses is made possible by
financial services. Financial services have a crucial role to play in risk minimization.
The government uses financial services to increase the economy's overall growth.

For this research study to be as effective as possible, the methodologies of surveys

and individual interviews have been chosen.

It may be concluded from this study report that most people are well-informed about
financial services. India is becoming one of the top nations, thus it's a better sign for
the country's future.

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 CHAPTER 2
INTRODUCTION

Financial services are the economic services provided by the finance industry, which
encompasses a broad range of businesses that manage money, including credit
unions, banks, credit-card companies, insurance companies, accountancy companies,
consumer-finance companies, stock brokerages, investment funds, individual
managers and some government-sponsored enterprises. Financial services companies
are present in all economically developed geographic locations and tend to cluster in
local, national, regional and international financial centers such as Mumbai, Delhi,
Kolkata.

India has a diversified financial sector that is rapidly growing due to both the strong
growth of already-existing financial services firms and the entry of new entities.
Commercial banks, insurance firms, non-banking financial institutions, co-ops, pension
funds, mutual funds, and other smaller financial organisations make up the sector. The
banking regulator recently permitted the creation of new organisations, like payment
banks, expanding the variety of organisations operating in the market. However,
commercial banks account for more than 64% of the total assets held by the financial
system in India, where the financial sector is primarily a banking sector.

The Indian government has implemented a number of reforms to liberalise, control, and
develop this sector. The government and Reserve Bank of India (RBI) have made a
number of steps to make it easier for micro, small, and medium-sized businesses to
receive financing (MSMEs). These actions include establishing a Micro Units
Development and Refinancing Agency, introducing the Credit Guarantee Fund Scheme
for MSMEs, and offering instructions to banks regarding collateral requirements
(MUDRA). India's capital market is clearly one of the most active in the world because
to the combined efforts of the public and private sectors.

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The financial services sector in India has grown significantly over the last few years. It
is anticipated that this momentum will last.  Wealth management in India has
tremendous potential. By 2025, India is anticipated to have 6.11 lakh HNWIs. By 2028,
India will rank as the fourth-largest private wealth market in the world as a result of this.

History of financial services in India

 “Well developed and efficient Financial System for any economy is like the blood
circulation system of the human body.” It is vital for capital formation, wealth
generation, and distribution in any economy, just like blood circulation is crucial
for the body’s growth and survival. As an ancient civilization, the Indian
subcontinent always had some rudimentary form of the functioning financial
system. This early age financial system supported world GDP contribution as
high as 32% in history. However, as the arrow of time moved, fragmented Indian
subcontinent lost pace with the world in terms of socio-economic development.
 After “Independence” political leadership favored socialist ideals and undertook
an approach of planned economic development. This approach needed the
distribution of financial resources under government control. This need for control
resulted in the public ownership of financial institutions starting with the Reserve
Bank of India (established: 1935 Nationalized: 1949). In the year 1956, the
“Imperial Bank” became the “State Bank of India”.  This era also witnessed the
establishment of government-controlled new institutions, like “Unit Trust of India”
(1964) which gave birth to the Mutual Fund industry in the country. Government
controlled the insurance industry and the establishment of “General Insurance
Corporation” (GIC) in the year 1972 strengthen this grip.
 Indian Financial System hit with a wave of transformation after the BOP crisis of
1991 and consequent liberalization of the economy. Post-1991 Indian political
leadership embraced the ideals of a liberal market economy. This adoption of the
market lead approach started reduction in state control over the financial system.

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  The post-1991 era transformed the Indian Financial System with a newer type of
organizational infrastructure like Credit Rating Agencies, Technical
Consultancies, Custodian Service Providers, portfolio managers, Foreign
Institutional Investors brought much needed dynamism in the economy.

 Today resurgent India has a fairly evolved and complex financial system. Though
we as a country have wasted a significant amount of time to reach this stage. We
are still struggling to get rid of the hangover of the socialist era. I am still
confident that if the Indian Financial System gains strengths and made efficient,
our country can achieve the aim of “prosperity for all”.

Functions of Financial Services:

Financial services, through the network of financial institutions, financial markets and
financial instruments serve the needs of individuals, institutions and corporate.

In essence, orderly functioning of the financial system depends to a great deal, on the
range and the quality of financial services extended by the financial intermediaries.
Specifically financial services perform following functions for the orderly development of
an economy.

 Mobilization of funds: A financial service helps in mobilizing fund from

investors, individual, institutions and corporate entities. These funds are
mobilized through different financial instruments like equity shares, bonds, mutual
funds etc.

 Effective utilization of funds: These financial services also help in effective

utilization of mobilized funds. Financial services helps in this regard through
services like factoring, securitization, credit rating etc. Services of Credit Rating
Company enables investors to make wise and informed decisions related to
investment. Similarly merchant banking services helps companies in mergers

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 and acquisitions.

 Transforming risk: Financial services like insurance helps in reduction of risk by

transferring risk to those who are more willing to bear it.

 Enhancement of economic development: A financial service helps in

economic development of the country by mobilization and deployment of funds.
Ideal savings of individuals are channelized into productive investment through
financial services.

 Provision of liquidity: The financial service industry promotes liquidity in the

financial system by allocating and reallocating savings and investment into
various avenues of economic activity. It facilitates easy conversion of financial
assets into liquid cash.

 Creation of employment opportunities: The financial service industry creates

and provides employment opportunities to millions of people all over the world.

Types of Financial Services:

 Commercial banking services:
What is often referred to as a "bank" is actually a "commercial bank." The term
"commercial" is used to distinguish it from an "investment bank," a category of
financial services organisation that assists businesses in raising money rather
than lending money to them directly from other businesses in the form of stocks
or bonds (debt) (equity).

Primary Functions of Commercial Banks are:

 Customers can deposit money with commercial banks through a variety

of programmes, including fixed deposits, term deposits, savings account

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 deposits, and recurring account deposits. The consumers will receive
interest on their deposits.
 The customers of commercial banks are provided with loans and
advances services including money-at-call, overdraft access, bill
discounting, cash credit, and many more.
 Commercial banks offer unsecured loans like corporate bonds, credit card
debt, lines of credit, personal loans, etc. in addition to secured loans like
mortgage loans and loans against savings accounts.
 Commercial bank also generate credit creation by technique, when
disbursing loan to a customer. Banks instead of providing loan in cash
they request customer to open a deposit account from where borrower
can withdraw funds this is known as reverse engineering of creating
deposits known as a credit creation.

