Background and Inception

The Mahratta Chamber of Commerce (MCC) was established in Poona in 1934 and
its Founder Secretary Shri A.R.Bhat was a great visionary.

Shri Bhat initiated for a comprehensive review of banking services available in the
region through the special issue of Kesari news paper released in memory of
Lokmanya Tilak within a few months of establishment of MCC. He ensured that his
friend, Shri V. P.Varde, considered as a doyen of co-operative movement, wrote an
article on the necessity of a separate bank for Maharashtra, thus launching a public
discussion on the subject. While there was no noticeable response to the article of
Shri Varde, Shri A R Bhat kept on discussing the subject with leaders in Trade and
Industry.

Shri Bhat ensured that Mahratta Chamber and its Directors took up the issue and
held a Conference on Business and Industry in Poona on behalf of the MCC in
February1935.

Shri Bhat pushed the proposal for formation of a bank and succeeded in getting the
following resolution adopted by the conference:

"For providing capital to the trade and industry in Maharashtra, it is essential to

establish a Joint Stock commercial bank. The Mahratta Chamber is, therefore,
requested to make all the necessary enquiries in that behalf and take appropriate
steps for floating such a bank. The business community in Maharashtra is urged to
support such an effort. "

The Swadeshi movement of the first decade of the 20th Century gave stimulus to
the establishment of a number of commercial banks under Indian Management in
Maharashtra.

The MCC formed a sub-committee consisting of Sarvashri V.G.Kale, D.K.Sathe,

N.G.Pawar, G.D.Apte and A.R.Bhat to work out the details.

The first meeting of the committee was held on 19 May 1935 in the conference
room of the Kesari Mahratta office and besides the committee members, prominent
personalities from the City like Shri Babasaheb Kamat, the then President of the
MCCI, J S.Karandikar, Rajabhau Godbole, Govindrao Pandit, Damuanna Potdar,
S.R.Sardesai, Baburao Gokhale, and N.N. Kshirsagar among others participated in
deliberations.

Another meeting of the sub committee with wider public representation was
followed on 27 May 1935 in the meeting hall of Kesari Mahratta office and decisions
on matters like the number of Directors on the Board of the proposed bank
(maximum to be 11 members), Amount of each share (to be Rs.50/-) and primary
condition for becoming a Director (to hold a minimum of 500 shares) were taken.

The Bank was formally registered under the Indian Companies Act, on the
auspicious day of 16 September 1935.

The Memorandum and Articles of the Bank were signed by following 19 promoters
(Sarvashri)

Board of Directors Others

1. Prof.V G Kale 1. A R Bhat

2. D K Sathe 2. S M Joshi

3. B M Gupte 3. B S Kamat

4. N. G. Pawar 4. S R Rajguru

5. V T Ranade 5. R N Abhyankar

6. V P Varde 6. T V Sane

7. M R Joshi 7. D G Bapat

8. S G Marathe 8. G S Marathe

9. Raghunathrao Sohoni 9. D D Chitale

10. D V Potdar

Witness Signatory: Shri G D Apte

The first Board of Directors of The Bank of Maharashtra Ltd was constituted with
following members.

Prof.V G Kale, an ex-member of Indian Tariff Board and a reputed economist and
educationist of old generation.

Shri D K Sathe, a businessman and a prominent social worker and had experience of
Co-operative banking.

Shri B M Gupte, Chairman of the Poona Central Co-operative Bank.

Shri N. G. Pawar, Engineer and Contractor

Shri V T Ranade, of M/s.V R Ranade and Sons a leading firm of Engineers and
Contractors

Shri V P Varde, a leading figure in the co-operative movement and who provided
major impetus to the move.

Shri M R Joshi, a leading paper merchant from Pune.

Shri S G alias Annasaheb Marathe of M/s.V R Ranade and Sons.

Shri Raghunathrao Sohoni, a leading merchant who had initially moved the
resolution of formation of the Bank for Maharashtra.

Nature of the Business carried

The Bank shall carry on and transact the business of Banking as defined in Clause
(a) of Section 5 of the

Banking Regulation Act, 1949, and may engage in one or more of the other forms of
business specified in SubSection (1) of Section 6 of that Act.

Clause (b) of Section 5 of the Banking Regulation Act, 1949 defines Banking as "the
accepting for the purpose

of lending or investment, of deposits of money from the public, repayable on

demand or otherwise, and

withdrawable by cheque, draft, order or otherwise."

Other Business that the Bank may undertake (Section 3 (7))

Sections 3 (7) of Chapter II of the Banking Companies (Acquisition) Act 1970

provides for the Bank to act as

Agent of Reserve Bank.

1. The Bank shall, if so required by the Reserve Bank of India, act as agent of the
Reserve Bank at all

places in India where it has a branch for:

a) Paying, receiving, collecting and remitting money, bullion and securities on

behalf of the

Government of India.

b) Undertaking and transacting any other business which the Reserve Bank may
from time to time

entrust to it

2. The terms and conditions on which any such agency business shall be carried on
by the corresponding

new Bank on behalf of the Reserve Bank shall be such as may be agreed upon

3. If no agreement can be reached on any matter referred to in Clause (b) above, or

if a dispute arises

between the corresponding new Bank and the Reserve Bank as to the interpretation
of any agreement

between them, the matter shall be referred to the Central Government and the
decision of the Central

Government, thereon, shall be final.

