Bank of Maharashtra has shut down 51 branches – all in urban centres across India in order to cut costs. From October 1, the bank has closed these branches and declared non-viable and incurring huge losses. These branches have been closed down and merged with neighbouring branches.
Bank of Maharashtra offers several products and services in personal banking such as deposits, savings, personal loans, educational loans, demat services, credit cards, etc. The Bank also offers services to agricultural and SME sectors.