Guwahati, 17 Dec (KNN) The Bank of Maharashtra hosted a retail and MSME outreach program at Guwahati on Wednesday.

It facilitated sanctions amounting to INR 52 crore to the retail and MSME customers, as published in Nagaland Post. 

Vijayakumar, the Execuive Director of Bank of Maharashtra addressed the outreach programme, and said that in continuation of its strategy of branch expansion to add impetus to its business growth, Bank of Maharashtra will establish five more Branches in North East Region (NER) this fiscal. 

He also announced that, Bank of Maharashtra is also planning to set up a new zonal office at Guwahati by the end of June 2022 to especially tap the potential in the region and for better monitoring of the branches in NER.

Through the proposed zonal office, Bank of Maharashtra is looking to expand the existing business by three fold from existing INR 1400 crore to INR 4200 crore within one year in the region.

“The bank’s products which are most competitive and currently the credit to deposit ratio of Bank of Maharashtra is more than 150 per cent in comparison to the average credit to deposit ratio which is approximately 40 per cent in the region,” said the executive director.

Vijayakumar further added Bank of Maharashtra sees ample business opportunity in North East Region and there has been good support from existing as well as potential customers.  Bank is also supported well from all the states in NER having projects with good cash flow and fundamentally sound business prospects. 

Sanjay Rudra, general manager, corporate credit while addressing the event said Bank of Maharashtra has the widest tailored product base in the offering for various categories and has remained a pillar of support in strengthening the MSMEs with highest growth in terms of financing to MSMEs. Bank has brought slew of changes in its product base to fit into the market scenario and will continue to do so in future at most competitive pricing.

Dilip Kumar Raulo, Zonal Manager, Bank of Maharashtra Kolkata zone, Bank of Maharashtra officials from Kohima and Dimapur also attended outreach Programme.