Bank of Maharashtra — Important, 08-04-2025: Disclosure of material issue

The Government of India has initiated the amalgamation of Maharashtra Gramin Bank and Vidharbha Konkan Gramin Bank into a single Regional Rural Bank, to be named Maharashtra Gramin Bank. This transition will take effect from May 1, 2025. The newly formed bank will be sponsored by Bank of Maharashtra and Bank of India, with its headquarters located in Chhatrapati Sambhajinagar. This consolidation may enhance operational efficiency and market presence, leading to a stronger competitive edge within the regional banking sector. Investors should monitor the development for potential positive impacts on the bank's strategy and service offerings.