Bank of Maharashtra hit the news when the scam of Rs.2000 crore was revealed alongside the DSK Group of Pune. Six people were arrested by the police in this regards. The Bank of Maharashtra was struck hard by such a huge loss and to cope with the loss the bank decided to close 51 branches across the urban area that was enlisted for cost-cutting measures. This will take effect from 1st of October 2018. Banks that are being closed will be merged with the neighboring banks. This is the first time the Public sector bank took such a measure. The bank has 1900 branches all over the county.
The branches that are being closed down 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).
List of Bank Branches that are being closed and merged with-
The IFSC Code and MICR Code of the banks are canceled by the RBI and all the Savings, Current and other bank account are transferred to the nearby branches. The bank has directed the customer to submit their cheque book issued by the closed branch and collect their new cheque book from the new branch. The Bank of Maharashtra also mentioned as the old branch is closed therefore the ISFS/MICR code associated to the bank is also canceled and will be permanently discontinued by 31 December and customer hence should conduct all their banking operation form their new IFSC/MICR code.
