Bank of Maharashtra’s 51 branches to be closed

NP News Network

Pune

Bank of Maharashtra (BoM) has taken the decision of closing down its 51 branches to cut costs. First-time such measure is taken in Maharashtra by any public sector bank. All these closing branches are from the urban area.

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Bank of Maharashtra has total 1, 900 branches in all over India. Out of these,  there are no benefits from the 51 urban branches. That’s why these 51 branches from the urban area will be shut down. Such information was given by the Bank’s Head Office, Pune.

The customers do not have to worry because of this decision of shutting down the total 51 branches, as the customer’s accounts from these banks will be merged to other branches. The Indian Financial System Code (IFFC) and Magnetic Ink Character Recognition (MICR) codes of these branches, will be canceled permanently from the month of December.

All the customers from these branches have to return their checkbooks within November 30. As well as they have been instructed that- they have to do all their transactions with new IFFC and MICR codes.

The expenditures of officials like Head and  Directors of Bank of Maharashtra and increasing Non- Performing Assets (NPA) are the causes of the decrease in profits of such banks being run.

As well as, earlier  DS Kulkarni had distributed the loans by violating all rules. After which Pune Police had arrested five officers along with the Bank Head. These matters cause bank defamation and result in decreasing number of customers. It also affects Bank transactions.

Name of Closing Branches –

• Mumbai, Cotton
• Solapur, Solapur Shivshahi
• Mumbai, Senior Citizen
• Kolhapur, Kolhapur Khasbag
• Rajpeth Amravati
• Mumbai, Bandra West
• Thane, Alayali Industrial Complex
• Pune East, Narahe
• Pune East, Vinjar
• Mumbai, Dr. Annie Besant Road Branch
• Jalgaon, Ganapatinagar
• Latur, People College Campus BR Nanded
• Thane, APMC Vashi
• Nagpur, Nagpur Yashwant
• Latur, Yogeshwari Branch
• Nashik, Hull Township, Ozar
• Pune City, Pension Payment
• Pune City, Sassoon Road Pune
• Mumbai, Corporate Finance
• Pune East, SHG Pune
• Satara, SHG Satara
• Nagpur, Mid-Corporate Branch Nagpur
• Satara, Mid-Corporate Branch Satara
• Nashik, Mid-Corporate Branch Nashik
• Thane, Vasai West
• Jalgaon, Datta Temple Chowk, Ghule
• Thane, Nalasopara East
• Thane, Virar East
• Amravati, Arjun Nagar
• Thane, Boisar
• Mumbai, SHG Mumbai
• Thane, SHG Thane
• Nashik, SHG Nashik
• Aurangabad, SHG Branch
• Aurangabad, SHG Jalna