Mangalore: Bank of Maharashtra to Adopt 75 Villages to Mark Platinum Year
Daijiworld Media Network – Mangalore (SB)
Mangalore, February 23: Bank of Maharashtra to mark platinum year has taken up unique project of adopting 75 villages including three from the state and undertake its complete development.
The bank has plans to take up road laying works, provide basic facilities such as electricity, drainage system, drinking water and toilets, said chairman and managing director of the bank Alan C A Periera. Shiraski and Karajige of Bijapur district and Kakkeri of Belgaum district are the three villages to be adopted by the bank, he informed and added that bank has 51 branches in the state including one in Udupi and three in Dakshina Kannada in places, Bajpe, Adyar and Mangalore. The bank has plans to boost agriculture and self-help groups through Adyar branch by appointing agriculture extension officer, he said.
Boost to Industries
For the development of small scale and medium industries, the bank plans to simplify the process of distribution of loans. The processing of loan application up to Rs 25,000 will be done in two weeks and the loans up to Rs 5 lac will be cleared within four weeks. The bank plans to distribute loan up to Rs 1 crore to encourage talented and young entrepreneurs.
The bank has so far provided such loans to 2,806 people. Apart from 14 branches that are providing such loans, 18 more branches have been earmarked for the purpose. As a result of special campaign undertaken by appointing MBAs, Chartered Accountants and Cost Accountants the distribution of loans has improved by 50 per cent. The bank plans to appoint as many as 100 such candidates, said Periera.
Housing Loan
The bank has received a great response for the newly introduced, Mahabank Platinum Housing Loan. One branch in every place that has over 8 branches will be made available to provide housing loans. The bank plans to distribute Rs 1,000 crore asb housing loans by next September.
Mahasaraswati Plan
The bank has introduced Mahasaraswati Plan to distribute education loan. The children above the age of 10 years can avail the benefit of the plan. So far, as many as 1.5 lac account has been opened.
Correspondent Bank
Periera informed that the bank has begun a plan to provide education to street children in Pune. The bank also plans to extend the correspondent banking plan that provides services to the slum dwellers to other parts of the nation, he explained and informed that in Maharashtra the bank has opened a school for blind by blind people at Chandrapura for which the government has come forward to provide the land.
Online Trading and 1.15 Lac Crore Business Target
Online trading to facilitate online banking account holders has begun on Feb 8 to mark the 75th Founder’s Day of the bank. The bank now has a business of Rs 96,000 crore and in the platinum year it proposes to reach a target of Rs 1.15 Lac Crore.
The bank has 1,444 branches in 22 states and 2 union territories in the country. In the platinum year, the bank aims to reach the figure of 1,500 branches. Apart from 345 ATMs at present, there are plans to open 75 more ATMs. All the branches will be covered under CBS, said Periera.
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