INDEX

Sr. No. Chapter Name Page No.

1. INTRODUCTION TO FINANCIALSERVICES 1

2. RESEARCH METHODOLOGY 6

3. THEORETICAL FRAMEWORK 8

′ COMPANY PROFILE
′ SERVICES OFFERED

4. DATA ANALYSIS & INTERPRETAION 45

5. CONCLUSION 53

6. BIBLIOGRAPHY 54

7. ANNEXURE 55

1
 Chapter1

INTRODUCTION TO FINANCIAL SERVICES

Financial services are the economic services provided by the finance industry, which
encompasses a broad range of organizations that manage money, including credit
unions,banks, credit card companies, insurance companies, accountancy companies,
consumer finance companies, stock brokerages, investment funds and some
government sponsoredenterprises.
As of 2004, the financial services industry represented 20% of the market
capitalization of the S&P 500 in the United States.[1] The U.S. finance industry
comprised only 10% of totalnon-farm business profits in 1947, but it grew to 50% by
2010.[2] Over the same period, finance industry income as a proportion of GDP rose
from 2.5% to 7.5%, and the finance industry's proportion of all corporate income rose
from 10% to 20%.

History of financial services

The term "financial services" became more prevalent in the United States partly as a
result ofthe Gramm-Leach-Bliley Act of the late 1990s, which enabled different types
of companies operating in the U.S. financial services industry at that time to merge.
Companies usually have two distinct approaches to this new type of business. One
approach would be a bank which simply buys an insurance company or an investment
bank, keeps the original brands of the acquired firm, and adds the acquisition to its
holding company simply to diversify its earnings. Outside the U.S. (e.g., in Japan),
non-financial services companies are permitted within the holding company. In this
scenario, each company still looks independent, and has its own customers, etc. In the
other style, a bank would simply create itsown brokerage division or insurance division
and attempt to sell those products to its own existing customers, with incentives for
combining all things with one company.

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Types of Financial Services:

′ Commercial banking services:

A "commercial bank" is what is commonly referred to as simply a "bank". The term

"commercial" is used to distinguish it from an "investment bank," a type of financial
servicesentity which, instead of lending money directly to a business, helps businesses
raise money from other firms in the form of bonds (debt) or stock (equity).

The primary operations of banks include:

• Keeping money safe while also allowing withdrawals when needed

• Issuance of checkbooks so that bills can be paid and other kinds of payments
can bedelivered by post

• Provide personal loans, commercial loans, and mortgage loans (typically

loans topurchase a home, property or business)

• Issuance of credit cards and processing of credit card transactions and billing

• Issuance of debit cards for use as a substitute for checks

• Allow financial transactions at branches or by using Automatic

TellerMachines (ATMs)

• Provide wire transfers of funds and Electronic fund transfers between banks

• Facilitation of standing orders and direct debits, so payments for bills can be
madeautomatically

• Provide overdraft agreements for the temporary advancement of the Bank's

own money to meet monthly spending commitments of a customer in their
current account.

• Provide internet banking system to facilitate the customers to view and

operate theirrespective accounts through internet.

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• Provide Charge card advances of the Bank's own money for customers
wishing tosettle credit advances monthly.

• Provide a check guaranteed by the Bank itself and prepaid by the customer,
such asa cashier's check or certified check.

• Notary service for financial and other documents

• Accepting the deposits from customer and provide the credit facilities to them.

• Sell Investment products like Mutual funds etc.

′ Investment banking services

Capital markets services - underwriting debt and equity, assist company deals
(advisoryservices, underwriting, mergers and acquisitions and advisory fees), and
restructure debt intostructured finance products.

Private banking - Private banks provide banking services exclusively to high-net-

worthindividuals. Many financial services firms require a person or family to have
a certain minimum net worth to qualify for private banking services. private banks
often provide more personal services, such as wealth management and tax
planning, than normal retailbanks.

Brokerage services - facilitating the buying and selling of financial securities

between abuyer and a seller.

′ Foreign exchange services

Foreign exchange services are provided by many banks and specialist foreign
exchangebrokers around the world. Foreign exchange services include:

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• Currency exchange - where clients can purchase and sell foreign
currencybanknotes.

• Wire transfer - where clients can send funds to international banks abroad.

• Remittance - where client that are migrant workers send money back to their
homecountry.
′ Investment services

• Asset management - the term usually given to describe companies which

run collective investment funds. Also refers to services provided by others,
generally registered with the Securities and Exchange Commission as Registered
Investment Advisors. Investment banking financial services focus on creating
capital through clientinvestments.

• Hedge fund management - Hedge funds often employ the services of

"primebrokerage" divisions at major investment banks to execute their
trades.

• Custody services - the safe-keeping and processing of the world's securities

tradesand servicing the associated portfolios. Assets under custody in the world
are approximately US$100 trillion.
′ Insurance

• Insurance brokerage - Insurance brokers shop for insurance (generally

corporate property and casualty insurance) on behalf of customers. Recently a
number of websiteshave been created to give consumers basic price comparisons
for services such as insurance, causing controversy within the industry.

• Insurance underwriting - Personal lines insurance underwriters actually

underwriteinsurance for individuals, a service still offered primarily through
agents, insurance brokers, and stock brokers. Underwriters may also offer similar
commercial lines of coverage for businesses. Activities include insurance and
annuities, life insurance, retirement insurance, health insurance, andproperty &
casualty insurance.

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• Reinsurance - Reinsurance is insurance sold to insurers themselves, to
protect themfrom catastrophic losses.

′ Other financial services

• Bank cards - include both credit cards and debit cards. Bank Of America
is thelargest issuer of bank cards.

• Credit card machine services and networks - Companies which provide

credit cardmachine and payment networks call themselves "merchant card
providers".

• Intermediation or advisory services - These services involve stock brokers

(private client services) and discount brokers. Stock brokers assist investors in
buying or selling shares. Primarily internet-based companies are often referred to as
discount brokerages, although many now have branch offices to assist clients.
These brokerages primarily target individual investors. Full service and private
client firms primarily assist and execute trades for clients with large amounts of
capital to invest, such as large companies,wealthy individuals, and investment
management funds.

• Private equity - Private equity funds are typically closed-end funds, which
usually take controlling equity stakes in businesses that are either private, or taken
private once acquired. Private equity funds often use leveraged buyouts (LBOs) to
acquire the firms inwhich they invest. The most successful private equity funds can
generate returns significantly higher than provided by the equity markets.

• Venture capital is a type of private equity capital typically provided by

professional,outside investors to new, high-potential-growth companies in the
interest of taking the company to an IPO or trade sale of the business.

• Angel investment - An angel investor or angel (known as a business angel or

informal investor in Europe), is an affluent individual who provides capital for a
businessstart-up, usually in exchange for convertible debt or ownership equity. A
small but

6
 increasing number of angel investors organize themselves into angel groups or
angelnetworks to share research and pool their investment capital.

• Conglomerates - A financial services company such as a universal bank that is

activein more than one sector of the financial services market e.g. life insurance,
general insurance, health insurance, asset management, retail banking, wholesale
banking, investment banking, etc. A key rationale for the existence of such
businesses is the existence of diversification benefits that are present when
different types of businesses are aggregated i.e. bad things don't always happen at
the same time. As a
consequence, economic capital for a conglomerate is usually substantially
lessthan economic capital is for the sum of its parts.

