Bank of Maharashtra has formally notified shareholders regarding the transfer of eligible equity shares to the Investor Education and Protection Fund (IEPF) Demat Account, in compliance with recent regulatory amendments. The bank issued this communication on 31.03.2026 to affected shareholders and simultaneously informed stock exchanges about this regulatory action.

Regulatory Framework

The share transfer process is governed by multiple regulatory provisions that have been recently amended. The bank is acting pursuant to amendments to Section 10B of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, read with Section 124 of the Companies Act, 2013. Additionally, the amended Investor Education and Protection Fund (IEPF) Rules, 2016 specifically address the transfer of equity shares to IEPF Demat Account.

Communication Details

The bank has sent targeted communications to shareholders whose equity shares meet the eligibility criteria for transfer to the IEPF Demat Account. This proactive approach ensures that affected shareholders are informed about the potential transfer of their holdings before the actual transfer takes place.

Stock Exchange Notification

Bank of Maharashtra has fulfilled its disclosure obligations by informing both major stock exchanges about this shareholder communication. The bank trades on BSE under scrip code 532525 and on NSE under the symbol MAHABANK. The notification was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates disclosure of material events and information.

Corporate Governance

The communication was signed by Vishal Sethia, Company Secretary & Compliance Officer, demonstrating the bank's commitment to proper corporate governance and regulatory compliance. The digital signature was applied on 31.03.2026 at 18:30:48 +05'30', ensuring the authenticity and timing of the disclosure.

Bank of Maharashtra has announced a selective revision in its Marginal Cost of Funds Based Lending Rate (MCLR) structure, with the changes taking effect from March 31, 2026. The public sector bank has opted to reduce rates only for its shortest tenor while maintaining stability across other lending rate categories.

MCLR Rate Structure Changes

The bank's latest rate review resulted in a targeted adjustment to its overnight lending rate. The overnight MCLR has been reduced from 7.90% to 7.75%, marking a decrease of 15 basis points. This reduction affects the bank's shortest-term lending benchmark, which serves as a reference rate for various loan products.

Rate Structure Maintained for Other Tenors

While the overnight rate saw a reduction, Bank of Maharashtra has maintained its existing rate structure across all other MCLR tenors. The one-month MCLR remains at 8.20%, three-month tenor continues at 8.45%, six-month rate stays at 8.70%, and the one-year MCLR is unchanged at 8.85%. This selective approach indicates the bank's strategy to adjust short-term liquidity costs while preserving medium to long-term lending rate stability.

Regulatory Compliance and Implementation

The rate revision was formally communicated to both BSE Limited and National Stock Exchange of India Limited on March 30, 2026, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary and Compliance Officer Vishal Sethia signed the official communication, ensuring proper regulatory disclosure of the material information that could impact the bank's lending operations and customer relationships.