4. The corresponding new Bank may transact any business or perform any function
entrusted to it under

Clause (a) by itself or through any agent approved by the Reserve Bank.

Vision, Mission and Quality policy

Vision : The Bank aims to progressively increase its business every year so as to
double the business every three years by increasing the customer base
substantially, which will provide a healthy bottom line. It also aims to become a
techno-savvy Bank for enhancing the levels of customer satisfaction. The Bank also
aims at being the best in Maharashtra and the most liked in other states of the
country and have a national character in the entire country, besides gradually
aiming for an international presence.

Mission : The visionary founders of the Bank had in mind, idea of providing banking
facilities for people with small means both for deposits and advances and the Bank
is well aware that it has reached its present position mainly due to the trust and
confidence reposed in it by their clients and well-wishers.

The institution of family is the very backbone of Indian culture and society. Banks
have already become an integral part of the day-to-day life of the average urban
family. With spread of education and with advanced technologies, banking will
spread to rural families across the Country. It is easy to visualize that servicing the
banking needs of families will be one of the main business area in future with
tremendous potential for growth.

Product / Service Profile

Deposit Scheme

Floating Rate Deposit Scheme:

The purpose of this scheme is to provide optimum return on the investment of customer at market related
rates.

 The account can be opened by any individual, singly or jointly, HUF, Trust, Company, Firm or any
other legal entity.

 The deposit will be accepted in multiples of quarters between 24 to 36 months.

 Minimum amount of deposit acceptable under the scheme will be Rs 5.00 lakh and multiples of Rs.
10,000/- thereafter.

 Reference rate for the scheme is Bank rate.

Saving Deposit

Easy cash liquidity

 The minimum deposit for this account is Rs.100/-

 Withdrawals can be made through withdrawal slips or cheques

  Nomination facility available

 Introduction necessary

Cumulative Deposit Scheme (CDR)

Compounded returns on deposit

 Minimum deposit - Rs.100/- and in multiples thereof

 Minimum period of deposit ? 6 months

 Repayment on the date of maturity in lumpsum alongwith interest

 Quarterly compounding of interest

 Nomination and loan facilities available

Maha Bank Unit Deposit Scheme

Double benefit scheme

 Minimum deposit Rs.5000/-

 Minimum period of deposit 46 days

 Automatic renewal after expiry of designated period

 Part withdrawal facility

 No penalty on the amount withdrawn

 Nomination and loan facilities available

Mahabank – Solabh Maha Yojana

Flexible Recurring Deposit Scheme

 Minimum deposit Rs.100/- as core deposit and in multiples thereof to be deposited every month as
in the case of recurring deposit

 Maximum amount that can be deposited at one time is Rs.10,000/-

 Minimum period of deposit 12 months

 Repayment on the date of maturity alongwith interest

 Loans

Educational Loans

Purpose For Studies in India and Abroad

Eligibility Studies in India: Graduation courses/Colleges under Universities approved
by UGC. Other courses leading to diploma / degree etc. conducted by
colleges / universities approved by UGC / Govt. / AICTE / AIBMS / ICMR
etc.

Studies Abroad : Job oriented Prof./Technical / PG courses/ Post

Graduation: - MCA, MBA, MS etc
Age Student should be Indian national, have secured admission by Entrance test
/ Merit bases selection.
Maximum amount In India : Rs. 10.00 lac
Abroad : Rs. 20.00 lac
Security Up to Rs. 4.00 lac - Clean
Guarantor Above Rs.4.00 lac to Rs.7.50 lac -
Satisfactory third party Guarantee

Above Rs. 7.50 lac

Value of collateral security after providing requisite margin as below should
be equal to the quantum of finance plus 2 acceptable guarantor.

Computers purchased out of loan be hypothecated.

Margin Up to Rs. 4.00 lac - Nil

Above Rs.4.00 lac -

5% for studies in India
15% for studies abroad
Deduction Limit N.A.
Rate of Interest Loans up to Rs. 4.00 lac (Base Rate + 2.00%)
Loans above Rs. 4.00 lac (Base Rate + 2.75%)

• Simple interest during moratorium period, there after compounded

monthly

• 1% interest concession may be provided to the loanees if the

interest is serviced regularly as and when applied during the study
period when repayment holiday is specified for interest/ repayment
under the scheme. Interest concession is available only for
moratorium period.

Repayment EMI – 60 Months (Loan plus int.accrued together)

Moratorium: Course Period + 1 year OR 6 months after getting job
whichever is earlier
Processing Fee Nil
Insurance N.A.
Others
• Loan will be granted to student with parent as Co-borrower/s
Loan will be disbursed in stages as per requirement directly to Institute /
College.

Other Facility Student can apply education loan in online mode through our website. This
Facility is presently available only in selected 75 branches (shortly it will be
increased to handsome number)

Loans for Agriculturist

Mahabank Kisan Credit Card

Purpose Cultivation of crops
Meeting the short-term credit needs of farmers for crop production and
allied activities etc.
Maintenance of farm equipments etc.
Eligibility Agriculturist who owns agricultural land
Amount As decided by District Technical committee & limit worked out for the
purpose.
Security Mortgage of land.
Hypothecation of crop/Assets.
Repayment Revolving credit facility for 3 years.
Coinciding with harvesting of crops-season/marketing of produce.
Other Terms & Conditions Assured and timely availability of working capital for crop cultivation.
Borrowers are covered under personal accident insurance scheme.
Insurance for notified crops is available.