• Financial market utilities - Organisations that are part of the

infrastructure offinancial services, such as stock exchanges, clearing
houses, derivative and
commodity exchanges and payment systems such as real-time gross settlement
systemsor interbank networks.

• Debt resolution is a consumer service that assists individuals that have too
much debtto pay off as requested, but do not want to file bankruptcy and wish to
pay off their debts owed. This debt can be accrued in various ways including but
not limited to personal loans, credit cards or in some cases merchant accounts.

CHAPTER 2.
RESEARCH METHODOLOGY

Objectives:
′ To understand the concept of Financial Services and its practical applicability at
Bankof Maharashtra.
′ To evaluate the future prospects of Financial Services in Bank of Maharashtra.
′ To find out the benefits of Financial Services to the bank & customers.
′ To study the various types of financial services by Bank of Maharashtra.

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 ′ To study & research the views of customers towards the financial services
provided by Bank of Maharashtra.

Research:
Research is a matter of gathering information from varying sources usually in relation
to aspecific topic and for a specific purpose. The definition of research includes any
gatheringof data, information and facts for the advancement of knowledge.

Data Collection Method:

ς Primary Data:
The primary data are data, which are being collected by the researcher for the
specificpurpose of answering the problem on hand.
Primary data is collected through:
• Discussion with the bank manager and bank employees.
• Filling up of the questionnaire from the random people.
•
ς Secondary Data:
Literature study and the articles are obtaining secondary data from the Internet. The
secondary data was collected on the basis of organizational file, official records,
newspapers, magazines, management books, preserved information in the company’s
database and websiteof the company.

Secondary data is collected through:

• From various books, websites, magazines, bank brochures etc.

Research is a diligent and systematic inquiry or investigation into a subject in order to

discover or revise facts, theories, applications, etc. Methodology is the system of
methods followed by particular discipline. Thus research methodology is the way on
we conducts ourresearch.

8
 SAMPLE Random People
SUBJECT Financial Services of Bank Of Maharashtra
SAMPLE SIZE 20
DATA SOURCE Survey
METHOD Convenience Sampling
INSTRUMENT Questionnaire

SAMPLING METHOD – CONVENIENCE:

It is used in exploratory research where the researcher is interested in getting an
inexpensiveapproximation of the truth. As the name implies, the sample is selected
because they are convenient. This non-probability method is often used during
preliminary research efforts toget a gross estimate of the results, without incurring the
cost or time required to select a random sample.

CHAPTER 3.
THEORETICAL FRAMEWORK

COMPANY PROFILE:

Bank Of Maharashtra is a major bank of Maharashtra, India, registered on 16

September 1935 with an authorised capital of 1 million. It commenced business on 8
February 1936.
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Known as a common man's bank since its inception, the bank's initial financial
assistance to small units has given birth to many of today's industrial houses. After
nationalisation in 1969,the bank expanded rapidly. The Bank has the largest network of
branches by any Public sector bank in the state of Maharashtra.

The Bank was founded by a group of visionaries led by the late V. G. Kale and the late
D. K.Sathe and registered as a Banking Company on 16 September 1935 at Pune.
Today, Bank ofMaharashtra has over 15 million customers across the length and
breadth of the country served through 1825 branches in 29 states and 2 union
territories.

The Bank attained autonomous status in 1998. As a result, the bank has limited
interferenceof Government bureaucracy in its decision making process and internal
affairs.
Bank is the convener of the State Level Bankers Committee. Bank offers Depository
servicesand Demat facilities at 131 branches. Bank has a tie up with LIC of India and
United India Insurance company for sale of Insurance policies. Bank has achieved
100% CBS enabling anytime anywhere banking to its customers.

Vision:

To be a vibrant, forward looking, techno-savvy, customer centric bank serving diverse

sections of the society, enhancing shareholders’ and employees’ value while moving
towardsglobal presence.

Mission:
To ensure quick and efficient response to customer expectations.

To innovate products and services to cater to diverse sections of

society.To adopt latest technology on a continuous basis.

To build proactive, professional and involved workforce.

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To enhance the shareholders’ wealth through best practices and corporate

governance.To enter international arena through branch network.

To be a vibrant, forward looking, techno-savvy, customer centric bank serving diverse

sections of the society, enhancing shareholders' and employees' value while moving
towardsglobal presence.

Board of Directors

No. Name Designation

1. Shri.C VR Rajendran Executive Director
2. Shri. R. Athmaram Executive Director
3. Mrs.KamalaRajan Director
4. Dr. D.S Patel Director
5. Dr. S.U. Deshpande Director
6. Shri. Ateesh Singh Director
7. Shri.Ramesh C. Agrawal Director
8. Dr.Naresh Kumar Drall Director
9. Dr.RajkumarAgrawal Director
10. Shri. RamadevSaydiwal Director
11. Shri. Sanjeev Jain Director

Corporate Social Respnsibility(CSR):

Bank of Maharashtra has donated Rs. 2.00 lakhs to ShriApangVikasMandalSaswad.
Bank of Maharashtra Contributed Rs. 251.00 lakhs towards Chief Minister’s Relief
Fund (Drought - 2013) for Drought Relief.
Solar Street Light donated for Barabanki District, UP- Under CSR activities.
Bank's Rural Development Centres at Hadapsar and Bhigwan are undertaking vaious
developmental activities for the benefit of the famers vi. Lab to Land project,
reuse / rehabilitation of Saline Soil and advice on scientific use of inputs for
optimum results.
Ceiling fan donated by Branch manager Loni (Varud) Branch, Amravati Zone
to ZilaParishad Girls Primary School Yevda as a part of CSR activity. Bank has
donatedRs.15000/- to improve hygiene and basic amenities to 551 Govt.
primary schools.

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 Achievements& Initiatives:

Achievements -
Bank of Maharashtra has won 4 awards in “The Sunday Standard Best
Bankers Award 2013” in the following categories:-
• Best Indian Banker (large)
• Best Public Sector Banker (large)
• Best Banker -Customer Friendliness (large)
• Best Banker -Efficiency & Profitability (large)

Bank of Maharashtra Grabbed 7 IPE BFSI Awards in 2nd IPE Banking

FinancialServices and Insurance award.

Bank of Maharashtra has been felicitated as a Best Public Sector Bank in

India atthe Dun & Bradstreet- Polaris Financial Technology Awards 2013
under the category 'Asset Quality'.