Secondary Functions of Commercial Banks are:

 Commercial bank encourage customers with advisory, broking and agency

services like: collecting cheques, recurring payments for rent, insurance
premium, etc; dealing with foreign exchange transactions, buying and
selling of securities, filling tax returns, etc where bank charges commission
for the services.
 Commercial bank provide utility services which includes providing safety
locker, issuing travel cheques, money transfer facilities, provide gateway
for bill payment of phone, gas, water, etc; provide paper money by way of
issuing credit cards, debit cards, etc and bank either offer free or nominal
charges for the services.

 Investment banking services

Capital markets services - underwriting debt and equity, assist company deals
(advisory services, underwriting, mergers and acquisitions and advisory fees),
and restructure debt into structured finance products.

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 Private banking - Private Banks provide banking services exclusively to high-
net-worth individuals. Many financial services firms require a person or family to
have a certain minimum net worth to qualify for private banking services. Private
banks often provide more personal services, such as wealth management and
tax planning, than normal retail banks.

Brokerage services - facilitating the buying and selling of financial securities

between a buyer and a seller.

 Foreign exchange services

Foreign exchange services are provided by many banks and specialist foreign
exchange brokers around the world. Foreign exchange services include:

Currency exchange - where clients can purchase and sell foreign currency
banknotes.

Wire transfer - where clients can send funds to international banks abroad.

Remittance - where client that are migrant workers send money back to their
home country.

 Investment Services
Asset management - the term usually given to describe companies which
run collective investment funds. Also refers to services provided by others,
generally registered with the Securities and Exchange Commission as
Registered Investment Advisors. Investment banking financial services focus on
creating capital through client investments.

Hedge fund management - Hedge funds often employ the services of "prime
Brokerage" divisions at major investment banks to execute their trades
.

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 Custody services - the safe-keeping and processing of the world's securities
trades and servicing the associated portfolios. Assets under custody in the world
are approximately US$100 trillion.

 Insurance
Insurance brokerage - Insurance brokers shop for insurance (generally corporate
property and casualty insurance) on behalf of customers. Recently a number of
websites have been created to give consumers basic price comparisons for
services such as insurance, causing controversy within the industry.

Insurance underwriting - Personal lines insurance underwriters actually

underwrite insurance for individuals, a service still offered primarily through agents,
insurance brokers, and stock brokers. Underwriters may also offer similar
commercial lines of coverage for businesses. Activities include insurance and
annuities, life insurance, retirement insurance, health insurance, and property &
casualty insurance.

Reinsurance - Reinsurance is insurance sold to insurers themselves, to protect

them from catastrophic losses.

 Other Financial Services

Bank cards - include both credit cards and debit cards. Bank Of America is the
largest issuer of bank cards.

Credit card machine services and networks - Companies which provide credit
card machine and payment networks call themselves "merchant card providers".

Intermediation or advisory services - These services involve stock brokers

(private client services) and discount brokers. Stock brokers assist investors in
buying or selling shares. Primarily internet-based companies are often referred to
as discount brokerages, although many now have branch offices to assist clients.

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These brokerages primarily target individual investors. Full service and private
client firms primarily assist and execute trades for clients with large amounts of
capital to invest, such as large companies, wealthy individuals, and investment
management funds.

Private equity - Private equity funds are typically closed-end funds, which usually
take controlling equity stakes in businesses that are either private, or taken private
once acquired. Private equity funds often use leveraged buyouts (LBOs) to acquire
the firms in which they invest. The most successful private equity funds can
generate returns significantly higher than provided by the equity markets.

Venture capital is a type of private equity capital typically provided by

professional, outside investors to new, high-potential-growth companies in the
interest of taking the company to an IPO or trade sale of the business.

Angel investment - An angel investor or angel (known as a business angel or

informal investor in Europe), is an affluent individual who provides capital for a
business start-up, usually in exchange for convertible debt or ownership equity. A
small but increasing number of angel investors organize themselves into angel
groups or angel networks to share research and pool their investment capital.

Conglomerates - A financial services company such as a universal bank that is

active in more than one sector of the financial services market e.g. life insurance,
general insurance, health insurance, asset management, retail banking, wholesale
banking, investment banking, etc. A key rationale for the existence of such
businesses is the existence of diversification benefits that are present when
different types of businesses are aggregated i.e. bad things don't always happen
at the same time. As a consequence, economic capital for a conglomerate is
usually substantially less than economic capital is for the sum of its parts.

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 Financial market utilities - Organisations that are part of the infrastructure of
financial services, such as stock exchanges, clearing houses, derivative and
commodity exchanges and payment systems such as real-time gross settlement
systems or interbank networks.

Debt resolution is a consumer service that assists individuals that have too much
debt to pay off as requested, but do not want to file bankruptcy and wish to pay off
their debts owed. This debt can be accrued in various ways including but not
limited to personal loans, credit cards or in some cases merchant accounts.

Financial services refer to services provided by the banks and financial institutions

in a financial system.
In general, all types of activities which are of financial nature may be regarded as
financial services. In a broad sense, the term financial services mean mobilisation
and allocation of savings. Thus, it includes all activities involved in the
transformation of savings into investment.

The finance industry covers a broad range of organizations that deal with
management of inflow and outflows of funds in an economy. Among these
organizations are Asset Management Companies like leasing companies,
merchant bankers and Liability Management Companies like discounting houses
and acceptance houses, and further general financial institutions like banks, credit
card companies, insurance companies, consumer finance companies, stock
exchanges, and some government sponsored enterprises.

Following are some of the examples of financial services:

 Mutual Fund management
 Leasing, credit card services, factoring, portfolio management and financial
consultancy services
 Underwriting, discounting and rediscounting of bills
 Acceptances, brokerage and stock holding
 Depository services, housing finance and book building

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  Hire purchases and instalment credit
 Insurance
 Financial and performance guarantees
 Loan syndicating and credit rating

Challenges of Financial Services:

Financial service in India is industry characterized by increasingly vibrant public and

private-sector institutions. A large number of banks and non-banking finance companies
(NBFC) are providing a variety of financial services to both individual and institutional
clients.

Therefore, the financial service industry will be facing a new, demanding competitive
map, which will create challenges for financial service providers in India.

