Bank of Maharashtra unveils Comprehensive Suite of New Products and Services

PNN

Mumbai (Maharashtra) [India], December 22: Bank of Maharashtra, a premiere public sector bank in the country, celebrated Maha Parivartan Diwas on 19th December showcasing its commitment to digital innovations to meet diverse needs of its customers. BoM introduced a comprehensive range of cutting-edge products and services designed to redefine the banking experience.

While unveiling the new products and services, A S Rajeev, MD & CEO, Bank of Maharashtra said, "In our pursuit of redefining the banking landscape, Bank of Maharashtra is taking robust strides through the introduction of cutting-edge range of products and services that transform the banking experience for our customers. In this era of rapid digital change, we aim to expand our products and services with an aim to provide an enriching experience to our customers and the society at large."

Asheesh Pandey, Executive Director, Bank of Maharashtra said," With the launch of more than 100 innovative products and services across diverse platforms such as Mobile Banking, Internet Banking, WhatsApp Banking, Credit Card services, and a spectrum of Digital Products, coupled with Operational upgradations and targeted initiatives for the MSME & Retail segment, the Bank is moving forward with its vision to pioneer innovations that resonates with the evolving needs of our customers. In today's age of rapid digital advancements, data analytics coupled with customer centricity are the keys that can beat any competition."

Rohit Rishi, Executive Director, Bank of Maharashtra said," By surpassing customer needs, we solidify our position to be a dynamic and customer-centric financial institution. From advancing digital capabilities to nurturing traditional skills, our endeavours aim towards holistic development for the communities we serve. We believe that these offerings will provide our customers with greater convenience and accessibility ultimately enhancing their banking experience. Our objective is to foster growth of the Indian economy by creating an environment where both modern as well as customary financial practices develop seamlessly.

Bank launched STP (Straight Through Process) journeys in PMSVANidhi and Digital Mudra schemes and automated renewal of Working Capital Limits for MSME borrowers upto Rs.10.00 lakhs thereby simplifying the credit renewal process for continuous financial support without the need of visiting branch.

In order to increase customer convenience, the Bank has launched a virtual debit card, opening of e-FD (e-Fixed Deposits) and e-RD (e-Recurring Deposits) and Positive Pay System (PPS) on its mobile banking platform. It also implemented an Online Dispute Resolution (ODR) platform via Mobile and Internet Banking for swift dispute resolution of digital transactions, self-enrolment options for internet banking customers, online PPF account opening, Updation of KYC, application for insurance policies among many other schemes were added to its Internet Banking platform for greater convenience to its customers.

To effectively cater to new-age banking users, the Bank has enhanced features on its WhatsApp banking service (+91-7066036640) such as customers can now warmlist, hotlist, and modify debit card limits for various channels such as POS, E-commerce and ATM through WhatsApp Banking along with that customers can now access detailed information about existing Fixed Deposits including their value, term, rate of interest and maturing data along with the option of downloading a CIF based consolidated PDF format of all deposit and loan accounts providing a 360-degree insight of all accounts of customers with the Bank WhatsApp Banking platform.

For efficient transactions, the Bank simplified the process of sending Domestic Letter of Credits (LCs) and Bank Guarantees (BGs) through SWIFT and launched special schemes such as Mahabank Equipment Finance & a scheme to extend finance to units engaged in growing and manufacturing of Lab Grown Diamonds in a move to support MSME Enterprises and promote economic development. Other schemes such as PM Vishwakarma Scheme and Maha Mahila Unnati aim to strengthen products and services offered by artisans and empower women-led enterprises.

With the launch of a plethora of products and services, the Bank of Maharashtra reaffirms its commitment to provide its customers with the best possible banking experience. This launch marks a significant milestone for the Bank of Maharashtra as it continues to transform its operations and services to cater to the evolving needs of its customers in the digital age. By embracing innovation, leveraging technology, and understanding the evolving needs of its diverse customer base, the bank is well-positioned to continue on its journey of growth and success. For more information, kindly visit the website visit www.bankofmaharashtra.in

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