Bank of Maharashtra has been awarded "Business Excellence in Banking

Award 2013" by Time Research

Bank of Maharashtra has been Awarded "Special Award for Best IT Team"
among Public Sector Banks - By IDRBT Banking Technology Excellence
Award 2013

Bank of Maharashtra has been awarded the "Best Banker in

Customer Friendliness" by The Sunday Standard FINWIZ 2012

Initiatives:
′ Crossed the Business Level of `1,88,000 cr
′ Opened almost 4 lakh new Current & Saving.
′ accounts excluding basic saving accounts in the June Quarter
′ Opened 28 branches branches in first quarter quarter of the Fiscal 2013-14 taking total
number of branch outlets to1756
′ Opened 6 new branches in rural areas fostering financial inclusion.
′ Acceptance of Maharashtra Govt. Taxes across counter at all the branches

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SERVICES OFFERED BY BANK:

ς 1.Mahabank gold coin

ς 2.Atm services

ς 3.Credit card

ς 4.Bancasurance

ς 5.Mutual funds

ς 6.E-banking

ς 7. Western Union Money Transfer facitity

ς 8.capital market application(ASBA) (Application Supported by Blocked Amount)

ς 9.Demat services

ς 10.ASBA-plus

ς 11.maha bill pay

ς 12. RTGS/ NEFT (Real Time Gross Settlement) and (National Electronic
FundsTransfer)

ς 13.maha E-trade

ς 14. MahabankSwasthyaYojna

ς 15. MahaSurakshaYojana

ς 16. MahaGrihaSuraksha

ς 17. New Pension Scheme

ς 18. Door Step Banking

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  Mahabank gold coin

Bank of Maharashtra sells Pure Gold which is 24 carat and 999.9 pure Certicards with
an Assay Certification. Bankof Maharashtra offers sale of Gold Coins in the
denominations of 2g, 5 g, 8 g, 10 g, in round shapes and 20 g . 50g , 100 g in
Rectangular Bar Shape well packedin transparent, tamper-proof packing. Bank of
Maharashtra Gold Coins are imported from PAMP refinery (Switzerland) which is one
of the most trusted and reputed Gold refinery in the world.

Features:

 24 carat, 999.9 Pure Gold

 Bank of Maharashtra offers Pure Gold Coins in the denominations of 2 g, 5 g, 8 g, 10 g,

Available in:

Round Shape with Deity Goddess Laxmi& without Deity and 20 g, 50 g.

100 g inRectangular Bar Shape

Standard:

 Packed in Temper-proof packing & visible through packing

Purpose:

 A trusted avenue for Investment and Savings

 Gift for special occasions and festivals

 Corporate Gift for employees/ achievers/ high value clients

Price:

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 Gold Coins are competitively priced based on the daily prices in the international
bullionmarket. The

price is inclusive of customs duty and other charges but excluding Vat/ST/ Local Taxes.

Availability:

 Gold Coins are available at over 102 branches across the country in denominations
of 2 g,5 g, 8 g, 10g. , 20 g , 50 g , 100 g (Subject to availability)

 ATM (Automatic teller machine)

Salient features of our ATM Card

• Mahabank Visa Debit card gives you the freedom to access your savings at

any Visaaccredited Merchant Establishment or ATM.

• This card allows you to purchase goods at retail outlets and withdraw
cash fromATMs in India and abroad.

• Direct on line debit to your savings account.

• Round the clock cash withdrawal facility up to Rs 20000/-

• No joining fees.

• Completely safe and secure.

Additional Information

• The maximum limit for cash withdrawal is fixed at Rs.10,000/- for other
Bank cardholders/customers at this Mahabank ATMs.

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 • The maximum limit for cash withdrawal using Mahabank ATM card holders on
otherBank ATMs is also restricted to Rs.10,000/-

• The free cash withdrawal transactions on other Bank ATMs are restricted to
five percalendar month for Mahabank ATM card holders.

• After five free cash withdrawal transactions from saving accounts through other
BankATMs, each cash withdrawal transaction is chargeable @Rs.20/- per cash
withdrawaltransaction.

• All cash withdrawal transactions from current accounts through other Bank
ATMs arechargeable @Rs.20/- per cash withdrawal.

 Demat services

Bank of Maharashtra is a Depository Participant (DP) of CDSL since 1999.

Services rendered

Services rendered are for holding / transferring / pledging of securities such as shares /
Debentures / Bonds / Commercial Papers/ UTI units / etc (known as securities) in
electronic form (Dematerialized form).

No dealing in commodities exchange is undertaken.

Functions

♠ Dematerialisation (conversion into electronic form) of securities in physical form.

♠ Rematerialisation (conversion to physical form) of Securities held in demat account.

♠ Effecting deliveries from demat accounts.

♠ Getting credits into the demat accounts when transferred from other accounts.

♠ Modification of accounts for change of address / Bank account details /

nominee /power of attorney.

16
 ♠ Pledge / unpledge of securities, where the securities remain in the account of
pledgorbut are blocked in favour of pledgee. For pledge both pledgor&
pledgee must have accounts in CDSL, though with different DPs.

♠ Freeze / unfreeze of Account or specific securities.

Facilities

♠ Debits to accounts are effected under instructions from clients.

♠ On line inter depository transfers are allowed on real time basis i.e. within few
minutes of processing of instruction.

♠ Credit receipts are automatic. No instruction is required to receive credit.

However if client desires, automatic credits can be blocked and can be effected
only underinstructions.

♠ There is easy method of pledging securities for loans from Bank. Under the
method securities are retained in the accounts of pledgor under block in favour of
pledgee (Bank). At instruction of pledgee (Bank branch) the securities can be
released (unpledged) or transferred (confiscated) into account of pledgee. All
corporate benefits of dividends / bonus etc are availed by pledgor during pledge.

♠ Freeze of securities for debit or credit or for both can be undertaken.

♠ Transmission (death claim settlements) to surviving holder(s) or Nominee (incase

of death of all holders) is allowed.

♠ SMS Alert facility on account positions & security transfers are available.

♠ A facility known as “EASI” (Electronic Access to Security Information) is

available free of charge to view account position through Internet.

♠ A facility known as “EASIEST” (Electronic Access to Security Information &

Execution of Security Transactions) is available at nominal cost to execute delivery
transactions with help of e-token (Digital Signature Certificate).

17
 ♠ Transaction cum holding statement is sent on monthly basis for accounts having
transaction during the month and quarterly holding statement for all accounts.

♠ Dividends are credited directly to the bank account (as referred in the Demat account).

♠ Demat service charges are recovered directly from the charge bank account referred.

♠ Delivery instructions slips can be deposited at the parent branch where bank
accountis maintained.

♠ With one time execution of fax indemnity (Rs 200/- stamp) instructions slip
can befaxed followed by ensuring original to reach within two days.

Charges

♠ The charges (excluding service tax) for demat services applicable as on

date ( 1stJanuary 2008) are as under:

Bank
Activity Description
Charges
Account maintenance For individual / HUF / Trust 300 p.a.
(Upfront basis added to the
For staff accounts 150 p.a.
bill March )
Accounts other than above 800 p.a.
Settlement charges For CM Principal / USA each 500 p.m.
Only for CM Accounts
For CM Clearing Account 1000 p.m.
Debit to BO account For all modes of delivery 25 per trxn
Commission 2 / 25
Demat of physical Per Certi /
Postage per set up 25
Minimum
Postage for return (additional) 25
Pledge charges applied to Pledge 50 per ISIN
pledgor after acceptance. Unpledge 50 per ISIN
Invocation 50 per ISIN
Remat charges Per 100 sec or part thereof / per certificate 15 / 15 + 75

18
 which ever is higher + handling incl postage
Late entry charge In addition to normal charge 50 per trxn
Clint Master report (DPE-4) in two copies 25
DIS slip book Issue No charge but postal actual Actual
Additional transaction Other than the usual sent on monthly basis 25 per month
statements requested. per case
Out of pocket expenses for despatch & delivery of requested items to be recovered.

 Distribution of mutual funds

Bank of Maharashtra offers scope for investment in Mutual Fund

At present bank is in association with 16 Mutual Fund companies.

The following Mutual Funds and prominent schemes of respective funds are
shortlisted asper their track record and performance in the market.

