News for Bank of Maharashtra (MAHABANK.NS)

Maharashtra State Road Development Corporation has secured funding commitments of 215 billion rupees from lenders for a road project near Mumbai. The key lenders include Rural Electrification Corporation, National Bank for Financing Infrastructure and Development, and India Infrastructure Finance Company Ltd. The road construction is set to start in the next financial year.

The collapse of ATM service provider AGS Transact is causing widespread disruptions, affecting major banks like SBI, ICICI Bank, and Axis Bank. SBI is the most impacted with 14,000 unserviceable ATMs, while ICICI Bank and Axis Bank are migrating their ATMs to other service providers to mitigate the issues.

AIBOA demands halt to disinvestment, merger of Nainital Bank, adequate recruitment, and 5-day week in banking industry.

The two banks which recently added to the list are Tamilnad Mercantile Bank (included on March 5, 2025) and IDFC First Bank which got added on Nov 27, 2024. Another bank which added to the list is Dhanlaxmi Bank on June 26, 2024.

Net NPAs increased to Rs 36,260 crore in the December quarter from Rs 34,843 crore in September and Rs 33,116 crore in December 2023, observes Tamal Bandyopadhyay.

RBI deputy governor Rajeshwar Rao was among the signatories to the proposal of recommending Pandey for the post, as per a document accessed by Mint under an RTI query. Pandey did not get the role and the government eventually appointed Binod Kumar as the chief executive of Indian Bank.

After the RBI repo rate cut, banks such as SBI, Canara Bank, PNB, and Union Bank among others have cut their repo linked lending rates. Most other banks are also expected to cut their lending rates in line with the RBI rate cut.

Bank of Maharashtra has kickstarted roadshows in UAE for its next equity fundraising by way of qualified institutional placements, likely to take place in the December quarter, three experts aware of the development told NDTV Profit. It is looking to dilute 4.6% stake, and end of 2025 in the third quarter may be the right time, a senior bank executive said.

Investors eagerly eye public sector bank shares amidst government divestment plans and market volatility, anticipating strong growth potential.

Local merchant banks are likely to compete fiercely for arranging future government stake sales in public sector banks and listed financial institutions, despite low fees. This competition creates future opportunities. Foreign banks may also participate, though limited fees and stretched staff may deter them. Private and public sector banks, alongside brokerage-led institutions, are expected to pursue these mandates.

In February 2025, six banks adjusted senior citizen fixed deposit rates, offering up to 9.1% amid a 0.25% RBI repo rate cut. This move affects deposits under Rs 3 crore, impacting post-retirement finances.

India is seeking bids for merchant bankers and legal advisers to manage the sale of the government's minority shares in public sector banks such as Central Bank of India, Indian Overseas Bank, UCO Bank, and Punjab and Sind Bank. This move aims to comply with market regulations requiring at least 25% public shareholding.

Govt seeks merchant bankers, legal firms to cut stake in public sector banks, financial institutions

PSU bank stocks have fallen up to 34% in a year, facing deposit market share loss, weak margins, and competition from private banks. Despite strong earnings, analysts favor large private banks over PSU lenders.

India Business News: NEW DELHI: Bank of Maharashtra has cut interest rate by 25 basis points on retail loans, including home and car loans, in line with reduction in repo .

The Pune-based lender has received Reserve Bank of Indias approval to set up an International Financial Services Centre (IFSC) Banking Unit at GIFT City.

Growing crisis in India's banking sector due to staff shortages, security risks, and rising NPAs, prompting urgent action from unions.

Evaluating your financial capability before securing a car loan is crucial to avoid cash flow disruptions. Here is a comparison of the interest rate of car loans and the corresponding EMIs for a loan amount of Rs 5 lakh with a repayment tenure of 5 years across different banks in India.

Finance Minister Nirmala Sitharaman announced several incentives in the Union Budget including a slew of incentives aimed at promoting investment, employment and off-shore funding at GIFTs International Financial Services Centre.