State-owned Bank of Maharashtra Ltd on Monday (March 17) said it has received an administrative warning from the Securities and Exchange Board of India (SEBI) for failing to conduct the required Nomination & Remuneration Committee (NRC) meetings in FY 2022-23 and 2023-24.”The Exchange is hereby informed that the Bank has received an administrative warning letter no. SEBI/HO/CFD/SEC-1/OW/P/2025/08005/1 dated 12.03.2025 regarding non-conduct of Nomination & Remuneration Committee (NRC) Meeting in the FY 2022-23 & 2023-24 resulting into violation of Regulation 19(3A) of SEBI LODR Regulations, 2015,” Bank of Maharashtra said in a regulatory filing.
The warning letter, dated March 12, 2025, was received by the bank on March 17, 2025. In response, the bank stated that it has taken cognizance of SEBI’s directive and will take necessary steps to address the concerns raised. “We have taken cognizance of the aforesaid letter and the bank will initiate necessary steps to address the concerns/directives as mentioned in the letter,” the bank added.
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Bank of Maharashtra’s Net Interest Income (NII) or core income for the lender, increased by 19% on a year-on-year basis to ₹2,944 crore. Net profit for the period, also increased by 36% year-on-year to ₹1,406 crore. Asset quality for the state-run lender remained stable.While Gross NPA stood at 1.8% from 1.84% in September, Net NPA remained unchanged at 0.2% from the September quarter. Advances for the quarter grew by 21.2% from last year to ₹2.28 lakh crore. The number was also 5.1% higher than the September quarter.
The warning letter, dated March 12, 2025, was received by the bank on March 17, 2025. In response, the bank stated that it has taken cognizance of SEBI’s directive and will take necessary steps to address the concerns raised. “We have taken cognizance of the aforesaid letter and the bank will initiate necessary steps to address the concerns/directives as mentioned in the letter,” the bank added.
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Bank of Maharashtra’s Net Interest Income (NII) or core income for the lender, increased by 19% on a year-on-year basis to ₹2,944 crore. Net profit for the period, also increased by 36% year-on-year to ₹1,406 crore. Asset quality for the state-run lender remained stable.While Gross NPA stood at 1.8% from 1.84% in September, Net NPA remained unchanged at 0.2% from the September quarter. Advances for the quarter grew by 21.2% from last year to ₹2.28 lakh crore. The number was also 5.1% higher than the September quarter.
CASA deposits increased by 11.5% on a year-on-year basis to ₹1.37 lakh crore, while CASA ratio stood at 49.28% from 50.19% during the same quarter last year and 49.29% in September. Credit-deposit ratio for the state-run lender stood at 81.95% in December from 76.78% last year and 78.72% in June.
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Shares of Bank of Maharashtra Ltd ended at ₹44.41, down by ₹1.04, or 2.29%, on the BSE.