Sr.
Name of the Mutual Fund Scheme Name
No.
1 SBI Mutual Fund Magnum Equity Fund
Magnum Secured Umbrella Fund
2 UTI Mutual Fund UTI Dividend Fund
UTI Opportunity Fund
UTI Master Value Fund
3 Franklin Templeton Mutual Franklin India Blue-chip Fund
Fund Franklin India Flexi Cap Fund
FT India Dynamic PE Ratio Fund of Funds
4 HDFC Mutual Fund HDFC Equity Fund

19
 HDFC Mid Cap opportunities Fund
HDFC Tax Saver
5 Birla Sun life Mutual Fund Birla Sun Life Frontline Equity
Birla Sun life Dividend Plus
Birla Sun life 95
6 Reliance MF Reliance Vision Fund
Reliance Equity Opportunities Fund
Reliance Growth Fund
7 LIC Nomura Mutual Fund ULIS- an open end –ended insurance linked tax savings
scheme
8 Reliance Mutual Fund Reliance Equity Opportunities Fund, Reliance Regular
Saving Fund and Reliance Tax Saver Fund (ELSS)

 Capital Market Application ( ASBA )

ASBA (Application Supported by Blocked Amount)

List of Designated Branches for Accepting ASBA Application

An Investor friendly way to apply for Primary markets & Keep earning interest
without parting your money until stocks are allotted.
What is ASBA:

• ASBA means “Application Supported by Blocked Amount”, enables investors

to apply for IPOs / FPOs and rights issues without making a payment. Instead,
the amount is blocked in investors' own account and only an amount
proportionate to theshares allotted goes out when allotment is finalized.

• It is a supplementary process of applying in initial public offers (IPO), right issues

20
 and follow on public offers (FPO) made through book building route and
co-existswith the current process of using cheque as a mode of payment and
submitting applications.

• Bank is providing this value added service free of costs for issues with book
buildingat BSE.

Eligibility of Investors:

1. An application can have up to three bid options & it can be revised also. The
lien willbe marked on the highest value of the three bids.

2. Bids at cut-off price allowed only if total application Amt is less than or equal
to Rs.2,00,000 for investor category of Individual, Employee, Share holders.

3. One account can be blocked for maximum five applications in an IPO.

4. Revision and cancellation of bids for retail individual investors are permitted
till theissue closure date and time. However for investors other than Retail,
the revision is not permitted on the last day beyond 4 P.M.

Such investors are referred as “ASBA investors”, at the time of submitting ASBA
application the investors should take utmost care to provide the correct -

• PAN

• DP ID

• Client ID

• Bid Quantity

• 11 digits Bank Account number (Saving / Current)

Benefits of ASBA to Investors:

21
 • The investor need not pay the application money by cheque rather block
his/her bankaccount to the extent of the application money, thus continue to
earn interest on application money.

• The investor does not have to bother about refunds, as in ASBA only an
amount proportionate to the securities allotted is taken from the bank
account when his/herapplication is selected for allotment after the basis of
allotment is finalized.

• The application form is simpler.

• The investor deals with the known intermediary i.e. his/her own bank.

ASBA process operates in accordance with the SEBI's guidelines in force from time to time.

Avail the ASBA facility through our Designated Branches Pan India.

Categories of Investors in ASBA:

Sr.
Investor (client) Category
No.
1. FIIs other than Individuals or corporate
2. Mutual Funds
3. Insurance Company
4. Banks and FIs
5. Other QIBs
6. Bodies Corporate
NII - others (All entities other than QIBs, Bodies Corporate and
7.
Individuals)
RIIs (Individuals applying uptoRs 1 lakhs) as well as
8.
individuals/HUFs, Trusts etc. applying for not more than Rs 1 lakhs)
9. Employees
10. Shareholders

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  EXECUTOR , TRUSTEE AND ATTORNEY

A successful Banker deals not only with deposits and advances. He deals primarily
with persons and should be closely associated with the clients affairs as a friend &
guide. He should take active part in welfare of the community and be a part of the
society he serves.

In some measure Bank Of Maharashtra has been fulfilling this objective through THE
MAHARASHTRA EXECUTOR & TRUSTEE CO. LTD started in 1946 as a fully
ownedsubsidiary.

You can entrust the work as an Executor & or Trustee of your will, private trust or
PublicTrust or as Attorney to manage your property.

1. Executor of Will

• You can consult us for preparing your will. We will draft the will for
you asper your wishes and keep safe custody of it.

• We undertake the complex job of executing your will

• We realize and collect your property after you from Banks,

Companies, Mutual Funds, Unit Trust etc. by complying with
varying formalities &procedures.

• We hold it for the benefit of your near and dear as per your wishes
ensuringproper utilization and perseverance with full care and
prudence.

• Ultimately repose it in the hands of those whom you desire, for

fulfilling yourwishes in true sense.

• All this without any hassles and hush that may be associated with a
entrustingthis work to any individual be it your relative or a best friend.

23
 • We being an institution do it with expertise

• Systematically

• Continuously

• without prejudice

• without outside influences

• with full organizational support

2. Management of Private Trust

You may be wishing to keep aside part of your property for the benefit of your
dependents during your lifetime and after you. But
you feel that your dependents may not take proper care of the properties due to
mental incapacity, physical disability, insufficient age etc.
You can create Private Trust for the purpose & arrange for proper care of the
property. You can also keep effective control during your lifetime & after as per
your directions.

• We guide you for formation of such Private Trust

• We act as Managing Trustee of such trusts as sole Managing Trustee

or withother Advisory Trustees.

As Trustee

• We keep custody of your property

• We invest, reinvest, collect, interest / dividends

24
 • We make periodical payments

• We pay for special requirements &

• We ultimately distribute property as per Trust deed.

3. Management of Public Charitable Trusts

At times you desire to donate part of your estate for the benevolent objects for
socialcause manifesting your deep sense of gratitude & social commitment.

For this you wish to have permanent arrangement.

You can settle a Public Charitable Trust for fulfilling these objectives.

• We guide you for formation of Public Charitable Trust.

• We draft Trust Deed for you.

• We register it with Charity Commissioner

• We obtain recognition for the Trust under Income Tax Act

• We keep accounts and get them audited annually.

• We file periodical returns and statements with concerned authorities

• We call meetings of the Advisory Trustees and maintain minute book.

Thus we relieve you of the burden of all technical and

financialformalities required under statute free to
serve social cause.

We being an institution have perpetual succession and hence best suited to

manageand carry on the objectives of the Trust which is also perpetual.

25
4. Management of Investments and House Properties as Attorney

When you are miles away from your mother and motherland you are in need of
somebody who will take care of your properties movable and immovable. You
wantto ensure its benefit for your beloved parents relieving them of the burden
of managing them and maintaining them.

For this you can give us power of attorney to manage your property.

As your Attorney we undertake the following

work.We arrange to,

• Keep safe custody of your securities

• To collect rent and interest

• To invest and reinvest surplus as per your directions

• To pay taxes

• To pay other outgoings such as telephone bills, electricity bills society

chargesetc.

• To maintain the house property by undertaking general repairs for

wear andtear.

We give these services to all especially old aged persons at their doorsteps
with careand love.

5. Guardianship of Minors' Property

We take care of minors property when they have unfortunately lost their
parents. Weact as Court Guardian and manage the property of minors till they
attain majority under the directions of the Court.

26
 All these services are available at very economical rates, that too with
assurance forefficient services to your satisfaction.

