KOLKATA: Bank of Maharashtra has decided to spread wings in every northeastern state by September this year to help its western clients develop business contacts in the hitherto untapped region, which is now recipient of special development packages from the central government. The Pune-based bank plans to open a total of 60 branches during 2011-12 and one-sixth of these will be in the seven northeastern states, where it has skeletal presence, bank chairman AS Bhattacharya told ET. "The northeast economy is growing and we don't have presence in the northeast, except in Assam. Beside that, there is another reason why we are targeting the region: my clients in the western states also want to develop business contacts there," Mr Bhattacharya said. The bank will have branches in every state capital in northeast by September. In addition, in plans three new branches in Assam. Banks do not need Reserve Bank of India's clearance for opening branches in this hilly and economically backward terrain. It has 1,517 branches now, mostly in Maharashtra. The CMD said a majority of the 60 new branches proposed will be opened outside the home state. The bank also plans to enhance the number of ATMs to 500 by this month from 413 now.
ET
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