Angel Cano (2010) has identified following challenges to financial service

industry in India:
 Markets are segmented in unconventional ways: The classical financial
services segments are affinities such as chartered accountants, Independent
Financial Analysts or insurance agents. These are not the most effective
groupings in India because the linkages between communities, localities and
religious sects are often stronger than those between occupations.

 Changes in society and relationship patterns: Deep changes in

consumer preferences will determine how financial institutions reach out to
their customers and relate to them. This will mean evolving towards a more
efficient, more productive distribution model.

 The talent pool is shallow and itinerant: Most financial services

businesses require high quality, intelligent people. These are hard to find and
already work in high paying multinationals. It is common to have 100% attrition

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 which means that the sales force gets replaced each year. In such
circumstances how can one build sustainable institutional capabilities?

 Tougher regulatory and oversight standards will materialize as

increased capital, liquidity and provisioning requirements and more stringent
consumer protection. The main consequence will be greater pressure on
banks’ returns, forcing them to being more selective in allocating scarce
resources, in particular, capital, which will become increasingly scarce.

Financial services help put money to productive use. Instead of stashing money
under their mattresses, consumers can give their savings to intermediaries who might
invest them in the next great technology or allow someone to buy a house. The
mechanisms that intermediate these flows can be complicated, and most countries
rely on regulation to protect borrowers and lenders and help preserve the trust that
underpins all financial services.
Financial services are crucial to the functioning of an economy. Without them,
individuals with money to save might have trouble finding those who need to borrow,
and vice versa. And without financial services, people would be so intent on saving to
cover risk that they might not buy very many goods and services. Moreover, even
relatively simple financial goods can be complex, and there are often long lags
between the purchase of a service and the date the provider has to deliver the
service. The market for services depends a great deal on trust. Customers (both
savers and borrowers) must have confidence in the advice and information they are
receiving.

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 CHAPTER 3
COMPANY PROFILE

Bank Of Maharashtra is a major bank of Maharashtra, India, registered on 16

September 1935 with an authorised capital of 1 million. It commenced business
on 8 February 1936. Known as a common man's bank since its inception, the
bank's initial financial assistance to small units has given birth to many of today's
industrial houses. After nationalisation in 1969, the bank expanded rapidly. The
Bank has the largest network of branches by any Public sector bank in the state
of Maharashtra.

The Bank was founded by a group of visionaries led by the late V. G. Kale and
the late D. K. Sathe and registered as a Banking Company on 16 September
1935 at Pune. Today, Bank of Maharashtra has over 15 million customers across
the length and breadth of the country served through 1825 branches in 29 states
and 2 union territories.

The Bank attained autonomous status in 1998. As a result, the bank has limited
interference of Government bureaucracy in its decision making process and
internal affairs. Bank is the convener of the State Level Bankers Committee.
Bank offers Depository services and Demat facilities at 131 branches. Bank has
a tie up with LIC of India and United India Insurance Company for sale of
Insurance policies. Bank has achieved 100% CBS enabling anytime anywhere
banking to its customers

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 Board of Directors

Name Designation

Shri A S Rajeev Managing Director & Chief Executive

Officer
Shri. A.B. Vijayakumar Executive Director

Shri Asheesh Pandey Executive Director

Shri Prashant Kumar Goyal Government Nominee Director

Shri M.K. Verma RBI Nominee Director

Shri Rakesh Kumar Shareholder Director

Shri Shashank Shrivastava Part-time non-official Director

Shri Sardar Baljit Singh Part-time non-official Director

Vision
To be a vibrant, forward looking, techno-savvy, customer centric bank serving
diverse sections of the society, enhancing shareholders’ and employees’ value
while moving towards global presence.

Mission
 To ensure quick and efficient response to customer expectations.

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  To innovate products and services to cater to diverse sections of society.
To adopt latest technology on a continuous basis.
 To build proactive, professional and involved workforce.
 To enhance the shareholders’ wealth through best practices and corporate
governance.
 To enter international arena through branch network.

 To be a vibrant, forward looking, techno-savvy, customer centric bank

serving diverse sections of the society, enhancing shareholders' and
employees' value while moving towards global presence.

Corporate Social Responsibility (CSR)

 Pune, 28th July, 2021: Bank of Maharashtra (BOM), a premier public

sector bank in the country has reached out in support to the people
affected by the flood at Mahad in Raigad district of Maharashtra with relief
materials.
 Pune, 17th April, 2020: Employees of Bank of Maharashtra contributed
and donated Rs. 5.00 Crore (Rs. Five Crore) to the PM-CARES Fund in
fighting COVID-19 caused by Novel Corona Virus, the pandemic faced by
the world at present.
 Pune, 113 December, 2019: Employees of Bank of Maharashtra
contributed one-day salary towards Maharashtra Chief Minister's Relief
Fund at Mantralaya, Mumbai. Shri V N Kamble. General Manager & Zonal
Manager, Mumbai Zone, Bank of Maharashtra handed over the cheque of
Rs. 2,35,00,000/- (Rs. Two Crore Thirty-Five Lakh Only) to Hon'ble Chief
Minister of Maharashtra State, Shri Uddhav Thackeray.
 15 August 2019: School children from Pune Vidyarthi Gruh, an orphanage
in Pune were the special invitees to this 73rd Independence Day
celebrations. School bags, bathing kit, writing material and other gifts were

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 distributed to the children of Pune Vidyarthi Gruh at the hands of Hon'ble
MD & CEO Shri A S Rajeev Sir.

Awards and Achievement

 Bank of Maharashtra won the Best Public Sector Bank (other than large)
Award at National level by State Forum of Bankers Club, Kerala.
 Bank of Maharashtra won the Best Bank in India Award under Mid-Sized
Banks Category.
 Bank of Maharashtra awarded as 'Achievers' in 'DSB Lakshya Campaign'.
 Bank of Maharashtra has been honoured with EASE 2nd Runner up Award
 Bank of Maharashtra received Best Nationalized Bank in Agriculture
Finance award.
 Bank of Maharashtra has been awarded Kirti Puraskar for the year 2021-22.
 Bank of Maharashtra bags the 'Agri Infra Fund Award' under 'Target
Achievers Category'.
 Awards of Outstanding performance in SHG credit linkage for FY 2021-22

Services Offered by Bank

 Saving Account
A savings account is a bank account at a retail bank. Common features
include a limited number of withdrawals, a lack of cheque and linked debit
card facilities, limited transfer options and the inability to be overdrawn.

