Reducing high-cost bulk deposits paid off: BoM MD

From a bank identified by RBI for prompt corrective action as losses touched Rs 5,800 crore to emerging as the top PSU bank in terms of credit growth, Bank of Maharashtra has scripted a successful turnaround story. MD and CEO AS Rajeev, who has led the bank’s turnaround, says its total business grew by 15.77% in the nine months of FY23 to reach Rs 3.65 trillion. The target now is to reach the Rs five-trillion- mark in FY24, he tells Geeta Nair. Excerpts: