Bank of Maharashtra is a prominent nationalized public sector bank in India, established on September 16, 1935, in Pune by V.G. Kale and D.K. Sathe. It became operational on February 8, 1936, with an initial authorized capital of $1 million. The bank was nationalized in 1969 and is currently owned by the Ministry of Finance, Government of India.
The bank boasts the largest network of branches among nationalized banks in Maharashtra, with over 2,022 branches as of March 2022, serving approximately 29 million customers nationwide. It offers a wide range of services, including personal banking, retail loans, cash management, corporate loans, foreign exchange services, and specialized banking for sectors such as agriculture and MSME (Micro, Small, and Medium Enterprises).
In terms of technological advancements, Bank of Maharashtra has made significant strides in implementing technology solutions. It achieved full Core Banking Solution (CBS) across its branches by February 2010 and continues to enhance its digital offerings with services like mobile banking and various loan schemes.
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Find Out Which Banks Will Remain Shut Tomorrow Following Ajit Pawar’s Demise
The city of Pune and the state of Maharashtra are observing a period of collective mourning following the death of Deputy Chief Minister Ajit Pawar in a plane crash near Baramati. As a result, the Maharashtra government has announced three days of state mourning, during which all government offices, courts, and public institutions will remain closed. This includes banks, schools, and colleges, which will be closed on January 29, 2026.
Public sector banks, such as State Bank of India, Bank of Maharashtra, and Central Bank of India, will be closed, while private banks may keep limited branches operational. However, ATMs, mobile banking apps, and online payment platforms will continue to function, covering nearly 70% of Pune’s daily retail transactions.
The plane crash occurred on January 27, 2026, when a chartered Learjet 45 attempted an emergency landing at Baramati airport but lost control and caught fire, resulting in the deaths of five people. The Directorate General of Civil Aviation (DGCA) has begun a formal technical probe into the incident.
The closure of banks and schools comes at a sensitive time, as it is the end of the month and many people are expecting salary credits, loan repayments, and business settlements. Customers are advised to rely on online banking, UPI platforms, and ATMs to manage their urgent needs and reschedule branch visits accordingly.
The Maharashtra government has declared state mourning fewer than ten times in the last three decades, reflecting the significance of this loss. Chief Minister Devendra Fadnavis has described Ajit Pawar as a leader deeply rooted in grassroots politics and credited him with shaping key infrastructure and irrigation projects.
A list of bank holidays in Pune for the year has been released, which includes holidays on January 26 (Republic Day), February 14 (Second Saturday), and March 3 (Holi), among others. The list also includes holidays for festivals such as Maha Shivaratri, Chhatrapati Shivaji Maharaj Jayanti, and Gudi Padwa.
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