Maharashtra Gramin Bank
Maharashtra Gramin Bank is a Regional Rural Bank sponsored by Bank of Maharashtra, serving rural and semi-urban populations across Maharashtra through branches, regional offices, and a ~600-point banking correspondent network with a full suite of loans, deposits, digital banking, and government financial inclusion schemes.
- Company typePrivate
- Founded2008
- HeadquartersChhatrapati Sambhaji Nagar, India
- Headcount101–250
- GTM typeB2C
- OfferingServices
What Maharashtra Gramin Bank does
Maharashtra Gramin Bank (MGB) is a Regional Rural Bank (RRB) headquartered in Chhatrapati Sambhajinagar (formerly Aurangabad), Maharashtra, sponsored by Bank of Maharashtra and jointly owned by the Government of India, the Government of Maharashtra, and Bank of Maharashtra, with regulatory oversight from NABARD. Operating since 2008, MGB serves rural and semi-urban populations across Maharashtra through a distribution network that includes its head office, regional offices (Nashik, Latur, Nagpur), branch network, and approximately 600 Customer Service Points (CSPs) managed under a banking correspondent arrangement with Bartronics India.
The bank runs a standard RRB platform built on digital payment and settlement rails — UPI, NEFT, RTGS, IMPS, NACH, Aadhaar Payment Bridge System / Direct Benefit Transfer — exposed through MGB Mobile Banking (iOS/Android), MGB Internet Banking, MGB VISHWAS authentication, QR Sound Box merchant devices, and RuPay debit cards, complemented by ATMs and mobile ATM vans for cash access in villages. Its product suite is divided across retail loans (home at 7.10% ROI, car at 7.50%, gold at 8.75%, education, Kamdhenu personal loan at 10.75%, MSME/project, solar, Kisan Credit Card, Agri Infrastructure Fund), deposits (savings, current, term, recurring, MIDS, QIDS, tax-saver), and central government financial inclusion schemes (PMJDY, PMSBY, PMJJBY, Atal Pension Yojana).
MGB's revenue model is a classic spread-and-fee banking model: net interest income from the deposit–lend gap across its loan book, plus fee income from service charges (revised effective June 1, 2026), locker services, SMS/email alerts, insurance distribution, and government-scheme enrollments. Go-to-market combines a direct branch channel, a third-party-managed BC/CSP channel (Bartronics India), self-serve digital channels, and community-led engagement via financial literacy camps and mobile ATM vans targeting unbanked rural Maharashtra. The bank's competitive positioning is anchored in its RRB regulatory mandate and sponsor-bank backing rather than proprietary technology.
Maharashtra Gramin Bank firmographics
Firmographics- Name
- Maharashtra Gramin Bank
- Legal name
- Maharashtra Gramin Bank Ltd.
- Website
- https://mahagramin.in
- Company type
- Private
- Founded year
- 2008
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Maharashtra Gramin Bank is a Regional Rural Bank sponsored by Bank of Maharashtra, serving rural and semi-urban populations across Maharashtra through branches, regional offices, and a ~600-point banking correspondent network with a full suite of loans, deposits, digital banking, and government financial inclusion schemes.
- Ownership category
- akta.pro rank
Maharashtra Gramin Bank industry classification
Industry- Product category
- Regional Rural Banking
- NAICS
- Depository Credit Intermediation (5221)
- SIC
- State Commercial Banks (6022)
- akta.pro primary industry
- Agricultural & Rural Development Banks (FSABAKAE)
Keywords
Where Maharashtra Gramin Bank is headquartered
LocationHeadquarters
- HQ city
- Chhatrapati Sambhaji Nagar
- HQ country
- India
- HQ region
- Asia
Offices4 records
Markets served
Maharashtra Gramin Bank business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Interest Income from Loans: Maharashtra Gramin Bank generates primary revenue through interest income on its diverse loan portfolio, which includes housing loans, vehicle loans, gold loans, education loans, personal loans, MSME/project loans, solar loans, agri infrastructure loans, and Kisan Credit Cards. Interest rates are publicly disclosed on the bank's website, ranging from 7.10% for home loans to 10.75% for personal loans.
- Deposit Taking and Interest Payment: The bank accepts deposits through savings accounts, current accounts, recurring deposits, term deposits, MIDS, QIDS, and tax-saver deposits. The spread between lending and deposit rates forms a core revenue component typical of regional rural banks.
