Bank of Maharashtra deserves to keep independent identity: Outgoing chief

The central government is scanning for merger and amalgamation opportunities among state-owned lenders

Central government-owned Bank of Maharashtra (BoM) is on the mend and deserves to continue operating as a separate entity, not be merged into bigger and other lenders, says its outgoing managing director (MD).    

The bank is presently under the Prompt Corrective Action (PCA) clamp of the Reserve Bank of India (RBI), for having seen an undue rise in stressed loans.  

Ravindra Marathe, the outgoing MD and chief executive officer (Thursday was his last day in this office), was asked by this publication if there was a business case for BoM to remain a separate entity, in the backdrop of