 Current Account
Current bank accounts are very popular among companies, firms, public
enterprises, businessmen who generally have higher numbers of regular
transactions with the bank. The current account includes deposits,

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 withdrawals, and contra transactions. Such accounts are also called the
Demand Deposit Account.

 Term Deposit
A term deposit is a type of deposit account held at a financial institution
where money is locked up for some set period of time. Term deposits are
usually short-term deposits with maturities ranging from one month to a few
years.

 Capital Gain Account Scheme

The Capital Gain Account Scheme is a beneficial tax-saving scheme that
allows taxpayers to reduce their tax burden on capital gains. By depositing
the capital gains in a separate account, taxpayers can claim a tax exemption
on the deposited amount, and also earn a higher interest rate on the
deposited amount. The scheme also offers flexibility in terms of deposit and
withdrawal options, making it a popular choice among taxpayers.

 Maha Super Housing Loan

A Bank of Maharashtra home loan provides numerous benefits such as
facility to apply online, quick loan processing, attractive interest rates,
customized repayment options and simple & hassle-free documentation.

 Maha Super Flexi Housing Loan Scheme

In this Home loan scheme, the borrowers’ account is linked to a dedicated
savings account. So, when a borrower deposits the surplus money to the
account, it will be considered credit towards the loan, thus reducing the
interest on the outstanding loan amount.

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 Maha Super Car loan
Purchase of New four Wheeler i.e. Car, Jeep, Multi Utility Vehicles (MUVs),
SUV etc. for personal use. (i.e. not for hiring/ferrying passengers) for
individuals (18 years and above)/ Companies and Corporate entities.

 Maha Combo Loan Scheme

Maha Combo Loan Scheme for House and Car taken together.

 Pradhan Mantri Awas Yojana

Pradhan Mantri Awas Yojana is an initiative by the Government of India in
which affordable housing will be provided to the urban poor with a target of
building 2 crore affordable houses.

 Mahabank Vehicle Loan Scheme

Bank of Maharashtra offers loan for purchasing two wheeler and second
hand car.

 TopUp Loan for Home loan borrowers

Maha bank top up loan for repair, renovation, extension or furnishing.

 Education Loan Scheme

Education loans help students pay not only academic fees but also non-
academic expenses during their studies. The provision of student loan, like
any other loan, comes on the payment terms of an interest amount over the
originally borrowed money.

 Maha Gold Loan Scheme

The gold loan, also referred as a loan against gold, is a secured loan that a
borrower takes from a lender in lieu of gold ornaments such as gold
jewellery.

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 Consumer Loan Scheme
Consumer Durable loan Loan for consumer durables is a scheme that helps
you upgrade your lifestyle by offering finance for the purchase of household
durables such as laptop, television set, washing machine, music system, air
conditioner, heater, fridge, fitness equipment, and more.

 Mahabank Personal Loan Scheme

Mahabank Personal Loan scheme is to cater to the requirements of meeting
personal expenses.

 Salary Gain Scheme

Salary Gain Scheme, a personal loan overdraft facility, for the employees
of Central or State Government, PSUs and reputed corporates.

 Loan Against Property

A loan against property (LAP) is a secured loan that is sanctioned against
the asset pledged as collateral. This asset can either be an owned land, a
house, or any other commercial premises. The asset remains as collateral
with the lender until the entire loan against property amount is repaid.

 Mahabank Green Financing Scheme

Green banking is a category of banking practices considering all the social
and ecological factors with an aim to defend the environment and preserve
natural resources. It is also called as ethical banking or sustainable banking.
Seeing the importance of this across the globe, Bank has introduced
Schemes namely 'Mahabank Green Financing Scheme', which includes
following products for Retail borrowers.
Maha Super Green Housing Loan Scheme- Green Building

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 Maha Super Green Car Loan Scheme- Electric Car

 Internet Banking
Bank of Maharashtra is offering the following services through Internet
Banking and you can avail these facilities from your place using Internet
connectivity, It’s banking made available at your doorsteps.

 Maha Mobile
Experience banking at your fingertips with the MahaMobile App. Activate it on
your mobile today to view your banking transactions, do instant money
transfer to your loved ones, and pay your bill in time from anywhere, anytime.

 Maha UPI
Unified Payment Interface (UPI) is a quick and easy way to send and receive
money using Virtual Payment Address without entering additional bank
information.

 Personal Digital Banking

It means availability of all banking activities online. Digital Banking gives you
the luxury of freely accessing and performing all traditional banking activities
24*7 without having to personally go to a bank branch to get your work done.

 Debit card
A debit card, also known as a check card or bank card is a payment card that
can be used in place of cash to make purchases. The term plastic card
includes the above and as an identity document.

 BOM credit card

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 A credit card is a payment card issued to users to enable the cardholder to
pay a merchant for goods and services based on the cardholder's accrued
debt.

 Bharat Bill payment services

Bharat Bill Payment System (BBPS) is a system which offers integrated,
accessible and interoperable bill payment services to consumers across
geographies with certainty, reliability and safety of transactions.

 BHIM Aadhaar pay

Aadhaar payment is the easiest and cheapest method of payment. Citizen of
India who carries Aadhaar number can use this payment method. Around 43
crore accounts of Indian people are linked with the Aadhaar; and they can
use this Aadhaar enabled payment mode.

 NETC-Fastag Program
National Electronic Toll Collection (NETC) Program based on RFID
technology has introduced electronic toll payments at all National Toll
[Link]-FASTag is a device that employs Radio Frequency
Identification (RFID) technology for making toll payments directly while the
vehicle is in motion. 

 Whatsapp Banking
Bank has introduced “WhatsApp Banking” services as an additional service
delivery channel towards convenience for the customers. The services can
also be availed by Bank’s non-customers. With WhatsApp Banking, Bank can
power its customer services delivery with real-time Account Balance enquiry,
Mini-Statement, Cheque book request, enquiry of cheque status, locate
Bank’s ATMs and Branches, Opt-In, Opt-Out, Contact us information etc.

26
 Pradhan Mantri Jan Dhan Yojana
Pradhan Mantri Jan Dhan Yojana is a financial inclusion program of the
Government of India open to Indian citizens (minors of age 10 and older can
also open an account with a guardian to manage it), that aims to expand
affordable access to financial services such as bank accounts, remittances,
credit, insurance, and pensions.