 RTGS/NEFT

RTGS (Real Time Gross Settlement) and NEFT (National Electronic Funds
Transfer)

The RTGS and NEFT facility has been made available for customers to transfer fund
fromone Bank to another Bank at all Branches of our Bank. The RTGS and NEFT
funds transferfacility has also been available for Internet Banking Customers of our
Bank.

The timings for RTGS and NEFT transactions are as given below:

Particulars RTGS NEFT

1) Customer Transactions 9.00 AM to 4.30 PM from 9.00 AM to 7.00 PM from

Monday to Friday for Monday to Friday for
settlement at RBI settlement at RBI

9.00 AM to 1.30 PM on 9.00 AM to 1.00 PM on

Saturday for settlement at RBI Saturday for settlement at RBI

2) Inter-Bank Transactions 9.00 AM to 6.00 PM from --

Monday to Friday for
settlement at RBI

9.00 AM to 3.00 PM on
Saturday for settlement at RBI

27
Note: The settlement for NEFT transactions takes place every hour during time window
mentioned above.

The minimum amount for customer transactions through RTGS is Rs.2 Lakhs while
there isno amount restriction for NEFT transactions. In RTGS both Customer and Inter-
Bank transactions are permitted whereas in NEFT only Customer transactions are
permitted.

As per the RBI guidelines applicable from 1st January 2011, the funds transferred
through RTGS, NEFT will be credited to beneficiary account on only the basis of
Beneficiary accountnumber. Therefore, the originator of transaction will have to ensure
that the correct Beneficiary Account number has been written in the Funds Transfer
Application Form.

 Mahabank –swasthayojana

Eligibility :All individuals in the age group of 5 yrs. to 65 years.

Deposit :Initial Deposit as applicable to Savings Bank Deposit

A/c.Eligibility for Insurance Cover :

Primary account holders, spouse, children and dependant parents.

Age Limit :

• 5 years to 65 years without medical examination.

• Children between 3 months and 5 years can be covered provided one or both
parentsare covered concurrently.

• Upper age limit upto 80 years only on renewals.

What is Covered :

Minimum Rs. 50,000 and in multiples of Rs. 50,000, Maximum Rs. 5 lacs.

28
Sum Assured :

Various hospitalization expenses for medical / surgical treatment arising out of any
disease / illness / accident including pre-hospitalization expenses for specified period.
Optional- Personal Accident (death only) is also covered.

Policy Period :

• 12 months

• Risk to commence from date of D.D. / P.O.

Nomination :

Facility is available.

Income Tax Rebate :

Available u/s. 80 D of IT Act.

Cash Less Facility :

Through TPA is available

 Mahagrihasuraksha scheme

Life insurance cover along with home loan

MahaGrihaSuraksha Scheme provides life insurance cover to the Housing loan

borrowers ofthe Bank through LIC. To cover the outstanding balance of Loan amount.
Premium is payable

29
in single installment and depends on the age at entry of the borrower, loan amount to be
covered and the term loan.

• Cover will be available up to 65 years of age.

• Minimum and Maximum age at the time of entry is 18 years and 60 years
respectively.

• Minimum and Maximum term of assurance is 3 years and 25 years respectively.

• A minimum and Maximum loan which can be covered are Rs. 50,000/- and
Rs. 1Crore respectively.

• No medical check-up for age upto 45 Years and loan amount Rs. 5 lakhs

 E - Payment of Taxes

E - Payment of Taxes -

E-Payment of taxes is online payment of Tax using your BOM Account through Bank
ofMaharashtra's Mahaconnect i.e. internet banking facility.

Using ePayment facility you can pay your Service Tax, Excise Duty, Income Tax, TDS,
TCS,Wealth Tax, Hotel receipt Tax, VAT / Sales Tax (State of Maharashtra ).

E - Payment Prerequisites -

You should have BOM Internet Banking facility i.e. User id and passwords issued by
BOMto use Mahaconnect (Internet Banking) facility.

You must be registered with Tax authorities and should have a valid PAN/TAN (for
DirectTaxes) or a Assessee Code issued by Excise Dept (for Indirect Taxes)

30
  Mahabank - Door Step Banking Services

Features & Benefits of Door Step Banking Services

Bank of Maharashtra is offering a convenience of Banking at your

Doorstep.The Door Step Banking service is extended from the designated

branch only.

Customers those with proper KYC procedures can avail Door Step Banking Services.

Customers have to pre-register for this scheme & have to sign an agreement with the
bank foravailing this Service.

a. Services will be offered to

Corporate Customers / Government Departments/ PSUs, Individual Customers /

Naturalpersons etc.

b. Types of Services available:

I) Pick up of cash & Instruments.

II) Pick up of instrument.

III) Delivery of cash at Door Step.

Following Two Types of Option will be available for Cash Pick –up & Delivery.

31
a) On Call Service option:

The customer to inform the bank as per specific requirement.

b) Beat Pick up Service option:

The customer to register for daily

service.Benefits to the Customers

Customer can avail service from Office/Home

Dedicated Service agency for cash pick up & delivery of cash

Highly secured & safe Service and Nominal Bank service

Charges.

 Discontinuation of MahaSwarna RD Yojana

In view of restriction imposed by RBI on import of GoldCoin, there is no stock of Gold

coin in the Bank. It has been decided to discontinueMahaSwarna RD Yojanaand nofresh
MahaSwarna RD will be opened. The existing accounts underMahaSwarnaRD Yojana
may be continued like general RD Scheme and on maturity;maturity amount will be paid
as per contracted rate of interest. Customers are informed accordingly.

 Credit card

Bank of Maharashtra - SBI Credit Card

"A CREDIT CARD YOU CAN TRUST TWICE OVER"

Get the power in your pocket with Bank of Maharashtra - SBI co-branded Credit
Card. Itwill bridge the gap between wanting and having. Bank of Maharashtra in
association with SBI card offers Globally accepted credit card - exclusively to its
customers.

32
2 forms
• Sbi card
• Sbi platinum card

 Bancassurance
With the commitment to customers’ convenience, the Bank has tied up with
insurancecompanies so that customers can avail of insurance service at the
branches.

We are the corporate agent of the Life Insurance Corporation of India for
distribution oftheir life insurance products.

In non-life sector, our Bank is the corporate agent of United Insurance company for
thedistribution of their non life insurance products.

Both our insurance partners offer a wide range of insurance products, which are
availableat our branches as a result of our Banassuanace tie ups.

This is another value addition for our customers in their banking relationship with us.

 Western Union Money Transfer Facility : For foreign inward

Remittance

Bank has a tie up arrangement with M/s. Weizmann Forex Ltd. for facilitating the
services ofremittance of foreign exchange to the customers through Western Union
Money Transfer

33
business since October 2005.

Western Union Money Transfer (WUMT) is a safe, reliable, legal and convenient way
of transferring and receiving money worldwide (in India we can only receive inward
remittance,as RBI does not allow outward remittance). It is a legal method of receiving
money in India as per RBI guidelines.

As all of you know the Western Union Money Transfer system is a Net-based system,
which provides on line information about any money transfer affected from overseas
location. The beneficiary can get payment of the remittance after establishing the identity
and other formalities from any of the outlets of Western Union.

Process of application:

Under WUMT system, the remitter goes to the Western Union outlet at the sending
location (overseas), completes the remittance formalities, hand over money for
remittance and getsthe Money Transfer Control Number (MTCN). The MTCN (number)
is informed by him to the beneficiary in India, who visits Western Union’s authorized
agent i.e. Bom Branch for payment.

