BOM Full Form

What is the full form of BOM?

The full form of BOM is Bank of Maharashtra. It is a significant bank in the public sector in India. 87.74%of the shares are owned by the Indian Government. As of 5 April 2016, the bank had 15 million clients around the world nation with 1,897 subsidiaries. It had the largest network of subsidiaries in the state of Maharashtra of any other public sector banking system.

A brief history of BOM

  • D.K. Sathe & V. G. Kale formed the bank Pune, India.
  • The bank was licensed with an approved capital of US$ 1 million on 16 September 1935 and became operative on 8 February 1936.
  • It supported tiny companies with financial support and given rise to several manufacturing companies.
  • The bank grew rapidly after nationalization in 1969.
  • Narendra Singh, who became Chairman and CEO on 1 February 2012, resigned on 30 September 2013, succeeding in Sushil Muhnot & Ravindra Prabhakar Marathe, respectively.
  • On 1 December 2018, A.S. Rajiv became Managing Director & CEO of the bank.

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