Bank of Maharashtra Reduces Overnight MCLR by 15 Basis Points to 7.75%

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.

Tenor:	Existing Rate	Revised Rate (w.e.f. 31.03.2026)	Change
Overnight:	7.90%	7.75%	-15 bps
One month:	8.20%	8.20%	No change
Three months:	8.45%	8.45%	No change
Six months:	8.70%	8.70%	No change
One year:	8.85%	8.85%	No change

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.

Bank of Maharashtra has completed its annual interest payment obligation on BASEL III Compliant Tier I Bonds, disbursing ₹25.38 crore to bondholders on March 24, 2026. The payment was made in accordance with Regulation 57(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Bond Payment Details

The interest payment pertains to bonds with ISIN INE457A08100, which have a total issue size of ₹290.00 crore. The bank maintained its annual payment frequency as scheduled, with no changes to the payment structure.

Parameter	Details
ISIN	INE457A08100
Issue Size	₹290.00 crore
Interest Amount Paid	₹25.38 crore
Payment Frequency	Annually
Record Date	March 9, 2026
Due Date	March 24, 2026
Actual Payment Date	March 24, 2026

Payment Timeline and Compliance

The bank demonstrated punctual debt servicing by making the payment exactly on the due date of March 24, 2026. The interest payment record date was established as March 9, 2026, providing bondholders with adequate notice. This payment follows the bank's previous annual interest disbursement made on March 24, 2025.

Regulatory Framework

The BASEL III Compliant Tier I Bonds represent part of the bank's capital adequacy framework, designed to strengthen its financial position in line with international banking standards. The timely interest payment reflects the bank's commitment to maintaining investor confidence and regulatory compliance.

Bank of Maharashtra has informed both BSE Limited and National Stock Exchange of India Limited about the successful completion of this interest payment. The communication was also shared with Catalyst Trusteeship Limited, serving as the Debenture Trustee for these bonds, ensuring all stakeholders remain informed of the bank's debt servicing activities.