Minor Irrigation for Agriculturist

Purpose Digging of new wells, revitalization of existing well, purchase of oil engine,
electric motor, pump set installation of pipe line, sprinkler, irrigation, drip
irrigation, tube well, bore well, etc.
Eligibility Agriculturist who owns agricultural land.
Amount For new dug wells as per the NABARD Unit costs for equipments/estimates.
Security Mortgage of land,
Hypothecation of movable assets and guarantors.
Repayment Depending upon the repaying capacity 7 to 11 years.
Other Terms & Conditions Proposed well should be located in white watershed area. It should not be in
dark watershed area.

Farm Mechanization for Agriculturist

Purpose Purchase of Tractors/Power tillers
 Purchase of Harvesters
Purchase of Threshers & other farm implements
Eligibility Agriculturist who owns at least 8 acres of Irrigated land. The Tractor should
get at least 1500 hrs of work in a year.
Amount As per cost of machinery
Security Hypothecation of Tractor/trolley and accessories,
Mortgage of land.
Repayment 7 to 9 years.
Other Terms & Conditions Comprehensive insurance of machinery with bank clause.

Animal Husbandry
Purpose Purchase of Cows/Buffaloes
Poultry- Broiler Farm, Layers Farm, Hatchery
Sheep/Goat Rearing
Construction of Byre, Purchase of Machinery
Working Capital Requirements.
Eligibility Agriculturist, agri. Labour and / or those who have necessary expertise.
Amount Animal cost - As per NABARD unit costs
Others- as per the project.
Security Hypothecation of Animals/Plant Machinery to be purchased
Mortgage of land.
Repayment 4 to 5 years with suitable installments.
Other Terms & Conditions Insurance of all animals is essential.

Horticulture
Purpose Cultivation of fruit crops-mango, Pomegranate, Grapes etc.
Eligibility Agriculturist with adequate provision of irrigation
Amount As per NABARD Unit costs/ Project
Security Mortgage of land.
Hypothecation of crops.
Repayment Within 15 years.

Scheme for Financing Setting up of Agri-Clinics and Agri-Business Centres for

Agriculture Graduates
Purpose Setting up of Agriclinics
Setting up of Agribusiness Centers.
Eligibility Agriculture graduates
Amount Individiuals Max. Rs 10 lakh, Group Rs 50 lakh
Security Hypothecation of Assets created out of bank loan
Mortgage of land.
Repayment 5 to 10 years.

Scheme for Financing Farmers for Purchase of Land

Purpose Purchase of land
Eligibility Small & Marginal farmers, share croppers/Tenant farmers.
Amount Maximum Rs 15,00,000/-
Security Mortgage of land.
Hypothecation of crop/Assets.
Repayment As per the repaying capacity & incremental income.
Other Terms & Conditions Total land holding including proposed land should not exceed 5 acres.

Scheme for two wheeler to farmers

Purpose Purchase of two wheeler.
Eligibility Net annual Agril. Income above Rs 50,000/- or 5 acres of irrigated land.
Amount Max. Rs 50,000/-
Security Hypothecation of Asset.
Guarantors.
Repayment 3 to 5 years.

Consumer Loans to Farmers

Purpose Purchase of consumer durables.
Eligibility Net annual Agril. Income above Rs 50,000/- or 5 acres of irrigated/10 acres
seasonally irrigated land.
Amount Max. Rs 50,000/-, for four wheelers Max. Rs 2 lakh.
Margin 10%
Security Hypothecation of assets.
Repayment 3 to 5 years.

Hi-tech Projects
Purpose Hi-tech projects.
Eligibility Agriculturist with knowledge of advance techniques in the farming.
Amount As per the project cost.
Security Hypothecation of goods
 Other collateral security.
Repayment Within 6 to 8 years.

Loan Scheme for Corporates

The Bank finances the corporate sector for its business activity and for setting up units, modernisation,
diversification and upgradation.

Such finance is extended in the form of

Funded Facilities

Non funded facilities

Funded Facilities

Term Loans :
Repayment in instalments over a fixed time.

Purpose : For acquisition of fixed assets / machinery or for financing projects.

Amount of Loan : Generally 75% of the cost of maintaining a margin of 25%.

Security : Charge on assets.

Cash Credit :
Running account facility.

Purpose :To meet working capital requirements.

Amount of facility : Based upon the Bank's assessment of the working capital requirement.

Security : Charge on assets.

Bill Discounting :
In the nature of post sales limit.

Amount of facility : Generally upto a specified percentage of the value of the bill.

Discounting under : L/C or firm order.

Security : Charge on the Bill, Collateral if required.

Non Funded Facilities

• Letter of Credit facility to facilitate purchase of material / goods.

• Letter of Guarantor facility for the issuance of Guarantee in the nature of bid bonds, performance
bonds, etc.

For finance of International trade, the Bank provides Working Capital facility to

Exporters

Importers

For Exporters

Working Capital finance can be availed at

• Pre-shipment stage

• Post shipment stage

• At the pre-shipment stage finance is provided in the form of Packing Credit Purpose :
For procuring / manufacturing of goods meant for export.

Amount of Packing Credit : Upto 90% of FOB value of goods.

• Security : Charge on assets created out of finance.

Repayment: From Export proceeds, Proceeds of negotiation / Discounting of Export Bills.