 Pradhan Mantri Jeevan Jyoti Bima Yojana

The PMJJBY is available to people in the age group of 18 to 50 years having
a bank account who give their consent to join / enable auto-debit. Aadhar
would be the primary KYC for the bank account. The life cover of Rs. 2 lakhs
shall be for the one year period stretching from 1st June to 31st May and will
be renewable.

 Prime Minister Suraksha Bima Yojana

Pradhan Mantri Suraksha Bima Yojana is a government-backed accident
insurance scheme in India. The Scheme is available to people in the age
group 18 to 70 years with a bank account who give their consent to join /
enable auto-debit on or before 31st May for the coverage period 1st June to
31st May on an annual renewal basis.

 Sovereign Gold Bond Scheme

A Sovereign Gold Bond is a government security which denominated in gold
grams. Sovereign Gold Bond Scheme was launched by Government in
November 2015. It is a substitute for physical gold. Investors invest in these
bonds when the scheme opens and it is redeemed on maturity. The Reserve
Bank of India on behalf of the Government of India manages the sovereign
gold bond scheme.

 Public provident fund Scheme

27
 Public Provident Fund Scheme 1968 (PPF account) can be opened at all
branches of Bank of Maharashtra. Public Provident Fund (PPF) account is
one of the most popular long term investment options for individuals with low-
risk appetite as both the money in the PPF account and the returns it
generates are guaranteed.

 National Pension System

The National Pension System (NPS) was launched on 1st January, 2004 with
the objective of providing retirement income to all the citizens.

 Atal Pension Yojana

It is a fixed pension scheme introduced by Government of India. The
minimum age of joining APY is 18 years and maximum age is 40 years. All
saving account holders of the Bank under the eligible category may join APY
with auto-debit facility to account.

 Sukanya Samriddhi Yojana

Sukanya Samriddhi Yojana has been introduced in Bank of Maharashtra with
effect from December 02, 2014. The objective is to promote the welfare of
Girl Child.

 Floating Rate Savings Bonds

Government of India has announced to launch Floating Rate Savings Bonds,
2020 (Taxable) scheme commencing from July 01, 2020. The Bonds are
open to investment by individuals (including Joint Holdings) and Hindu
Undivided Families. NRIs are not eligible for making investments in these
Bonds.

 Mahabank Kisan All Purpose Term Loan

28
 To create hassle free single term loan limit to farmer for all term loan
requirements excluding development projects with long gestation periods
(more than 3-4 years).

 Mahabank Gold Loan Scheme - Agriculture

To enable farmer to quickly meet their agricultural credit needs i.e both crop
production / cash credit for allied agricultural activities & investment credit.

 Scheme for construction of farmhouse to Agriculturists

Construction of farmhouse on agricultural land to facilitate farmers to have
dwelling unit at farm which may also take care of other requirement such as
storage of agriculture produce & farm implements, cattle shed, drying yard
etc. for effective supervision and farm management.

Financial Results

Quarter 31st Dec 2022 vis a vis Quarter 31st Dec 2021

 Total Business grew by 15.77% to ₹ 365,398 crore.

 Total Deposits up by 11.69% to ₹ 208436 crore.
 Gross Advances increased by 21.67% to ₹ 156,962 crore.
 Credit - Deposit (CD) Ratio improved to 75.30%.
 Gross NPA declined to 2.94% as on 31.12.2022.
 Net NPA reduced to 0.47% as on 31.12.2022.
 Provision Coverage Ratio improved to 97.18%.
 Net Profit up by 138.76% to ₹ 775.03 crore as on 31.12.2022
 Operating profit grew by 35.94% to Rs. 1580 crore .
 Net Interest Income increased by 29.65% to Rs. 1980 crore.
 Net Interest Margin (NIM) improved to 3.60% as on
31.12.2022.
 Cost to Income Ratio improved to 39.69%.
 Return on Assets (ROA) improved to 1.30% for Q3 FY23.
29
  Return on Equity (ROE) improved to 24.41%.
 CRAR improved to 17.53% of which Tier I is 13.47%

Profitability ( Rs. in crore)

Top line Business ( Rs. in crore)

Balance Sheet ( Rs. in

crore)

30
 CHAPTER 4
RESEARCH METHODOLOGY AND DATA
COLLECTION

Financial services refer to the products and services offered by institutions like banks of
various kinds for the facilitation of various financial transactions and other related
activities in the world of finance like loans, insurance, credit cards, investment
opportunities and money management as well as providing information on the same.

Bank of Maharashtra is a public sector bank in India that offers a wide range of financial
services such as loans, deposits, cards, investment, banking, NRI and MSME2.
Recently, Bank of Maharashtra has entered into a strategic co-lending partnership with
31
MAS Financial Services to offer loans to MSME borrowers under priority sector3. Bank
of Maharashtra has also launched doorstep banking services (DSBs) at 100 centres
through its 555 branches across India.

Objectives

 To fully understand the concept of financial services and the way they might be

used in Bank of Maharashtra.

 To evaluate the future prospects of Financial Services in Bank of Maharashtra.

 To find out the benefits of Financial Services to the bank & customers.

 To study the various types of financial services by Bank of Maharashtra.

 To study & research the views of customers towards the financial services

provided by Bank of Maharashtra.

Research Process

Research is a matter of gathering information from varying sources usually in

relation to a specific topic and for a specific purpose. The definition of research
includes any gathering of data, information and facts for the advancement of
knowledge.

Research includes a systematized procedure that emphases on being objective

and gathering a multitude of information for analysis so that the researcher can
come to a conclusion. This procedure is used in all research and evaluation
projects, irrespective of the research technique. The procedure focuses on testing
ideas in a park and regeneration setting through a systematic procedure.

32
Research Process involves identifying, locating, assessing, and analyzing the
information you need to support your research question, and then developing and
expressing your ideas. These are the same skills you need any time you write a
report, proposal, or put together a presentation.

The steps in the research process are as follows:

 Define the research problem

Finding the biggest obstacles or issues the Bank of Maharashtra has in

providing financial services is necessary for the project report to be
accurate. The Bank of Maharashtra's main issues are: 
 Providing consistent customer experiences.
Customers are looking for an integrated experience, or a “one-stop-
shop”, for all of their banking needs. While the financial industry has
already migrated to online banking and digital experiences, keeping
up with growing customer expectations will continue to be a
challenge.