Money transfer procedure:

There are two stages for transfer of money to complete the cycle. The first stage is at the
remitter’s place, a function that is outside the scope of Western Union agents in India.
No outward remittances whatsoever, trade and non-individual remittances are allowed
by WU agents as per the RBI directives. Therefore bank / designated branches are
concerned with theprocessing of inward remittances only which are in the shape of non-
trade transactions and also on ‘individual to individual’ basis. The designated branches
role is thus confined to “receive country side”.

 Maha ASBA Plus – for Corporates/ Institutions

Eligible Customers :

34
Corporate Houses/ Institutional Investors such as LIC/GIC/Mutual Fund Companies.

Minimum amount of deposit :

Rs. 50 Lakhs and above.

At the Time of ASBA Application :

1. The Sheetal deposit/Short Term Deposit shall be opened with the Branch where the
facility is availed with, either equivalent or more than the application amount in the IPO
in case there is no current account.

The Current Account is opened with the Branch wherein the Funds are deposited by the
Corporate/Institutions which in turn shall be converted into STDR/Sheetal for Maturity
period of Choice with minimum unit of Rs.1 instead of Rs.1000/- .

The Amount to the extent of application amount is blocked in the Sheetal/STDR.

To branches to obtain the standing instruction from the customer to break the required
unit ofSheetal Deposit to the extent of allotment amount in case of allotment of Shares
in the Sheetal Deposit/STDR Form.

Sheetal Deposit/STDR to be opened in the Units of Rs.1 instead of Rs.1000/-(at present).

The blocking and unblocking of funds in Deposit Account is done through Trickle Feed
in ASBA Module.

At the Time of allotment of Share:

For the customers having Current Account with the branch.

The system to check the balance in the Current/SB Account, In case of availability of the
sufficient balance in the account the system to debit the Current/SB account and the lien
on Sheetal/STDR gets auto released.

In case of Non availability/Insufficient Funds in the account, the system to break the number

35
of units from the Sheetal Deposit/STDR equivalent to the Share
Allotmentamount/Difference in the available balance in the account and the Share
allotment account.

The remaining units in the Sheetal Deposit if any may continue till

maturity.For the Customers not having the Current account with the

branch.

The system to break the Sheetal deposit /Short Term Deposit (STDR) units, which is
equivalent to Number of shares allotted X application money. The units to be broken to
the extent of the allotment amount. For the convenience in breaking the exact amount
the Sheetaldeposit is opened with minimum units of Rs.1.

The branches to route the amount from Sheetal deposit to the existing common Current
Account opened for administrative purpose in the branch.

The remaining units in the Sheetal Deposit if any may continue till maturity.

Penalty on Premature withdrawal:

There is no penalty on the premature withdrawal of the FD.

Period of FD:

The period of FD will be 15 Days and above.

Rate of Interest on FD:

The Rate of Interest on Deposits will be offered as special rate from time to time to be
decided by the Treasury Department.In case the allotment takes place prior to 15 days,
the broken unit will earn the interest equivalent to the no days the units were run without
prepayment penalty on premature closure. The remaining units will continue to complete
the term and earn the same rate of Interest.

On Maturity the Sheetal Deposit/ STDR will be closed and the maturity proceeds will be
paidby DD or RTGS to the Beneficiary account. In case of existing Current Account
amount will

36
be credited to Current Account.

The prospective customer may open Current Account for Receiving the Credit.

Opening of the Current Account Linked to the Sheetal Deposit /Short Term

Deposit:

The opening of current account though not mandatory for “Maha ASBA Plus” subject to
compliance ofKYC.

 Payment of utility bills through bank accounts [Maha Bill Pay]

We have launched an Electronic Bill Presentment and Payment Services presently in

Puneand Mumbai known as " MahaBillPay " in association with India Ideas.com Ltd.
better known as Bill Desk Company.

• Gist of the Scheme

• The Customer who wishes to make payment utility payments like

Electricity, Telephone Bills, etc., should apply through the branch and
get registered underthe scheme. The Bill Desk Company for easy
identification will provide each customer with unique registration
number.

• Bill Desk Company would accordingly obtain the bills details of the
registeredcustomers from the Utility providers like MSEB, BSNL etc.

• The list of customers with bill details whose bills have fallen due for
payment,will be sent to the branch

• Branches on receipt of the payment list would debit the account

of thecustomer concerned accordingly.

37
• Other Features

• When the customer is registered with the scheme, the details of the
customerare informed to the utility providers. The latter would print
the special message in the bills of the customer concerned to the effect
that the bill is under the scheme.

• In addition, the Company will also contact the customer for

paymentinstruction.

• At present the following payments are accepted and the list may be
expandedin due course when the Bill Desk Company enter into
agreement with new utility providers:

♠ Mumbai

♠ BSES.

♠ MTNL.

♠ Hughes Telecom.

♠ BPL Mobile.

♠ Orange

♠ Airtel.

♠ LIC

♠ ICICI Prudential.

♠ OM Kotak Mahindra Life Insurance.

♠ Birla Sun Life Insurance.

38
 ♠ SBI Life Insurance.

♠ Mahanagar Gas.

♠ BOBCARDS

♠ BOB DP.

♠ CRY.

♠ Pune

♠ MSEB.

♠ Hughes Telecom.

♠ IDEA.

♠ LIC.

♠ ICICI Prudential.

♠ OM Kotak Mahindra Life Insurance.

♠ Birla Sun Life Insurance.

♠ SBI Life Insurance.

♠ Nataraj Gas.

♠ BOBCARDS.

♠ CRY.

• The facilities would be available at present in the cities of Mumbai and Pune.

• All branches that participate in the clearing at the above cities can extend the

39
 above services.

• All types of account holders - individuals, firms, companies etc. can opt
to paytheir utility services bills through this scheme.

• Customers can confirm the payment of bill through the entries made
in the statement of account as well as from the subsequent bills
received. Howeverseparate receipts are sent by LIC.

• A customer may add to his registration for subsequent payments

for newutility providers.

• Physical bills would also continue to be received by the customers

from thebilling companies.

• While submitting application for registration, last bill / copy of thereof

shouldbe enclosed to ensure the correctness of details with the billing
companies. Noother documents are required.

• In case of a customer is already registered with ECS and desires to

join the above scheme, then he should first cancel his registration
under ECS beforeregistering under this scheme.

• If a customer desires to opt out of the scheme he may give instructions

accordingly in writing to the branch concerned. The facility is offered
free ofcost to the customers. However in case of unsuccessful debits
due to any reason, return charges as per rules would be debited.

• Use of the facility to the customers

The customer may select any of the following options to pay the bills:

♠ Auto Pay

The customer gives standing instruction and authorise the bank to debit his

40
 account and make payment of the bills to the Billing Company
irrespective of the bill amount. Thus the bill amount would be debited to
his account irrespective of the bill amount.

♠ Auto Pay with Upper Limit

Under this option a customer while registering for this facility, can also
specify anupper limit up to which the utility bill can be paid automatically by
debiting his account. Whenever the Bill amount exceeds the limit, then Bank
will not pay the bill and the customer needs to pay the bill on his own directly
to the Billing Company. Different upper limits can be given for various types
of service bills. Incase the customer wants the bank to pay the bill, he
should call on the bank atleast a week before the due date and authorize in
writing to pay the bill.

