State-owned Bank of Maharashtra (BoM) announced that it has decided to offer the customers’ doorstep banking services (DSBs) at 100 centers through its 555 branches across the country.
Finance Minister Nirmala Sitharaman, last month had announced the launch of doorstep banking services led by state-run lenders. The objective is to provide the convenience of banking services to customers at their doorstep through touchpoints of web portal, call center, or mobile app.
BoM has started offering non-financial banking services which include pick-up of negotiable instruments (draft, pay order and cheque), TDS and Form 16 certificate issuance application, new checkbook requisition slips, and 15G/15H forms as stated in an official release.
BoM’s Executive Director Hemant Tamta said in a release that DSB will provide the customers with another opportunity to avail non- financial services at their doorstep. Divyang and senior citizens must avoid visiting branches during the COVID-19 pandemic by using DSB services as an alternative. The bank also stated that the services will include Form 16 certificate, term deposit receipt, delivery of account statements, and non-personalized checkbook.
In 2018, The Department of Financial Services had undertaken a reform of EASE (Enhanced Access and Service Excellence) where doorstep banking is a part of it.
Bank of Maharashtra is a major public sector bank operating in India. 87.4% of shares of the bank are held by the government of India. The bank has almost 15 million customers around the country with 1,898 branches as of April 2016. They had the largest network of branches in the state of Maharashtra among the public sector banks at that time. V.G Kale and D.K in Pune are the founders of BoM. The bank got its registration on 16 September 1935 with an authorized capital of US $1million. The bank became operational on 8 February 1936. They gave birth to many industrial houses and provided financial assistance to small businesses. The bank expanded rapidly after the nationalization in 1969. The bank has its headquarters situated in Pune. A.S. Rajeev is the current Managing Director and CEO of Bank of Maharashtra. Their main products include corporate banking, consumer banking, investment banking, finance, and insurance, private banking, mortgage loans, savings, private equity, asset management, securities, credit cards, wealth management, etc.