 Remaining competitive in the fintech era.

Bank of Maharashtra is using data and technology to provide
financial services in novel ways, raising the stakes for big financial
institutions.
 Maintaining a technological edge.
Implementing the latest technology is key to meeting business goals
and ties into both of the previously mentioned challenges – unifying
the customer experience and staying competitive with other banks. 
 Breaches of data and cyber security.
Data breaches continue to be a concern in the financial services
industry. Financial services are a prime target for cybercrime due to
the sensitive nature of their data. With the increase of transactions
33
 and communications online, security and risk mitigation have been
key areas of focus.

 Finding Solutions for the problem faced by Bank of Maharashtra

The new challenges from the past year, and the ongoing ones headed into
2023, can be tackled with innovative and holistic solutions. There are many
opportunities to meet these challenges and improve financial services and
outcomes.
In order to optimize the customer journey, Banks not only need to invest in the
right technology, but they also need to put the customer experience at the
forefront of their operations. It’s common knowledge by now that good customer
service is an important factor in repeat business. So much so that in a space
like financial services it’s now considered a key competitive differentiator.
According to a McKinsey study, “Banks with the highest degree of reported
customer satisfaction see deposits grow 84 percent faster than at banks with
the lowest satisfaction ratings.” 

 Research Design

By the term ‘research‘, we can understand that it’s a collection of data that
includes critical information by taking research methodologies into
consideration. In other words, it is a compilation of information or data explored
by setting a hypothesis and consequently coming up with substantive findings in
an organised way. Research can be done on an academic as well as on a
scientific basis as well.

A Research Design is simply a structural framework of various research

methods as well as techniques that are utilised by a researcher.

34
The research design helps a researcher to pursue their journey into the
unknown but with a systematic approach by their side. 

Here, the research design is used to have a clear understanding of how the
project report can be implemented.

Quantitative research design is used for collecting data from a set of panel or
respondents because Quantitative research designs tend to be more fixed
and deductive, with variables and hypotheses clearly defined in advance of data
collection.
Quantitative research is a systematic investigation of phenomena by gathering
quantifiable data and performing statistical, mathematical, or computational
techniques. One of the main characteristics of this type of research is that the
results can be depicted in numerical form. After a careful understanding of
these numbers, it’s possible to predict the future of a product or service and
make changes accordingly.

Quantitative research has several unique characteristics that make it well-suited

for specific types of projects.

There are many advantages of quantitative research. Some of the major

advantages of why I have used this method in project report is:

 Collect reliable and accurate data: As data is collected, analyzed, and

presented in numbers, the results obtained will be extremely reliable.
Numbers do not lie. They offer an honest picture of the conducted research
without discrepancies and are also extremely accurate. In situations where a
researcher predicts conflict, quantitative research is conducted.
 Quick data collection: Quantitative research involves studying a group of
people representing a larger population. A survey or another quantitative
research method is used to gather information from these participants. The

35
 process of analyzing the data and finding patterns is made easier and faster
through the use of statistics.
 Wider scope of data analysis: Due to the statistics, this research method
provides a wide scope of data collection.
 Eliminate bias: This research method offers no scope for personal
comments or biasing of results. The results achieved are numerical and thus
fair in most cases.

There are multiple types of primary quantitative research. The one type of

quantitative research used in this project report is survey Research.

Survey Research is fundamental for all quantitative outcome research

methodologies and studies. Surveys are used to ask questions to a sample of
respondents, using various types such as online polls, online surveys, paper
questionnaires, web-intercept surveys, etc. By conducting survey research, we
can ask multiple survey questions, collect data from a pool of customers, and
analyze this collected data to produce numerical results. It is the first step
towards collecting data for any research.

Traditionally, survey research was conducted face-to-face or via phone calls.

Still, with the progress made by online mediums such as email or social media,
survey research has also spread to online mediums .

 Data Collection

Data collection is a systematic process of gathering observations or

measurements. Whether you are performing research for business,
governmental or academic purposes, data collection allows you to gain first-
hand knowledge and original insights into your research problem.

36
While methods and aims may differ between fields, the overall process of data
collection remains largely the same. Before you begin collecting data, you
need to consider:

 The aim of the research

 The type of data that you will collect
 The methods and procedures you will use to collect, store, and process the
data

The process of gathering and analyzing accurate data from various sources to
find answers to research problems, trends and probabilities, etc., to evaluate
possible outcomes is Known as Data Collection.

There are many ways to collect information when doing research. The data
collection methods that the researcher chooses will depend on the research
question posed. Some data collection methods include surveys, interviews,
tests, physiological evaluations, observations, reviews of existing records, and
biological samples.

Data collection breaks down into two methods. As a side note, many terms,
such as techniques, methods, and types, are interchangeable and depending
on who uses them. One source may call data collection techniques “methods,”
for instance. But whatever labels we use, the general concepts and
breakdowns apply across the board whether we’re talking about marketing
analysis or a scientific research project.

The two data collection methods are:

Primary Data Collection Method:

As the name implies, this is original, first-hand data collected by the data
researchers. This process is the initial information gathering step, performed
before anyone carries out any further or related research. Primary data results
are highly accurate provided the researcher collects the information.
37
Primary data collection is the process of collecting data from a live source, such
as a human being. The goal of primary data collection is to collect data that is
as accurate and complete as possible. This data can be used to improve the
quality of life for people and the environment. Quantitative primary data
collection is good for measuring how people are using your product or service,
but it doesn’t allow you to understand their thoughts and feelings very well.
Mixed mode primary data collection combines elements of both qualitative and
quantitative methods; this makes it easier to get valuable insights without
sacrificing accuracy.
The primary data are data, which are being collected by the researcher for the
specific purpose of answering the problem on hand.

Primary data is collected through:

 Discussion with the bank manager and bank employees.
 Filling up of the questionnaire from the random people.

Secondary Data Collection Method:

Secondary data is second-hand data collected by other parties and already
having undergone statistical analysis. This data is either information that the
researcher has tasked other people to collect or information the researcher has
looked up. Simply put, it’s second-hand information. Although it’s easier and
cheaper to obtain than primary information, secondary information raises
concerns regarding accuracy and authenticity. Quantitative data makes up a
majority of secondary data.
Secondary data is defined as already existing data that was collected by
someone else other than the user. It is a type of data that has already been
published in books, newspapers, magazines, journals, online portals, etc. It is a
very popular method used by researchers as it is relatively easy to find and use.
However, one must be careful while using secondary data as it might not
always be accurate or updated.

