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Scam-hit Bank Of Maharashtra shuts 51 branches to cut costs

By The Assam Tribune
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PUNE (Maharashtra), Oct 4: The scam-hit public sector bank, Bank Of Maharashtra (BoM), on Wednesday announced the closure of 51 branches across the country as part of cost-cutting measures, an official said.

The BoM had hit headlines after Maharashtra police had nabbed its Chairman-cum-Managing Director Ravindra Marathe and five others for the alleged Rs 2,043-crore scam involving the prominent realtor, DSK Group of Pune.

From October 1, the 51 branches - all in urban centres across India which have been identified for the cost-cutting action - were closed and declared non-viable and incurring huge losses, said the official of the Pune-headquartered bank.

The branches shut are in: Thane (7), Mumbai (6), Pune (5), Jaipur (4), Nashik and Bengaluru (3 each), Amravati, Latur, Aurangabad, Jalgaon, Nagpur, Satara, Hyderabad and Chennai (2 each), NOIDA, Kolkata, Chandigarh, Raipur, Goa, Solapur, Kolhapur (1 each). - IANS

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Scam-hit Bank Of Maharashtra shuts 51 branches to cut costs

PUNE (Maharashtra), Oct 4: The scam-hit public sector bank, Bank Of Maharashtra (BoM), on Wednesday announced the closure of 51 branches across the country as part of cost-cutting measures, an official said.

The BoM had hit headlines after Maharashtra police had nabbed its Chairman-cum-Managing Director Ravindra Marathe and five others for the alleged Rs 2,043-crore scam involving the prominent realtor, DSK Group of Pune.

From October 1, the 51 branches - all in urban centres across India which have been identified for the cost-cutting action - were closed and declared non-viable and incurring huge losses, said the official of the Pune-headquartered bank.

The branches shut are in: Thane (7), Mumbai (6), Pune (5), Jaipur (4), Nashik and Bengaluru (3 each), Amravati, Latur, Aurangabad, Jalgaon, Nagpur, Satara, Hyderabad and Chennai (2 each), NOIDA, Kolkata, Chandigarh, Raipur, Goa, Solapur, Kolhapur (1 each). - IANS

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