The full form of BOM is Bank of Maharashtra. In India’s public sector, it is a major bank. 87.74 percent of the shares are owned by the Indian government. Moreover, the bank had 1897 subsidiaries and 15 million clients globally as of April 5, 2016. Additionally, it had the largest network of affiliates of any other public sector banking system in the state of Maharashtra.
History of BOM
Check out the history given below for BOM:
- In Pune, India, D.K. Sathe and V. G. Kale founded the bank.
- On September 16, 1935, the bank received a license with a capitalization approved of $1,000,000 USD. It started operations on February 8, 1936.
- The bank expanded quickly after being nationalized in 1969, providing financial backing for a number of small businesses as well as serving as the foundation for several manufacturing firms.
- On February 1, 2012, Narendra Singh was appointed Chairman and CEO. On September 30, 2013, he resigned, and Sushil Muhnot and Ravindra Prabhakar Marathe took over as Chairman and CEO, respectively.
- Further, A.S. Rajiv assumed the roles of managing director and CEO of the bank on December 1st, 2018.
How to Open a BOM Account?
In order to open a BOM bank Account, follow the steps given below:
- Go to the nearest bank of Maharashtra branch with the documents required.
- Then, you have to submit the valid documents along with their photocopies.
- However, all the documents must be in compliance with the KYC requirement.
- Fill out the application form, from the bank branch, furnish with the relevant documents then submit it.
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