38
Literature study and the articles are obtaining secondary data from the Internet.
The secondary data was collected on the basis of organizational file, official
records, newspapers, magazines, management books, preserved information in
the company’s database and website of the company.
Secondary data is collected through:
 Books
 Website
 Magazines
 Bank brochures
Secondary data collection refers to gathering information that’s already
available. The data was previously collected, has undergone necessary
statistical analysis and isn’t owned by the researcher. This data is usually
one that was collected from primary sources and later made available for
everyone to access. In other words, secondary data is second-hand
information that’s collected by third parties. A researcher may ask others to
collect data or obtain it from other sources. Existing data is typically collated
and summarized to boost the overall effectiveness of a research. Research is
a diligent and systematic inquiry or investigation into a subject in order to
discover or revise facts, theories, applications, etc. Methodology is the
system of methods followed by particular discipline. Thus research
methodology is the way on we conducts our research.

 Sampling Method

The Sampling method used to define sample is Convenience Sampling. A

convenience sample is a type of non-probability sampling method where the
sample is taken from a group of people easy to contact or to reach; for example,
standing at a mall or a grocery store and asking people to answer questions.
This type of sampling is also known as grab sampling or availability sampling.

39
Convenience sampling is used in exploratory research where the researcher is
interested in getting an inexpensive approximation of the truth. As the name
implies, the sample is selected because they are convenient. This non-
probability method is often used during preliminary research efforts to get a
gross estimate of the results, without incurring the cost or time required to select
a random sample.

SAMPLE Random People

SUBJECT Study on financial services by Bank of
Maharashtra
SAMPLE SIZE 100
DATA SOURCE Survey
METHOD Convenience Sampling
INSTRUMENT Questionnaire

CHAPTER 5
DATA ANALYSIS AND INTERPRETATION

Data interpretation refers to the process of using diverse analytical methods to

review data and arrive at relevant conclusions. The interpretation of data helps
researchers to categorize, manipulate, and summarize the information in order

40
to answer critical questions. The importance of data interpretation is evident and
this is why it needs to be done properly. Data is very likely to arrive from
multiple sources and has a tendency to enter the analysis process with
haphazard ordering. Data analysis tends to be extremely subjective. That is to
say, the nature and goal of interpretation will vary from business to business,
likely correlating to the type of data being analysed. While there are several
types of processes that are implemented based on individual data nature, the
two broadest and most common categories are “quantitative and qualitative
analysis”.

Yet, before any serious data interpretation inquiry can begin, it should be
understood that visual presentations of data findings are irrelevant unless a
sound decision is made regarding scales of measurement. Before any serious
data analysis can begin, the scale of measurement must be decided for the
data as this will have a long-term impact on data interpretation ROI. 

Data analysis is, therefore, a process that involves examining, and molding
collected data for interpretation to discover relevant information, draw or
propose conclusions and support decision-making to solve a research
problem. This involves interpreting data to answer research questions and
making research findings be ready for dissemination.  Data analysis also serves
as a reference for future data collection and other research activities. 

1. Do you have Account in Bank of Maharashtra?

41
 Bank Account

10%

90%

YES NO

Yes No Total
No. 90 10 100
% 90% 10% 100%

Interpretation:

Out of 100 people

90% of people have account in Bank of Maharashtra.

And 10% of people don’t have account in Bank of Maharashtra .

42
 2. Are you aware about the financial services offered by the bank?

Financial services offered by Bank of

Maharashtra

100%
90%
80%
70% YES; 100
60%
50%
40%
30%
20% NO; 0
10%
0%
YES NO

Sales

Yes No Total
No. 92 0 92
% 100% 0% 100%

Interpretation:

Out of 92 people,

10% of people are aware about the financial services offered by the bank.

And none of people were unaware about the financial services offered by the

bank.

43
 3. What kind of financial services have you used?

Financial Services

ATM Services
29% Internet Banking
Loans
Mutual Funds
Mutual Funds Internet Banking ATM Services
4% 60%
Loans
7%

Internet Loans Mutual ATM Total

Banking Funds Services
No. 55 6 4 27 92
% 60% 7% 4% 29% 100%

Interpretation:

Out of 92 people,

60% of people have used internet banking,

7% of people have used loan,

4% of people have used mutual funds,

And remaining 29% have used ATM services.

44
 4. Which service do use frequently?

Financial Services

ATM Services ATM Services; 29.31

Mutual Funds; 4.3

Mutual Funds
Sales

Loans; 3.3
Loans

Internet Banking Internet Banking;

63

0 10 20 30 40 50 60 70

Internet Loans Mutual ATM Total

Banking Funds Services
No. 58 3 4 27 92
% 63% 3% 4% 30% 100%

Interpretation:

Out of 92 people,
63% of people use internet banking frequently,
3% of people use Loans frequently,
4% of people use mutual funds frequently,
And remaining 30% of people use ATM services frequently.

45
 5. Have you opted for a loan?

Loan

40%

60%

YES NO

Yes No Total
No. 55 37 92
% 60% 40% 100%

Interpretation:

Out of 92 people,

60% of people have opted for loan,

And remaining 40% of people have not opted for loan.

46
 6. What kind of loan?

Kind of Loan
38.18
40

35 30.9

30

25

20
14.45
15 10.9

10 5.45

0
Home Education Car Personal Other

Home Education Car Personal Other Total

No. 21 6 3 8 17 55
% 38% 11% 5% 15% 31% 100%

Interpretation:

Out of 55 people,

38% of people have opted for home loan,

11% of people have opted for education,

5% of people have opted for car loan,

15% of people for personal loan,

And remaining 31% have opted for others.

47
 7. How often do you visit your bank?

Sales
Never
3% Often
17%
Rarely
24%

Sometimes
56%

Often Sometimes Rarely Never Total

No. 12 39 17 24 92
% 17% 56% 24% 3% 100%

Interpretation:

Out of 92 Peoples,

17% of the people go bank often,

56% of the people go bank sometimes,

24% of the people rarely go to bank,

3% of the people never go to bank.

48
 8. How do you often use online services?

