BoM makes strategic meets in Tamil Nadu, to be part of State's industrial growth

Mumbai (Maharashtra) [India], April 7 (/PNN): Bank of Maharashtra a premier public sector bank in the country, is making strategic meets with various key departments and stakeholders of Tamil Nadu state, to leverage its services through its wide network of Branches in the state. A B Vijayakumar, Executive Director, Bank of Maharashtra led the strategic meets with Policy makers of the state spearheading various key departments, Confederation of Indian Industry, Hindustan Chamber of Commerce and entrepreneurs and representatives of various leading business houses from MSMEs, Healthcare, Food processing, Manufacturing, Chemical industries etc. Nagendar Goud, Zonal Manager, Bank of Maharashtra, Chennai Zone, along with bank's team were also part of the meet.

A B Vijayakumar, Executive Director, Bank of Maharashtra on the ongoing strategic meets of the Bank said, "Bank of Maharashtra has crossed the milestone Rs 4 Trillion business figures in FY-23 with 30 per cent growth in advances during FY -23, which indeed is truly noteworthy in Bank's journey. This historic milestone has been supported thoroughly by Bank's expansion of footprints across the country, and transformation driven through digitization measures. Bank's Branch network has crossed 2200 in FY-23 with more than 21 per cent growth in Total business for FY-23.

A B Vijayakumar on the Bank's road ahead opined, "We envisage to have at least one branch in all the 757 districts of the country to have sustainable holistic growth. Bank is proactively arranging outreach programs across the country to make our customers avail of our array of tailored products with bottomed-out pricing.

Bank is making all-out efforts on facilitating the Government's Social security schemes and flagship schemes to the people at the bottom of the pyramid to make them self-reliant. There has been a series of tailored products being introduced by bank to strengthen the MSMEs. Our Co-lending and digital lending measures along with TReDS platform are strengthening our MSMEs and giving them a hassle-free banking experience."

Vijayakumar, Executive Director, BoM, on the opportunities in Tamil Nadu state stated, "Tamil Nadu being one of the major contributors of the Indian GDP remains in the forefront in our business expansion plan and we shall constantly leverage our Business opportunities here while catering best services to the people of the state. Bank of Maharashtra has a total presence of 67 branches in Tamil Nadu state with a business of more than Rs 10,600 crores and Bank is further planning to open around 7 more Branches to strengthen the branch network across the state by June 2023. We are thankful to the policymakers of the state who are ready to proactively engage with us and giving us the opportunity for serving the people of the state in major areas viz. infrastructure development, housing, and urban development, leveraging TReDS platform for MSMEs, outreach to small industries partnering with state Govt., engaging with the start-up ecosystem in the state.

With the expansion of further networks and the introduction of start-up branches in Tamil Nadu state in the future, Bank is eyeing major opportunities to become an integral pillar of the State's growth. Bank has recently had a path-breaking moment in its journey by launching its first-ever start-up branch at Pune with a further plan to have dedicated branches for start-ups in Chennai, Mumbai and New Delhi, where we shall contribute to the start-up ecosystem strongly."

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