 MAHAeTRADE

It is safe, quick and easy….

Welcome to hassle free on-line investment and trading in shares

Bank of Maharashtra in association with

• M/s Religare Securities Limited

• M/s Reliance Securities Limited

• M/s Ventura Securities Limited

brings forward a fast, easy, transparent and hassle-free way for investing / trade in
shares insecondary capital market through National Stock Exchange and Bombay
Stock Exchange. Investment in shares traded on the NSE and BSE can be made
without having to visit your share-broker. All other associated hurdles like tracking
of settlement cycles, paying and

41
receiving funds in savings account, paying and receiving shares in Demat accounts
have beenremoved. Now from a remote location while on tour, picnic, holiday -
throughinternet and laptop / personal computer - you can also trade in the stock market.
You can have access to world class research reports, absolutely free, on trading and
investment from the Brokers’ sites. How Maha- e-Trade can help you? Maha-e-
Trade is 3-in-1 integrated account. Bank of Maharashtra helps you to integrate your
banking, demat and trading accounts.
You can trade in shares backed by funds and securities available in your bank / demat
account. Trading has been made very easy even for beginners.

Banking (Savings or Current) Account needs to be opened (if not held already) with
any ofour CBS branches and the Internet Banking Account opening form to be
submitted at the branch concerned while opening the account.

Who Can Open the Accounts

Individuals, HUF, NRI, Body Corporate (domestic or foreign), Societies, Trusts,
Foreign Institutional Investors, International multilateral Agency and Global
Custodian, Overseas Body Corporate, Banks, Foreign Nationals, Association of
Persons, Mutual Funds, Escrowaccount, Clearing Members (brokers)

*Proprietorship/Partnership firms/Unregistered Society/Private Trust can operate

ONLY IFTHE ACCOUNTS ARE OPENED IN THE NAME of proprietor /
partner(s) / society members/ 1st named trustees under individual category
(maximum three account holders)

Documents required to open Bank/Demat/Trading

Account:Address Proof & Identity Proof
* Details available on account opening

formsThree Passport size photographs

Note:

• PAN card is mandatory for all Demat/ Trading accounts as per SEBI guidelines.

42
 • All the Photocopies of supporting documents are to be signed by the
Customer andgot verified by the Bank Official

Salient Features:

• Delivery based Trading

• Intra Day Square Off

• Lien marking on funds/ securities

• No transfer of funds

• Other usual Demat Services

Login ID and Password:

After opening of trading account the broker will register the customer and send / e-
Mail theLogin Id and password to the customer to enable access to their website for
trading.

Service Charges:

Payable to Broker:
The on-line trading charges as per the Product Plan/tariff of the concerned Broker,
withwhom the Trading account is opened/ operated.
* Trading Account opening/activation charges Ranging from Rs NIL to Rs 1000/-
(based onBrokers various account schemes)
*Delivery Brokerage Ranging from 0% to 0.5%
*Intra Day Brokerage Ranging from 0% to 0.05%
(Charges based on volume of transactions and various plans of brokers)

43
Payable to Bank:
Demat Account Maintenance charges Rs 300/- p.a. for Individuals, HUF, NRIs and
Trustsand Rs 1,000/- p.a. for corporates and others. Transaction based charges extra

Details are available in this website under Service Charges.

 MahaSuraksha Scheme

Life Insurance Cover for Savings /Current/Term Deposit Account Holders

MahaSuraksha Scheme covers savings , Current and Term deposits and provides value
addition of life insurance for deposit account holders. The deposit holders of the Bank
aged between 18-59 years can avail life insurance cover under a one year Renewable
TermInsurance Plan of LIC Of India.

• Life cover of Rs. 1 lakh.

• Life Insurance coverupto 60 years of age.

• Very low premium since coverage is under group insurance.

• No medical tests required .

• Nomination facility.

• Simple payment mechanism- the premium can be debited to customers account.

• For more details please refer to H.O. Circular number

AX1/ABC/GroupInsurance/2012-13/51 dated 30.08.2012.

44
 Age Annual Premium (in Rs)
18 to 35 years 156.00
36 to 50 years 348.00
51 to 54 years 804.00
55 to 59 years 1212.00

 New Pension Scheme

What is New Pension Scheme?

¬ It is a pension scheme launched by Government of India.
¬ Save today and get monthly pension after the age of 60.
¬ Save monthly or yearly as per your Income Structure. No fixed monthly installment.

Who Can Invest?

¬ Every Citizen between the ages of 18 to 60 years at the time joining.
How much to Invest?
¬ Minimum amount Rs.500/ per contribution
¬ Minimum Contribution per year Rs. 6000/-
¬ Minimum Contributions per year -1

What is Swavalamban?
¬ Incentive offered by Government on self declaration of the subscriber being eligible
underthe scheme.
¬ In case of false declaration provision of refund of benefits with penal Interest.

Under Swavalamban
¬ Minimum Subscription amount Rs. 500/-

45
¬ Minimum Contribution per Annum Rs. 1000/-
¬ Maximum Contribution per annum Rs. 12000/-
¬ Government will contribute Rs. 1000/- per year up to 2013-2014

Investment Option
¬ 1) Active Choice : You have option to choose the category
¬ 2) Auto Choice: By default the option is selected.

Tax Benefits :
¬ Amount invested up to 1.00 lacs is eligible for exemption under 80CC

How Pension will be available

¬ On attaining age of 60 you will have to invest minimum 40% of Corpus in annuity
schemeof the service provider appointed by PFRDA.
¬ ASP appointed by PFRDA would be responsible for delivering a regular monthly pension.

 Mahabank - Collection of Direct Taxes (Under C. B. D. T.)

The work of collection of Direct Taxes was introduced in our Bank from 01-10-1998. At
present, our 179 Branches are designated for the Scheme.

Under the Scheme, the amount collected by the Designated Branch, on a day is to be
transmitted to respective Nodal Branch on the same day. The Scrolls are to be prepared
and sent to Nodal Branch, alongwithChallan on the same day, through
Courier/Messenger.

At Nodal Branch, the consolidation of the data transmitted by various Designated

Branches isdone on day to day basis. On receipt of Scrolls and Challans, It has to be
tallied with the Datatransmitted by the Collecting Branches. Duly consolidated data is to
be transmitted to our Link cell viz. GBB, Nagpur. Duly checked and tallied Scrolls
alongwithChallans are delivered to the respective Zonal Accounts Officer, CBDT. At
present, there are 9 Nodal Branches. At our Link Branch, after consolidation of the
data received from all the Nodal

46
Branches, consolidated data of Bank as a whole, is transmitted to Tax Information
Network (TIN) with C.A.S., R.B.I., Nagpur, followed by digitally signed e-mail, by
which fund settlement is done by RBI.

The system is known as OLTAS-On Line Tax Accounting System.

In this system, Error Free Data Transmission is of utmost importance, at all levels i.e.
Collecting Branch/Nodal Branch/ Link Branch.

Despatch of duly checked & tallied Scrolls and Challans to Nodal Branch on the same
day byCollecting Branch, is essential.

At Nodal Branch, delivery of Scrolls / Challans tallied with the Data

transmitted/consolidatedto respective Zonal Accounts Officer, CBDT, is important.

Designated branches should report in OLTAS site and non-authorised branches should
reportin e-seva.

