The new head of Bank of Maharashtra (BoM) for Chandigarh Region, PK Aggarwal, has special vision for this region and plans to open eight new branches in Punjab, Haryana and Himachal Pradesh in the current fiscal to increase its focus in north.
PK Aggarwal, who has taken over as assistant general manager from Anil Thakur now promoted as DGM, started his career from Chandigarh and now had come as head of bank operations in this region as such had special plans for the region. The AGM told during an interview that Chandigarh region holds extensive scope for growth as economy of this region is most vibrant and Chandigarh itself was most banked city in the country.
Talking about the plans of BoM for the Chandigarh region, he said that the eight new branches slated to be opened this fiscal include two branches in Himachal Pradesh at Una and Mandi, two in Gurgaon in Haryana, and one each at Chandigarh, Ludhiana, Jalandhar and Zirakpur in Punjab. Aggarwal told that at present the bank had 18 branches in Punjab, 17 in Haryana, three in Chandigarh, two in Jammu and Kashmir and one in Himachal Pradesh. He said all these 41 branches under Chandigarh region were CBS branches offering connectivity of all branches for the convenience of customers.
He informed that during year 2007-08, the BoM had a business of about Rs 20,00 crores from Chandigarh region with Rs 1,080 advances and Rs 920 deposits. He said that the bank was projecting a growth of about 35% this fiscal which would take total business to Rs 2,700 crore having advances of Rs 14,00 crore and deposits of Rs 1300 crore.
