Bank of Maharashtra (MAHABANK) has submitted its Business Responsibility and Sustainability Report (BRSR) for the financial year 2024-25 to the stock exchanges on June 7, 2025, as per SEBI regulations. The report, also available on the Bank's website, provides comprehensive disclosures on its environmental, social, and governance (ESG) performance and commitments.
Key highlights from the report include:
- The Bank's paid-up capital stood at ₹7691.55 Crores and its turnover was ₹28401.62 Crores with a net worth of ₹25880.52 Crores for FY 2024-25.
- It operates 2489 national offices and offers 100% financial services, including retail, corporate, and international banking.
- As of March 31, 2025, the Bank had 14596 permanent employees, with a gender diversity ratio of 28% female employees. The overall employee turnover rate for permanent employees in FY 2024-25 was 4.71%.
- The Bank reported nil customer complaints and nil employee complaints for FY 2024-25. It received 8 shareholder complaints, all resolved.
- During FY 2024-25, the Bank paid penalties totaling ₹1,32,16,177.58 to RBI for deficiencies in customer services (Bank Credit, UCCI, KYC in small accounts) and ₹75,000.00 to NPCI for AEPS Technical decline.
- The report details material responsible business conduct issues, including risks related to data privacy, business continuity, ethical behaviour, and regulatory compliance, along with opportunities in financial inclusion and ESG oversight.
- The Bank generated 2,52,630 kWh of electricity through solar panels in FY25 and is committed to improving asset quality, leveraging technology, reducing costs, and enhancing customer experience for long-term sustainability.