Collection of Indirect Taxes (under C.B.E.C./Service Tax)

The work of collection of Direct Taxes was introduced in our Bank from 01-04-1986. At
present, our 279 Branches are designated for the Scheme. Under the Scheme, the amount
collected by the Designated Branch, on a day is to be transmitted to respective Nodal
Branch on the same day. The Scrolls are to be prepared and sent to Nodal Branch,
alongwithChallan on the same day, through Courier/Messenger.

At Nodal Branch, the consolidation of the data transmitted by various Designated

Branches isto be done on day to day basis. On receipt of Scrolls and Challans, It has to
be tallied with theData transmitted by the Collecting Branches and duly consolidated
data is to be transmittedto our Link cell, GBB Nagpur. Duly checked and tallied Scrolls
alongwithChallans are to be delivered to the respective Pay and Accounts Officer,
CBEC. At present, there are 11 Nodal Branches.

At our Link Branch, after consolidation of the data received from all the Nodal Branches,
consolidated data of Bank, as a whole, is transmitted to Tax Information Network (TIN)
with

47
C.A.S., R.B.I., Nagpur, followed by digitally signed e-mail, by which fund settlement is
donewith RBI.

The system is known as CBEC- Central Board of Excise & Custom.

In this system, Error Free Data Transmission is of utmost importance, at all levels i.e.
Collecting Branch/Nodal Branch/ Link cell.

Designated branches should report in CBEC site and non-authorised branches should
report in e-seva.

 MAHA e-Seva
Our Bank has introduced the MAHA e-Seva facility for its Customers/Non customers in
July2011. All the e-Seva facility is free to customers /non customers. Any Customer /
Non Customers of our Bank can avail the e-seva facility by filling its e-payment of Taxes
through any of the branches of our Bank.

Branches will accept all types of taxes from the customers in physical form and
subsequentlywill make the e-payment through MAHA e-Seva on behalf of the customer
through Current Account of branch which is opened for e-seva.

Government Receipts Accounting System - GRAS

Bank has introduced additional services i.e. ‘e-Payment of Taxes and Non Taxes of
‘Government Receipt Accounting System (GRAS) of Government of Maharashtra’
under theambit of e-Seva.

The customers of Bank of Maharashtra can make payment of Maharashtra State

Governmenttaxes of following government department through GRAS.

1. High Court & District Court

2. Excise

48
3. Food & Drugs Administrator

4. Transport

5. Directorate of Accounts and Treasuries

6. Inspector General of Registration and stamp

7. Cooperation, Marketing and Textiles Department (Mantralaya)

49
 CHAPTER4
DATA ANALYSIS AND INTERPRETATION

1. Are you aware about about the financial services offered by the bank?

Yes No Total
No. 16 4 20
% 80 20 100

Yes No

Intrepetation:
Out of 20 people,

50
80% of people are aware about the financial services offered by the bank.
And 20% of people were unaware about the financial services offered by the bank.

2. What kind of financial services have you used?

Internet Loans Mutual ATM Total

Banking Funds Services
No. 6 4 2 8 20
% 30 20 10 40 100

Sales

Intenet Banking Loans Mutual Funds ATM Services

Interpretation:

Out of 20 people,
30% of people have used internet
banking,20% of people have used
loan,
10% of people have used mutual funds,
And remaining 10% have used atm services.

51
 3. Which service do use frequently?

Internet Loans Mutual ATM Total

Banking Funds Services
No. 5 4 1 10 20
% 25 20 5 50 100

50

Internet Banking Loans Mutual Funds ATM Services

Interpretation:

Out of 20 people,
25% of people use internet banking
frequently, 20% of people use internet
52
banking frequently, 5% of people use
mutual funds frequently,

53
And remaining 50% of people use atm services frequently.

4. Have you opted for a loan?

Yes No Total
No. 8 12 20
% 40 60 100

Sales

Interpretation:

Out of 20 people,
40% of people have opted for loan,
And remaining 60% of people have not opted for loan.

54
 5. What kind of loan?

Loans Home Education Car Personal Others Total

No. 3 1 1 2 1 8
% 37.5 12.5 12.5 25 12.5 100

Loans

40
35
30
25
20 Loans

15
Car
10
Person
5 al
0
Home
Educa Othe
tion rs

Interpretation:

Out of 8 people,
37.5% of people have opted for home
loan,12.5% of people have opted for
education, 12.5% of people have opted
for car loan, 25% of people for

55
personal loan,
And remaining 12.5% have opted for others.

56
 6. How do you often use online services ?

Loans Often Rarely Never Total

No. 5 7 8 20
% 25 35 40 100

Online Services

40
35
30
Online Services
25
20
15
10
5
0
Often Rarely Never

Interpretation:

Out of 20 people,
25% of people use online service
often, 35% of people use online
service rarely,
And remaining 40% of people have never used online services.

57
 7. Are you satisfied with services by bank?

Satisfied Dissatisfied Total

No. 17 3 20
% 85 15 100

Satisfaction

Satisfied Dissatisfied

Interpretation:

Out of 20 people,
85% of people are satisfied with services provided by bank,
Remaining 15% of people are dissatisfied with financial services provided by the bank

58
 8. How would you describe financial services in one word?

Excellent Good Average Bad Total

No. 3 10 5 2 20
% 15 50 25 10 100

Excellent Good Average Bad

Interpretation:

Out of 20 people,
15% of people describes financial services as
excellent,50% of people describes it as good,
While 25% of people describr it as average,
And remaining 10% of people describe financial services as bad.

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 CHAPTER 5
CONCLUSIO
N

Out of the 20 people ,about 80% of people are aware about the financial
services.And the remaining not.
People are better aware about the financial services provided by the bank,and thus
makes theUse more friendly.
And among all it is the atm services that is used mostly among the people.
Also 40% of people have opted for a loan.among it 37.5% of people have
opted forhomeloan.
Around 25% of people use internet services oftenly.
And the vital thing is that of 85% of people are satisfied by the services provided by the bank.
So concluding thus it can be said that people are generally much aware
about thefinancial services and thus enjoys the benefits in the form of better
service provided.
It’s a better sign in the coming future for india as india is becoming one of the leading
countries and the growth is seen as compared to the pre 1991 period.

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 CHAPTER6
BIBLIOGRAPHY

WEBSITES:
1. www.Bank of
maharashtra.in
2.www.investopedia.co
m

BOOKS:
1. Management of Banking and Financial Services
2. Financial Services by MY Khan

61
 CHAPTE
R 7.
ANNEXU
RE

QUESTIONNAIRE TO RANDOM PEOPLE

“To find out the perception of the persons about financial services in banking
”Dear Respondent
I, the student of BYTCO COLLEGE , am conducting an analysis on financial
services by bank ofMaharashtra. I would be highly appreciated and also thankful if
you could help us
by providing your valuable remarks on following questions. I assure you of
confidentiality ofthe input you provide to us.
Name of Respondent:
Age:

1. Are you aware about about the financial services offered by the
bank?Yes No

2. What kind of financial services do you use?

Internet Mutual
BankingATM Funds
Services Loans

3. Which service do use frequently?

Internet Banking Mutual Funds
ATM Services Loans
4. Have you opted for a loan?
62
 Yes No
5. What kind of loan?
Home Education

63
 Perso Car
nal
Others

6. How do you often use online services?

Often Rarely
Never
7. Are you satisfied with services by bank?
Yes No

8. How would you describe financial services in one

word? Excellent Good
Average Bad

64