• At the post shipment stage export finance is provided by way of

• Negotiation / Discounting of Export Bills,

• Rupee advances against collection bills,

• Advance against Export incentive.

The advances are repayable from Export proceeds or receivable and carry interest rate in conformity with
RBI guidelines.

Export finance is also provided in foreign currency at internationally competitive interest rates. Interest
Rates is linked to LIBOR and is subject to maximum LIBOR + 1.5% . Finance in foreign currency is extended
by way of Pre shipment Credit in foreign currency at the preshipment stage and Discounting of Export Bill in
foreign currency at the post shipment stage.

For Importers

For Importers Funded Working Capital finance by way of cash credit facility and non funded Working Capital
finance by way of Import Letter of Credit facility is provided to corporates who are importers.

Foreign Currency Lending

The Bank also extends short term foreign currency loans to importers / Resident Constituents. This enables
accessing of finance at internationally competitive interest rate linked to LIBOR.

Loan Scheme for Entrepenuer

The Bank finances the Industrial Sector for setting up a unit for modernization, diversification,
upgradation, expansion.

Bank finance can be availed in the form of :

• Term Loan for acquisition of machinery and fixed assets.

• Working capital by way of funded Cash Credit limit .

• Non fund facilities in the form of Letters of Credit / Letters of Guarantee.

The Bank finances Industrial Ventures under its own scheme as well as under the National Equity Fund
Scheme (NFE) and Other Government Sponsored Schemes (GSS).

Loan Scheme for Individuals

 We have finance schemes that translate your dreams into reality.

Loans against deposits

If you have any term deposit with us you can in emergencies always avail of this facility which we offer.

Persons eligible

Anyone who has a deposit with us.

Margin :

As low as 10%
As high as 25%

Repayment

In easy installments or date of maturity of the receipt.

Guarantee

No guarantors required.

Loan Scheme for professional and Self Employed

Purpose To purchase equipment/ repairs/renovation to existing equipment, purchase

of tools, working capital requirements, acquiring/repairing

Eligibility Doctors, Dentists, Chartered Accountants, Cost accountants, Lawyers,

Solicitors, Engineers, Architects, Surveyors, Construction contractors or
Management Consultants or to a person trained/qualified/skilled in the
chosen vocation/field in which employed, "the bank extends finance under
 its own facilities and even under the Govt. sponsored schemes.

Amount Depending upon the assessed requirement considering financial viability,

repayment capacity etc.

Margin : Generally 25%, which can vary according to requirement and assessment.

Security Assets created by the Loan to be charged to the bank and other collateral
security.

Repayment by EMI From short term to period generally ranging up to 5 years.

Processing fee 1% of the loan for amount above Rs 25,000/-.

Housing Loan Scheme

Purpose
• Build your own house

• Purchase new house/Flat (Old or New)

• Repairs/Renovation of existing house

Eligibility Salaried Persons, Professionals, Businessmen with sufficient disposable

income. Farmers having min five acres of irrigated land holding. Non
Resident Indians are also eligible.
Age Minimum 21 years - Maximum 50 yrs. for salaried persons.
Maximum 55 years for other than salaried persons
Quantum of Loan: For salaried class
50 times of Gross Salary or 60 times of Net Monthly salary which ever is
higher subject to applicable margin

For Businessmen
Equal to avg annual income (Net profit + Depreciation) of last 3 yrs X 4
times (B/S, IT returns) Also note repayment of any other term liabilities.

For Farmers
4 times of avg annual net income. Cross check Gross income, land holding,
cropping pattern, Sugar Factory/APMC/ other agencies bills etc. Ensure for
repayment capacity & repayment experience. If jointly owned, consider
joint holder’s income
Maximum Loan Quantum: No maximum limit for Metro/Urban area
Rs.15 lakh in Semi Urban/Rural area
Rs.5 lakh for repairs/renovation in all areas
Deductions Total deductions including proposed EMI should not exceed 65% of gross
monthly salary / annual income.

Security Upto Rs 25000/- One Guarantor with sufficient income/networth

Above Rs 25000/- Equitable/Regd. Mortgage of property or Equal amount
of paper security (NSCs, FDRs of our Bank etc. excluding shares) guarantee
of the spouse, guarantee of relatives whose income is considered for
quantum
Insurance For full value against fire/ Earthquake etc with Bank’s clause.

Mahabank Adhar Scheme

Purpose Personal expenses

Eligibility Pensioners

Age Max. 70 Years

Maximum amount 12 months pension Rs. 75000/- whichever is less

Security Clean

Guarantor Person entitled to Family Pension.

If there is no beneficiary of family pension an acceptable guarantor

Margin Nil

Deduction Limit 60%

Repayment EMI – 60 Months

Processing Fee Nil

Insurance N.A.

Other No restriction on number of occasions up to age of 65 yrs. But only 2 times

after 65 yrs

Other Facility N.A.

Gold Card Scheme For Exporters

Objective of the Scheme : To provide better terms of credit to all eligible exporters, including those
under small and medium sector, compared to those extended to other
exporters by the Bank.
Eligibility : All exporters, including those under small and medium sectors, would be
covered under the scheme provided:

• Their accounts are classified as "STANDARD" continuously for 3

immediately preceding years.

• Their names do not figure in RBI's defaulter list / caution list and
they have not been blacklisted by ECGC.

• There are no overdue in pre-shipment export credit.

• They have not run up losses continuously for 3 immediately

preceding years.

