Bank of Maharashtra turns 72

Bank of Maharashtra, which was registered on September 16, 1935 with an authorised capital of Rs 10 lakh, celebrated its 73rd foundation day on Monday. The bank launched two new schemes to coincide with its Foundation Day. The Maha Suraksha Deposit Scheme provides life insurance to savings/current/term deposit account holders between 18 and 59 years of age, under a one-year renewable term insurance plan of LIC of India. The Maha Grih Suraksha Scheme provides life insurance cover to the housing loan borrowers of the bank through LIC under “Group Mortgage Redemption Assurance Scheme” (GMRA).