BOM Full Form

by Yogi P - October 5, 2023

Full form of BOM

BOM stands for Bank of Maharashtra, a major public sector bank in India. It is owned by the Ministry of Finance of the Government of India. As of March 2022, the bank has over 29 million customers nationwide with 2,022 branches. It has the largest network of branches in the state of Maharashtra of any other public sector banking system.

A brief history of BOM

BOM was founded in Pune, India, in 1935 by D.K. Sathe and V.G. Kale. The bank was licensed with an authorized capital of ₹1 million and began operations on February 8, 1936. BOM provided financial support to small businesses and helped to establish several manufacturing companies.

After nationalization in 1969, BOM grew rapidly. In 2018, A.S. Rajiv became the Managing Director and CEO of the bank.

Conclusion

BOM is a leading public sector bank in India. It is committed to providing its customers with a wide range of banking and financial services. BOM is also a leader in corporate social responsibility initiatives.