• They do not have overdue export bills in excess of 10% of the

current year's turnover.

Benefits to Exporters :
• Limits will be sanctioned in-principle for 3 years, with a provision
for renewal, subject to satisfactory compliance with the terms and
conditions of sanction stipulated by the Bank.

• A standby limit to the extent of 20% of the assessed limit will be

made available to the Gold Card holders for meeting urgent credit
needs for executing sudden orders.

• Requests for Packing Credit in Foreign Currency (PCFC) from Gold

Card holders will be given priority.

• In case of unanticipated export orders, norms for inventory will be

relaxed taking into account the size and nature of export order.
Service charges stipulated for Gold Card holders will be 25% lower than
the charges recovered from other exporters.

Tenure : The Gold Card will be issued for a period of 3 years and will be
automatically renewed for a further period of 3 years provided no adverse
features, irregularities are noticed in the account. In case of any misuse of
the card or observance of any violation of terms and conditions, the Bank
shall have the right to recall the Card any time.
Time : Sanction of fresh / enhanced credit limit 25 Days
Renewal of existing credit limits 15 Days
Sanction of ad-hoc credit facilities 7 Days
Documents : Requests for credit under Gold Card Scheme is to be made as per the
simplified loan application form for export credit (please see Annexure B in
Downloads ) along with Annexure I to IV as applicable, together with
further details if necessary, for assessment of credit limit under Gold Card
Scheme.

Mahabank Renewable Energy Equipments

Objective : To promote adoption of renewable energy practices and use of Solar Home
Systems.
Purpose : To install renewable energy equipments viz.

Solar Energy

1. Solar Home Systems

2. Solar Water Pumps with photovoltaic cells

3. Equipments run on Photovoltaic Cells

Bio Energy

1. Biomass Power Cogeneration Products

2. Equipments converting Waste to Energy

3. Bio Diesel
Clean Energy Programmes:

1. Equipments promoting Clean Energy

The equipments should be manufactured by the companies approved by

Bureau of Indian Standards (BIS), as well as UNEP.
Eligibility : Farmers, Rural Artisans, Salaried, business or Self Employed persons.
Minimum net income of the applicant should be Rs. 50,000/- per annum.
Amount : 90 % of cost of the system, maximum Rs. 50,000/-
Margin : 10 % in Bank’s favour.
Rate of Interest : We are providing consumer loans in general to borrowers for purchase of
consumer durables and the interest rate charged is at BPLR

The equipments / items that will be purchased under the scheme will be
helpful in supporting ecological balance. Interest concession of 50 basis
points for borrowers under the scheme will be available. The interest rate
accordingly will be at BPLR – 0.50 % i.e. at present 10.75 %.
Repayment : Repayment instalment would be decided as per the income generation of
the applicant. Total loan will be repayable within 5 years.
Security :
1. Hypothecation of the system to be purchased

2. One guarantor acceptable to the bank

Adequate insurance cover of the system / equipment

Other Terms and Conditions: Payment to be made directly to the dealers

Salary Gain Scheme

Purpose To meet personal needs of the customers who are salary earners.
Eligibility
i.Applicants salary should be with the branch.

ii.Customer should be in permanent employment at least for 2 years

with corporate/mid corporate/central or state govt/ co-op society.

iii.Minimum take home salary should be Rs 6000/p.m. (Average of last

6 months to be taken).

Nature of Facility: Overdraft in Saving Account.

Amount : 50% of one month take home salary or Rs 25000/ whichever is Less.

Margin : Generally 25%, which can vary according to requirement and assessment.

Security Clean.

Other Conditions:
• Eligible amount to be decided on the basis of last six Months take
home salary, repayment obligations, Regular credit of salary.

• Existing account holders can also opt for the scheme.

• In case of change in take home pay existing limit can be adjusted.

• Interest on credit balance if limit is not availed. Interest on debit

balance be charged on monthly basis.

Employer be kept informed about availment of facility.

Vehicle Loan Scheme

Purpose Purchase of New 4 or 2 wheelers / Second hand 4 wheelers up to 3 yrs old

Eligibility Permanent salaried / Professionals / Businessmen

Age -

Minimum Employment For Service Persons Total – 3 yrs

Current – 2 yrs
Others – 3 yrs

Minimum Annual Income 4W - Rs.3.50 lac for salaried,

Rs. 2.00 lac for others 2W – Rs. 2.00 lac (Income of spouse can be included
if joins as Co-applicant)

Maximum amount 4W – Rs.15.00 lac

2W – Rs.0.50 lac
 Salaried - 18 times Gross Pay
Professionals - 1.50 times of average annual Income as per their last
three Balance - Sheet/ P & L account or last years income whichever is less.

Security Hyp. of Vehicle

Guarantor One Guarantor acceptable to Bank

Margin : 15% for new vehicle.

50% for second hand 4 wheeler up to 3 yrs

Deduction Limit 60% of Gross Pay

Repayment 4W(New) 84 Months

2W 60 Months
2nd 4W 60 Months

Processing Fee 4W Rs. 2000/-

2W Rs. 500/-

Insurance Compulsory

Group Finance 20 permanent Employees of same organization of repute

-Margin Relaxation up to 10%.

