Pune: Finance Minister Nirmala Sitharaman Graces Celebration Of Bank Of Maharashtra’s 90th Foundation Day

Bank of Maharashtra (BoM) marked a significant milestone by celebrating its 90th Foundation Day recently, an event that honoured its illustrious past and provided insight into its future endeavours. Finance Minister Nirmala Sitharaman was the chief guest at the event. Key dignitaries in attendance included M Nagaraju, Secretary of the Department of Financial Services, Government of India. The 90th Foundation Day featured the announcement of several initiatives aimed at strengthening the bank's industry position and expanding its influence.

The celebration highlighted BoM’s commitment to new initiatives in both business and corporate social responsibility, underscoring the bank’s ongoing efforts to support MSMEs, promote financial inclusion, and contribute to environmental sustainability.

In her keynote address, Sitharaman expressed her satisfaction with the bank's efforts to foster good governance and inclusivity, as demonstrated by its recent initiatives. She praised the bank’s strong financial performance, noting that BoM leads in key parameters among public sector banks.

She also observed that the bank had fulfilled one of the recent budget announcements by developing a product for MSMEs, where funding was based on their digital footprints. Referring to the success of UPI, introduced in April 2016, she pointed out that 45% of the world's real-time digital payments now occur in India. She commended BoM for leveraging these digital footprints to drive business growth and economic progress.

M Nagaraju, Secretary of the Department of Financial Services, praised the bank’s staff for their consistent performance and encouraged the institution to continue integrating risk management systems, maintaining a robust cybersecurity posture, and adopting innovative digital strategies to provide top-class customer service.

BoM’s MD & CEO, Nidhu Saxena, expressed heartfelt gratitude to all employees, past and present, for their unwavering dedication in shaping the bank into an institution of national importance. "Your commitment has laid the foundation for our success. As we move toward our centenary, the journey ahead is filled with even greater achievements," he said.

"Our goal is to be recognised as the leading digital and customer-centric bank for all generations. Through innovation, we will achieve growth with profitability while maintaining a strong foundation in risk management and compliance," Saxena concluded.