- Fee-Based Services: The bank earns fee income from services including locker services, SMS alerts, email alerts, ATM transactions, service charges, insurance services, and government scheme enrollments (PMJDY, PMSBY, PMJJBY, APY). Service charges were updated effective June 1, 2026.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Home Loan starting at 7.10% ROI |
| Subscription | Monthly | Vehicle (Four-Wheeler) Loan starting at 7.50% ROI |
| Usage-based | Monthly | Gold Loan starting at 8.75% ROI |
| Subscription | Monthly | Personal Loan starting at 10.75% ROI |
| Subscription | Monthly | MSME & Project Loans |
| Subscription | Monthly | Solar Loan |
| Subscription | Monthly | Savings Account |
| Subscription | Annual | Term Deposits |
| Subscription | Monthly | Recurring Deposit |
| Transaction based/ take rate | Monthly | Service Charges and Fees |
Go-to-market motion2 records
Distribution channels6 records
Marketing channels6 records
Maharashtra Gramin Bank product offering
Product offeringCore offering
Maharashtra Gramin Bank is a Regional Rural Bank (RRB) operating across the state of Maharashtra, sponsored by Bank of Maharashtra and operating under the regulatory framework of NABARD. It provides a comprehensive suite of banking products including agricultural, personal, home, vehicle, gold, education, MSME and project loans; savings, current, term and recurring deposits; digital banking channels (mobile, internet, UPI, QR); and government-backed insurance and pension schemes aimed at financial inclusion in rural and semi-urban areas.
Product overview
Maharashtra Gramin Bank is a regional rural bank sponsored by Bank of Maharashtra, providing a comprehensive suite of banking products and services across Maharashtra. The bank operates a multi-channel platform offering: (1) Loan products including Home Loans (7.10% ROI), Car Loans (7.50% ROI), Gold Loans (8.75% ROI), Education Loans, Personal Loans (10.75% ROI), Doctor Special Loans, MSME & Project Loans, Solar Loans, and Agri Infrastructure Fund; (2) Deposit products including Savings Accounts, Current Accounts, Term Deposits, Recurring Deposits, MIDS, QIDS, and Tax Saver Deposits; (3) Digital Banking services via Mobile Banking app and Internet Banking, supported by ATM Services, UPI, RuPay Debit Cards, and QR Sound Box; (4) Financial Inclusion products under government schemes including PMJDY, PMJJBY, PMSBY, Atal Pension Yojana, and Kisan Credit Cards; and (5) Utility services such as Locker Services, SMS/Email Alerts, and Insurance Services. Payment infrastructure includes NEFT, RTGS, IMPS, NACH, and Aadhaar Payment Bridge for fund transfers.
Differentiator
Problem solved
Functional benefit
Products and services
- MGB Home Loan
- MGB Car Loan Scheme
- MGB Gold Loan Scheme
- MGB Education Loan Scheme
- Kamdhenu Personal Loan Scheme
- Doctor Special Loan
- Doctor Special Clean Loan
- MSME and Project Loans
- Solar Loan
- Agri Infrastructure Fund
- Kisan Credit Card (KCC)
- Savings Account
- Current Account
- Term Deposit
- Recurring Deposit
- Monthly Interest Deposit Scheme (MIDS)
- Quarterly Interest Deposit Scheme (QIDS)
- Gramin Tax Saver Deposits
- Locker Service
- Insurance Services
- RuPay Debit Cards
- MGB Mobile Banking
- MGB Internet Banking
- MGB ATM Services
- UPI Services
- QR Sound Box
- PMJDY Accounts
- PMJJBY (Pradhan Mantri Jeevan Jyoti Bima Yojana)
- PMSBY (Pradhan Mantri Suraksha Bima Yojana)
- APY (Atal Pension Yojana)
- NEFT / RTGS / IMPS Transfer Services
- Aadhaar Payment Bridge System & Direct Benefit Transfer
- NACH (National Automated Clearing House)
Quantifiable outcome
- Banking network expanding from 350 to 600 touchpoints (Customer Service Points) across Maharashtra
- +1 more outcomes
Companies that use Maharashtra Gramin Bank
Customer profileNamed customers2 records
Segments3 records
Ideal customer profiles3 records
Maharashtra Gramin Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature6 records
Maharashtra Gramin Bank partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Bartronics India LimitedcoreBartronics India Limited signed a long-term Service Level Agreement with Maharashtra Gramin Bank to expand the bank's rural banking correspondent network across Maharashtra. The partnership aims to scale managed touchpoints from approximately 350 to nearly 600 Customer Service Points (CSPs) in a phased manner, adding around 250 new CSPs. The expanded engagement is projected to generate cumulative revenues of approximately Rs 7.3 billion over the next five years. Bartronics manages and operates the BC network on behalf of the bank, providing technology-enabled rural banking services.