Others The maximum amount for purchase of 2 wheelers & 4 wheelers is Rs 0.50
lakh & Rs. 15.00 lakh respectively. If the loan is availed for a lesser amount
than the prescribed limit, borrower desires to avail the loan during the
currency of the

Mahabank Personal Loan Schemes

Purpose To meet personal Expenses

Eligibility Permanent salaried / Professionals (must be IT assesses)

Age 21yrs – 60yrs at Loan Maturity

Minimum Employment For Service Persons Total – 5 Yrs

Current – 2 yrs
Professionals -3 years

Minimum Annual Income Salaried persons, permanent in service / professionals -minimum income
Rs. 3.00 lakh p.a. (Teachers having salary a/c Rs.2.00 lac)

Maximum amount Rs.1.50 lac

 Salaried - 6 times Gross Pay
Professionals - 50% of Gross Avg. Income of last 3 yrs IT return or last
yrs inc. which ever is less

Margin : Nil

Deduction Limit 60% of Gross Pay

Rate of Interest Click here to view the Interest Rate

Security CLEAN

Guarantor One Guarantor acceptable to Bank

Repayment EMI – 36 mts (Max) or residual service whichever is less

Processing fee 1% of Loan Amt. Min. Rs.500.00

Insurance N.A.

Group Finance No Group Finance

Others N.A.

NRI Services

Non Resident Ordinary Account

 You can open Rupee Checking Accounts, namely Rupee Savings Account or Rupee Current Account
and Rupee Fixed Deposit Accounts. This account will be maintained in Indian Rupees.

 Non-Resident Indians and Persons of Indian Origin can open this type of account.

 When you become non-resident, the Rupee accounts held by you prior to your becoming non-
resident get designated as Non-Resident Ordinary accounts. These accounts are for Non-Resident
Indians who need an account to credit local dues like rent from property etc.

Types of Account
All types of accounts can be opened under the scheme such as Current, Savings, Recurring and Term
Deposit.

• Joint accounts:
The account can be opened jointly with other Non-Resident Indians, or Resident in India.

• Account Opening:
The account can be opened by the following funds:

o Remittance from abroad,

o Proceeds of Foreign Currency/notes/travellers cheques during the temporary visit of the

account holder,

o Proceeds of Drafts/personal cheques,

o Transfer from existing FCNR/NRE accounts of same person and

o Funds from local sources representing bonafide transactions in Rupees.

• The funds held in these accounts are non-repatriable except in the following cases:

o Upto US$30,000/-per academic year to meet expenses in connection with education of their
children,

o Upto US$1,00,000 to meet the medical expenses abroad of the account holder or his family
members,

o Upto US$1,00,000 per year representing sale proceeds of immovable properties held by
them for a period of not less than 10 years,

o Current income such as rent, dividend, pension, interest etc., net of applicable taxes.

Permitted Credit

Proceeds of remittances received from outside India through normal banking channel or foreign currency
notes tendered by the account holder during his temporary visit to India or transfers or legitimate dues in
India of the account holder.

Permitted Debits

a. All local payments in Rupees including payments for investments, subject to compliance with RBI
regulations

b. Remittance outside India of current income in India net of applicable taxes.

Interest Rates

Interest Rates on these accounts are the same as domestic rates.

Income Tax

Interest earned on these deposits shall be subject to at source deduction of Income tax at prevailing rates

NRI External Account

 The account should be opened by the Non-Resident account holder himself and not by the holder of
power of attorney in India,

 The account will be maintained in Rupees. The account can be maintained in any form such as
Savings, Current, Recurring and Term Deposit etc.,

 The account can be opened jointly with another non-resident/s provided all the account holders are
persons of Indian nationality or origin. Opening of accounts with resident Indian is not permitted,

 Opening of Account

i.Remittance from abroad,

ii.Proceeds of Foreign Currency notes/travellers cheques / During the temporary visit of the
account holder,

iii.Proceeds of Draft/personal cheques,

iv.Transfer from existing FCNR / NRE accounts of same person

Repartiation

Funds held in this account including interest earned thereon are fully repatriable,

Power of Attorney

Power of Attorney for the NRE account can be given to a local person allowing the person to operate the
account for local payments, to make eligible investments etc.

Tax Benefits

Income by way of interest earned on these deposits is exempted from Income Tax. Balances held in these
accounts are free from Wealth Tax.

Nomiation Facility
Nomination facility is available for NRE accounts.

Permitted Credit

Proceeds of Foreign Currency cheques, drafts, travellers cheques, remittances from abroad in foreign
currency, proceeds from your existing NRE / FCNR accounts, Interest on Govt. securities and dividend of UTI
and other investments in shares and debentures provided that the investments were made by debit to the
NRE / FCNR account.

Permitted Debit

Local Disbursements, Remittances outside India, transfer to NRE/FCNR of your own account. Investments in
shares/securities/debentures of an Indian company is permitted subject to regulations in vogue

Foreign Currency Account scheme

 The account can be opened by Non-Resident Indians (NRI) and Overseas Corporate Bodies (OCB).

 The account should be opened by the Non-Resident account holder himself and not by the holder of
Power of Attorney in India.

 These accounts are Term Deposit accounts with minimum maturity of one year. The maturity period
ranges from one year to three years. The account will be maintained in Foreign Currency. You will
be earning interest on the deposits in foreign currency only.

 The account can be opened jointly with another non-resident provided all the account holders are
persons of Indian nationality or origin. Opening of account with resident Indian is not permitted.