Often Sometimes Rarely Never Total

No. 65 18 7 2 92
% 70.6% 19.5% 7.6% 2.3% 100%

Online Services
80

70

60

50

40

30

20

10

0
Often Sometimes Rarely Never

Interpretation:

Out of 92 people,

70.6% of people use online service often,

19.5% of people use sometimes use online services,

7.6% of people use online service rarely,

And remaining 2.3% of people have never used online services.

49
 9. What do you feel that the bank of Maharashtra need improvement?

Customer Quick Net Banking Ambience Total

Service Response
No. 39 28 18 2 92
% 42.4% 30.4% 19.5% 2.18% 100%

Improvement
Ambience

Net Banking

Customer Service

Quick Response

Interpretation:

Out of 92 peoples,

42.4% thinks bank need improvement in Customer service,

30.4% thinks bank need improvement in Quick responses,

19.5% thinks bank need improvement in Net Banking Service,

50
And remaining 2.18% thinks bank need improvement in Ambience.

10. Do you think bank of Maharashtra offers competitive interest rates?

Interest Rates

29.4%

70.6%

YES NO

Yes No Total
No. 65 27 92
% 70.6% 29.4% 100%

Interpretation:

Out of 92 people

70.6% of the people think that bank of Maharashtra provides competitive

interest rates,

51
And remaining 29.4% of the people think Bank of Maharashtra does not provide
competitive interest rates.

11. Are you satisfied with services by bank of Maharashtra?

Satisfied

NO 8.6%

YES 91.4%

0 10 20 30 40 50 60 70 80 90 100
Bank
Account

Yes No Total
No. 84 8 92
% 91.4% 8.6% 100%

Interpretation:

Out of 92 people,

91.4% of people are satisfied with services provided by bank,

52
 Remaining 8.6% of people are dissatisfied with financial services provided by
the bank.

12. How would you describe financial services offered by bank of Maharashtra
in one word?

Sales

Bad

Average

Good

Excellent

0
10
20
30
40
50
60

Sales

Excellent Good Average Bad Total

No. 39 28 18 2 92
% 55.4% 31.5% 10.8% 2.3% 100%

Interpretation:

Out of 92 people,
55.4% of people describes financial services as excellent,
53
 31.5% of people describes it as good,
While 10.8% of people describe it as average,
And remaining 2.3% of people describe financial services as bad.

CHAPTER 6
FINDING AND CONCLUSION

Out of the 100 people, 92% of people have their accounts in Bank of Maharashtra and
almost every individual is aware about the financial services provided by Bank of
Maharashtra.

People are better aware about the financial services provided by the bank, and thus
makes the Use friendlier.

And among all it is the Internet Banking services that is used mostly among the
peoples. Around 60% of people use Internet Banking.

Internet banking service is frequently used by customer of Bank of Maharashtra.

Many have opted for bank loan almost 60% of account holder have opted for Loan from
bank of Maharashtra 38% of people have opted for home loan.

Many customer does not go to bank regularly because of the online services provided
by Bank of Maharashtra, with the help of this services most of thing can be done at the
home.

Around 70% of people use internet services often.

Most of the account holders think that Bank of Maharashtra provide competitive interest
rates.

And people also thinks that Bank of Maharashtra need improvement in one or other
things but the vital thing is that is 91% of the people are satisfied by the services
provided by the bank.

54
So concluding thus it can be said financial system by banking and financial sectors in
India is increasing because of increased digitalization process in the country. The
revolution in mobile technology has significantly transformed the financial landscape,
prompting banks to provide financial services through digital platforms. People are
generally much aware about the financial services and thus enjoys the benefits in the
form of better service provided. It’s a better sign in the coming future for India as India is
becoming one of the leading countries and the growth is seen as compared to the pre
period.

CHAPTER 7
LIMITATIONS AND SUGGESTIONS

The growth rate of financial service is very fast but they also face some issues and
problems. These financial services face various challenges for accomplishing the
financial demand for customers.

The various limitations of financial services provided by bank of Maharashtra are:

 Lack of Qualified Personnel

To provide financial services banks requires the financial creativity. There is
lack of qualified and trained employees to do so. Suggestion for this
problem is that the bank should hire qualified and trained employees.

 Lack of Awareness among the customers

There is lack of knowledge about financial services among the customer
and bank should ensure some steps which will lead to increase financial
services knowledge among its customers.

 Improve Online Services and Server failure problem

55
 Being the account holder of Bank of Maharashtra I face this problem very
often. Sometimes the Bank UPI server is not available which leads to
failure of payment. Suggestion for this problem is that the Bank of
Maharashtra should upgrade its online services and UPI server often.

CHAPTER 8
BIBLOGRAPHY

Websites:
 [Link]
 [Link]
 [Link]
 [Link]

Books:
 Management of Banking and Financial Services
 Fundamentals of Modern Banking by N. C. Majumdar

56
 CHAPTER 9
ANNEXURE

QUESTIONNAIRE TO RANDOM PEOPLE

“To find out the perception of the persons about financial services provided by Bank of
Maharashtra”

Dear Respondent I, the student of Dr. Ambedkar Institute of Management Studies and
Research, I am conducting an analysis on financial services by bank of Maharashtra. I
would be highly appreciated and also thankful if you could help us by providing your
valuable remarks on following questions. I assure you of confidentiality of the input you
provide to us.

Name of Respondent: __________________________________________

Age: ________________________________________________________

Gender: __________________________________________

1. Do you have a bank account in bank of Maharashtra?

57
 Yes No

2. Are you aware about the financial services offered by the bank?

Yes No

3. What kind of financial services have you used?

Internet Banking Loans

Mutual Funds ATM Services

4. Which service do use frequently?

Internet Banking Loans

Mutual Funds ATM Services

5. Have you opted for a loan?

Yes No

6. What kind of loan?

Home Education

Car Personal

Other

7. How often do you visit your bank?

Often Sometimes

58
 Rarely Never

8. How do you often use online services?

Often Sometimes

Rarely Never

9. What do you feel that the bank of Maharashtra need improvement?

Home Education

Car Personal

Other

10. Do you think bank of Maharashtra offers competitive interest rates?

Yes Yes No

11. Are you satisfied with services by bank of Maharashtra?

Yes Yes No Yes

12. How would you describe financial services offered by bank of Maharashtra
in one word?

Excellent Good

Average Bad

59
60