Bank of Maharashtra has adopted early bad loan recognition tools to strengthen its balance sheet even as it celebrated its 88th Business Commencement day at its headquarters in Pune.

The learning model tool can alert in advance when a borrowal account is moving to special mention account (SMA 0), which is when the principal and the interest payment is delayed even before 30 days. This is expected to reduce potential stress in its retail, agriculture and MSME portfolios. 

The state-owned bank has also adopted a private cloud infrastructure by launching “MAHABANK NAKSHATRA”. The bank’s own private cloud platform facilitates high- performance cloud capabilities for digital infrastructure and hosting applications of the bank.

“There has been a voyage of transformation which the bank has gone through, adopting digitisation and commitment to bring in further technological advancement. With new generation technology, the bank is committed to create an ecosystem facilitating best banking experience,” said Bank of Maharashtra managing director and chief executive officer AS Rajeev.

Bank of Maharashtra has launched a unique mobile app called ARJUN (Automated Remote Junction for Monitoring of Assets Under Stress), which will facilitate availability snapshot of stressed asset (SMA & slippages) portfolio to bank staff and ‘feat on street’ (FOT) on this tip with analysis to identify the daily variation in stressed asset portfolio with recovery suggestions. 

To further strengthen the recovery mechanism, the bank launched Mykase - Legal case tracking software which will be able to fetch all the cases in various courts of India which are online where Bank of Maharashtra is a party. The software will be able to track pan India legal case and generate order copy on a real time basis. To strengthen its compliance structure, it has also launched compliance testing software to enhance compliance culture in the bank.

Bank of Maharashtra has been strengthening its digital channels to have more customer centricity.

“The bank is in progressive path and digitisation is considered as key driver of the growth. New age technology like Artificial Intelligence (AI), Machine Learning ( ML) and Robotic Process Automation (RPA) is being implemented among others to augur ease of doing business for the customer as well as staff,” said Bank of Maharashtra executive director Asheesh Pandey.

Though Bank of Maharashtra was founded on 16 September 1935, it commenced its business activities only from 6 February 1936.