 Opening of Account:

o Remittance from abroad,

o Proceeds of Foreign Currency notes/travelers cheques/ during the temporary visit of the
account holder,

o Proceeds of Draft/personal cheques,

o Transfer from existing FCNR / NRE accounts of same person

Repartiation

Funds held in this account including interest earned thereon are fully repatriable.

Joint Accounts

The account can be opened jointly with two or more non-resident Indians only. Joint account with Resident
Indian is not permitted.

Tax Benefits

Income by way of interest earned on these deposits is exempted from Income Tax. Balances held in these
accounts are free from Wealth Tax.

Nomiation Facility
Nomination facility is available for FCNR(B) deposits.

Funding of Account

You can open FCNR deposit Account by:

o Remittance from abroad,

o Proceeds of Foreign Currency Notes,

o Proceeds of Travellers Cheques / Personal cheques / Drafts,

o Transfer from your existing NRE / FCNR account.

Facilities for home bound Indians

 An NRI, who has stayed abroad continuously for at least one year, is permitted to maintain his
investments in bank deposits, shares, securities, business and immovable properties abroad, for a
period of 9 years even after his permanent return to India.

 Eligibility to open a Resident Foreign Currency Account (RFC).

 NRIs returning permanently, after a continuous stay of minimum one year abroad, can open
Resident Foreign Currency Accounts with banks in India. NRIs returning after less than one year
should obtain RBI's permission for opening such accounts.

Resident Foreign Currency Account

 This is a scheme permitting persons of Indian nationality or origin who have returned to India for
permanent settlement (Returning Indians) after being resident outside India for a continuous period
of not less than one year to open foreign currency accounts against the proceeds held in NRE/FCNR
accounts or funds remitted from abroad.

 You can open Current, Savings and Term Deposit Accounts under the RFC Scheme. However, you
will not be given a cheque book facility on the RFC Savings/Current Account. The account can be
maintained in any currency such as USD, GBP, DEM, JPY, EURO etc.

Permitted Credit

o Amounts of Foreign Exchange Assets including deposits with banks outside India, investments in
foreign currency such as shares and securities and immovable property outside India acquired or
held while you were resident outside India.

o Balances standing to the credit of NRE/FCNR accounts together with interest due thereon.
 o Amount of Foreign Currency Notes and Travellers cheques brought at the time of returning to India.
Currency Declaration Form (CDF) is required if the foreign currency notes exceed USD 5000 or
value of travelers cheques and notes exceeds USD 10,00.

o Dividend /Income or sale proceeds of overseas foreign currency assets.

o Pension from abroad.

Permiited Debit

o Expenses for education abroad,

o Family travel,

o Medical expenses,

o Other bonafide purpose permissible under the exchange control regulations,

o Bank charges,

o Transfer to other Foreign Currency Account of the depositor himself and

o All local payments.

o Nomination facility is available for RFC deposit accounts.

Inward Remittance

The procedure for funds transfer/inward remittance is simple. All you have to do is instruct your bankers (in
the country of remittance - e.g. USA) as under: Remit USD--- to BANK OF NEW YORK, NEW YORK (SWIFT
CODE IRVTUS3N) for credit to A/c No. 803-3165-537 of BANK OF MAHARASHTRA, Mumbai for further credit
to NRE A/c No. --- of ---- with ---- Branch, ---- India.

Swift Code of Bank of Maharashtra is "MAHBINBB".

To facilitate quick and safe transfer of funds, we maintain our accounts with 18 banks all over the world. The
list of these correspondent banks with their addresses and our account details are included in the remittance
message:

1. Name and address of our correspondent bank abroad and corresponding SWIFT Code.

2. Amount required.

3. Our account number as mentioned in the enclosed list.

4. Your name and account details.

5. Name of our branch where you have the account.

For opening an account with us all you have to do is download and fill the Account Opening Form and submit
the same at any of our branches.

Kindly get the form and the passport copies attested by an official from INDIAN EMBASSY/HIGH
COMMISSION/CONSULATE NOTARY/CURRENT BANKERS.

Area of Opoeration

22 states and 2 union territoris

It doesn’t have branches in

Assam

Arunanchal

Manipur

Mizram

Nagaland

Sikkim

Tripura

Ownership Pattern

71% government

29% public

Competitor information

Company Name : State Bank of India

State Bank of India (SBI) (NSE: SBIN, BSE: 500112, LSE: SBID) is the largest state-
owned banking and financial services company in India. The bank traces its ancestry to British India,
through the Imperial Bank of India, to the founding in 1806 of the Bank of Calcutta, making it the oldest
commercial bank in the Indian Subcontinent. Bank of Madras merged into the other two presidency
banks, Bank of Calcutta and Bank of Bombay to form Imperial Bank of India, which in turn became State
Bank of India. The government of India nationalized the Imperial Bank of India in 1955, with the Reserve
Bank of India taking a 60% stake, and renamed it the State Bank of India. In 2008, the government took
over the stake held by the Reserve Bank of India.

SBI provides a range of banking products through its vast network of branches in India and overseas,
including products aimed at non-resident Indians(NRIs). The State Bank Group, with over 16,000
branches, has the largest banking branch network in India. With an asset base of $352 billion and $285
billion in deposits, it is a regional banking behemoth. It has a market share among Indian commercial
banks of about 20% in deposits and advances, and SBI accounts for almost one-fifth of the nation's loans.

