Bank Of Maharashtra

RBI has allotted IFSC codes to all the bank branches in India to easily identify transactions done through a particular branch. IFSC codes are unique 11-digit codes with alphanumeric characters, which are given to all bank branches and the code won't repeat. It is mandatory to enter IFSC code or MICR code to identify the branches to perform fund or cash transactions. Without this code the bank branches can't transfer funds.

These codes help the users to ensure that the transferred funds go to the right person, without any errors.

For example, we can take Bank of Maharashtra IFSC code: "MAHB0001150" - IFSC Code of Bank of Maharashtra branch in Shivajinagar, Pune, Maharashtra. This IFSC code can be used for online money transactions via NEFT, RTGS and IMPS to any Bank of Maharashtra account or to other bank accounts.

• Here, the first four alphabets, MAHB, indicate the bank name, i.e., Bank of Maharashtra.
• The fifth digit is 0 (zero) - provided for future use.
• The last six digits 000159 - denotes a particular branch of Shivajinagar, Pune, Maharashtra.

The Indian Financial System Code in short denoted as IFSC is used for online payment applications like Real Time Gross Settlement (RTGS), National Electronic Funds Transfer (NEFT), Immediate Payment Service (IPM), from one bank to another through electronic Instant Mobile Money Transfer service (IMPS), and Centralized Funds Management System (CFMS) instructed by RBI.

RBI has allotted IFSC codes for all banks in India to find out the branches when money transfers take place. According to RBI guidelines, the IFSC code is mandatory for interbank transfers via, NEFT and RTGS to any bank in India. With help of IFSC codes and MICR codes, the online fund transfers are made easy without any confusion. The first four Characters mentioned in IFSC code denote the bank names and the last six digits helps to identify the bank branch name involved in the transaction. The fifth digit is zero for all banks which is next to alphabets provided for future use. This code helps to avoid the risk factor while sending and receiving funds through banks in our country and it makes sure that the money reaches the right account holder at the specified branch.

Easy way to find Bank of Maharashtra IFSC Code and MICR Code?

If the customer knows the full name of the bank and its branch location, then it is easy to find IFSC codes and MICR codes within a few seconds. The customer can find MICR codes and IFSC codes which are printed on passbook and cheque books/ leaves issued by Bank of Maharashtra.

The website of Reserve Bank of India also offers the entire list of IFSC codes required for the account holder. The customers can also enter into the bank's official website. Some of the third-party financial websites or other advertisement websites are also rendering the service to get IFSC codes of any bank and its branches located in India.

Some of the popular financial comparison sites display the table carrying IFSC codes for Bank of Maharashtra branches throughout India. Any account holder visiting the website has to choose the Bank IFSC code link present on the home page. Customers by clicking the link will lead to another page where four columns are displayed. Customers must feed some bank details like the state in which it is located, the district in which it is located and branch name to get IFSC codes or MICR codes for Bank of Maharashtra. The website displays all details about the bank such as the phone number, address of the branch, name, branch code etc.

Bank Of Maharashtra Branch Details

• Andaman And Nicobar Island

• Andhra Pradesh

• Arunachal Pradesh

• Assam

• Bihar

• Chandigarh

• Chhattisgarh

• Daman And Diu

• Delhi

• Goa

• Gujarat

• Haryana

• Himachal Pradesh

• Jammu And Kashmir

• Jharkhand

• Karnataka

• Kerala

• Madhya Pradesh

• Maharashtra

• Manipur

• Meghalaya

• Mizoram

• Nagaland

• Odisha

• Puducherry

• Punjab

• Rajasthan

• Sikkim

• Tamil Nadu

• Tripura

• Uttar Pradesh

• Uttarakhand

• West Bengal

ABOUT BANK OF MAHARASHTRA

In India, Maharashtra State has a long history of commercial activity because of its strategic location and its large natural resources. Maharashtra has been a progressive region and the banking activity was also started in this region quite early. Bank of Bombay was the first commercial bank in Maharashtra established in 1840. However, the first commercial bank set up in Maharashtra outside Mumbai was The Poona Bank established in 1889 at Pune followed by The Deccan Bank in 1890 and the Bombay Banking Company in 1898.

Outbreak of the First World War leading to great depression took a heavy toll on banks in India. Between 1914 and 1935 as many as 380 banks failed in the country out of which 54 were based in Bombay province. The impact of these failures was felt more in Maharashtra region because certain banks known for a long time were also closed down.

The effects of great depression started fading and new enterprises began emerging with new hopes in all spheres of economy, including banking.

MISSION

The mission of the bank is to ensure quick and efficient response to customer expectations, 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 practise and corporate governance and to enter international arena through branch network.

VISION

The vision of the bank is 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.

WANT OF INDEPENDENT BANK

• The Mahratta Chamber of Commerce (MCC) was established in Poona in 1934 and its Founder Secretary Shri.A.R. Bhat was a great visionary. He initiated for a comprehensive review of banking services available in the region through the special issue of Kesarinews paper released in memory of LokmanyaTilak 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 to the subject. He kept on discussing the subject with leaders in trade and industry.
• At last, he ensured that Mahratta Chamber and its directors took up the issue and held a conference of business and industry in Poona on behalf of the MCC in February 1935.
• 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 Swadesh movement of the first decade of the 20th century gave stimulus to the establishment of more 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 KesariMahratta office and besides the committee members, prominent personalities like Shri BabasahebKamat, the then President of the MCCI, J S. Karandikar, RajabhauGodbole, GovindraoPandit, DamuannaPotdar, S.R.Sardesai, BaburaoGokhale, 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 KesariMahratta 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.
• Bank of Maharashtra was registered on 16 September 1935 at Pune with an authorized capital of 1 million by a group of visionaries with the objective to serve the common man who was till then neglected by the banking system.
• The bank continued to have the support and patronage of the common man. Right from its inception, the focus of the bank has been to assist small business enterprises, traders, self-employed and others commonly known as the priority sector.
• In 2015, the bank branch network reached 1889 (including 26 new branches in the year). The bank launched 'Mahamobile' - Mobile Banking Application. In 2016, the bank's total business crossed Rs.2.50 lakh crore and implemented 'Mahasecure' - add on application for Internet Banking. IBA - Banking Technology presented 'Best Financial Inclusion Initiative' award for its good service.

For further details contact
Bank of Maharashtra Head Office
Lokmangal, 1501, Shivajinagar,
Pune - 411005.
Phone No: 25532778, 25514501 - 12.
Toll free no: 1800-233-4526 / 1800-102-2636.