Bank of Maharashtra Receives RBI Approval to Establish Branch in GIFT City:
The Reserve Bank of India (RBI) has granted permission to the Bank of Maharashtra (BoM) to set up a branch in Gujarat International Finance Tec-City (GIFT City). This strategic move aims to enhance BoM’s offshore banking operations from India, aligning with the bank’s expansion plans in the region.With the new branch in GIFT City, BoM is poised to significantly boost its business in Gujarat. The bank currently operates 101 branches in the state and has set an ambitious target to increase its business by 25%, aiming to surpass ₹15,000 crore by the second quarter of the financial year 2024-25.