The State Bank of India is the 29th most reputed company in the world according to Forbes.[3] Also SBI is
the only bank to get featured in the coveted "top 10 brands of India" list in an annual survey conducted by
Brand Finance and The Economic Times in 2010.

Oriental Bank of Commerce

Oriental Bank of Commerce, established on 19 February, 1943, in Lahore (then a city of British India,
and currently in Pakistan), is one of the public sector banks in India.

The bank was nationalized on 15th April, 1980. At that time total working of the bank was Rs.483 crores
having 19th position among the 20 nationalised banks. Within a decade the bank turned into one of the
most efficient and best performing banks of India.

The bank has progressed on several fronts crossing the Business Mix mark of Rs 2 lacs crores as on 31st
March 2010 making it the seventh largest Public Sector Bank in India, achievement of 100% CBS,
reorienting of lending strategy through Large & Mid Corporates and establishment of new wings viz.,
Rural Development and Retail & Priority Sector. The Bank has to its utmost credit lowest staff cost with
highest productivity in the Indian banking industry.

IDBI Bank Ltd

The Industrial Development Bank of India Limited (IDBI) (BSE: 500116) is one of India's leading
public sector banks and 4th largest Bank in overall ratings. RBI categorised IDBI as an "other public
sector bank". It was established in 1964 by an Act of Parliament to provide credit and other facilities for
the development of the fledgling Indian industry.[1] It is currently 10th largest development bank in the
world in terms of reach with 1300 ATMs, 758 branches and 513 centers.[2] Some of the institutions built by
IDBI are the National Stock Exchange of India (NSE), the National Securities Depository Services
Ltd (NSDL), the Stock Holding Corporation of India (SHCIL), the Credit Analysis & Research Ltd,
the Export-Import Bank of India(Exim Bank), the Small Industries Development bank of India(SIDBI),
the Entrepreneurship Development Institute of India, and IDBI BANK, which today is owned by the Indian
Government, though for a brief period it was a private scheduled bank.

To meet emerging challenges and to keep up with reforms in financial sector, IDBI has taken steps to
reshape its role from a development finance institution to a commercial institution. With theIndustrial
Development Bank (Transfer of Undertaking and Repeal) Act, 2003, IDBI attained the status of a limited
company viz. "Industrial Development Bank of India Limited" (IDBIL). Subsequently, the Reserve Bank of
India (RBI) issued the requisite notification on 30 September 2004 incorporating IDBI as a 'scheduled
bank' under the RBI Act, 1934. Consequently, IDBI, formally entered the portals of banking business as
IDBIL from 1 October 2004.

The commercial banking arm, IDBI BANK, was merged into IDBI. In March 2008, IDBI Bank entered into
a joint venture with Federal Bank and Fortis Insurance International to form IDBI Fortis Life Insurance, of
which IDBI Bank owns 48 percent. The company ended the year with over 300 Cr in premiums as on 31
March 2009.

Punjab National Bank

Punjab National Bank (PNB ) (BSE: 532461, NSE: PNB), is the third largest bank in India. It was
registered on May 19, 1894 under the Indian Companies Act with its office in Anarkali Bazaar Lahore.
Today, the Bank is the second largest state owned commercial bank inIndia with about 5000 branches
across 764 cities. It serves over 37 million customers. The bank has been ranked 248th biggest bank in
the world by theBankers Almanac, London. The bank's total assets for financial year 2007 were about
US$60 billion. PNB has a banking subsidiary in the UK, as well as branches in Hong Kong, Dubai
and Kabul, and representative offices in Almaty, Dubai, Oslo, and Shanghai.

Punjab National Bank is one of the Big Four Banks of India, along with ICICI Bank, State Bank of
India and Canara Bank .

Infrastructure Facilities

Human Resource Development: The Bank has put in place a

comprehensive HRM Policy Document that provides road map for
acquiring need based and appropriate human resource, its
development and retention through training , job enrichment,
reward, recognition and accountability for performance, career
progression and welfare.

Training Activities
The bank has a training system which facilitates to regular
periodic assessment of skill gaps at various levels in relation to
existing and emerging business opportunity, skill building in
credit, forex, customer relationship management, marketing of
service and products.

Information Technology

The bank has been leveraging the tools of information and

communication technology for improving the operational
capabilities and customer service.

Awards and Recognition

Work flow model

Future growth and prospectus

To cross the Business Level of Rs.100,000/- Crores by March 2011. 19.84% Growth in Savings Bank
Deposits and average Saving Deposits growth rate of 17.69%. 19.65% Growth in Current Deposits and
average Current Deposits growth rate of 17.29 Systematic approach for reducing Net NPA level to below
1% 64 Branches are proposed to be opened at new business centres and 3 extension counters to be
converted into full fledged branches. 4 Currency Chests to be opened. ATM network to be increased from
345 to 500 Biometric ATMs to be introduced at selected branches. Introduction of Internet banking,
Mobile banking and Phone banking. SHGs with special reference to agriculture to be promoted and
financing be implemented so as to increase financing to small and marginal farmers. Financial Inclusion
to the unbanked section of the population.

Swot Analysis

Strength

Brand Name and Trust

Wide Network
Weakness

Hierarchal management structure

Delay in Sanctioning Loan

Threats

Intense competition.

Increasing level of NPA in Core Sectors

Opportunities

Expansion of Customer base by leveraging technology to enhance

customer satisfaction

Robust Cash Recovery and Reduction in NPA Level.