Scale indicators4 records
Recent moves6 records
Expansion highlights5 records
Maharashtra Gramin Bank competitors and assessment
Company assessmentDirect peers
- Bandhan Bank: Commercial bank originating from a microfinance institution with a strong rural and semi-urban retail deposit, micro-banking, and MSME lending franchise — closely comparable to MGB's microfinance-like agricultural and small-business credit book.
- Ujjivan Small Finance Bank: Small finance bank focused on financial inclusion, microfinance-origin customers, and small business lending with a strong branch and BC-led distribution model — directly comparable to MGB's rural banking-correspondent-driven outreach.
- Jana Small Finance Bank: Small finance bank with deep rural and micro-enterprise penetration and a BC-led last-mile distribution approach — comparable to MGB's model of extending banking services through Customer Service Points in underserved geographies.
- AU Small Finance Bank: Small finance bank with a strong rural and semi-urban retail deposit and lending franchise, including vehicle, MSME, and housing loans — closely comparable to MGB's product mix and target customer base in underserved Indian markets.
- Bank of Maharashtra: Sponsor of Maharashtra Gramin Bank and a public-sector commercial bank operating in Maharashtra with comparable rural/semi-urban lending products, deposits, and digital channels; provides the closest direct analog as both parent and overlapping competitor in the same state.
- Equitas Small Finance Bank: Small finance bank serving micro-entrepreneurs, small businesses, and underserved retail customers with deposits, loans, and digital banking — comparable product set and customer profile to MGB's rural and MSME lending focus.
Broad incumbents
- Indian Bank: Public-sector bank sponsoring Indian Bank-sponsored RRBs and operating a broad rural and agricultural lending franchise; comparable as a sponsor-banking peer competing for similar government scheme mandates and priority-sector lending volumes.
- State Bank of India: Largest public-sector bank in India, sponsor of multiple RRBs, and direct competitor in rural deposit and agricultural lending markets; provides the broad incumbent benchmark against which MGB's rural share and product offerings must be evaluated.
- Punjab & Sind Bank: Public-sector bank with a similar small-format branch footprint and a focus on retail deposits, MSME, and agricultural lending — comparable in scale and customer mix to MGB among smaller PSU banking peers.
Emerging players
- Spandana Sphoorty Financial: Microfinance institution lending to women borrowers in rural and semi-urban India — comparable emerging player targeting the same underserved rural customer base that MGB serves through Kisan Credit Cards and MSME loans.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Maharashtra Gramin Bank social profiles
Digital presenceMaharashtra Gramin Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Maharashtra Gramin Bank leadership team
Management profileNumber of profiles
Profiles1 record
Maharashtra Gramin Bank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Maharashtra Gramin Bank M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Maharashtra Gramin Bank
What does Maharashtra Gramin Bank do?
Maharashtra Gramin Bank is a Regional Rural Bank (RRB) operating across the state of Maharashtra, sponsored by Bank of Maharashtra and operating under the regulatory framework of NABARD. It provides a comprehensive suite of banking products including agricultural, personal, home, vehicle, gold, education, MSME and project loans; savings, current, term and recurring deposits; digital banking channels (mobile, internet, UPI, QR); and government-backed insurance and pension schemes aimed at financial inclusion in rural and semi-urban areas.
Is Maharashtra Gramin Bank a public or private company?
Maharashtra Gramin Bank is a private company. It is classified as state government owned and is currently operating.
When was Maharashtra Gramin Bank founded?
Maharashtra Gramin Bank was founded in 2008. It employs 101 to 250 people.
Where is Maharashtra Gramin Bank based?
Maharashtra Gramin Bank is headquartered in Chhatrapati Sambhaji Nagar, India, in the Asia region.
How does Maharashtra Gramin Bank make money?
Three revenue lines are on record. Interest Income from Loans are the primary driver. The others are deposit Taking and Interest Payment and fee-Based Services.
Who are Maharashtra Gramin Bank's main competitors?
Direct peers on record are Bandhan Bank, Ujjivan Small Finance Bank, Jana Small Finance Bank, AU Small Finance Bank, Bank of Maharashtra and Equitas Small Finance Bank. Broad incumbents are Indian Bank, State Bank of India and Punjab & Sind Bank. Spandana Sphoorty Financial is listed as an emerging player.
Does Maharashtra Gramin Bank have an API?
No public API is recorded for Maharashtra Gramin Bank.
What industry is Maharashtra Gramin Bank in?
Maharashtra Gramin Bank's product category is Regional Rural Banking. Its primary akta.pro industry code is FSABAKAE, Agricultural & Rural Development Banks. Its NAICS code is 5221 and its SIC code is 6022.