Public sector Bank of Maharashtra Limited on Monday (March 17) said that it has received an administrative warning from the Securities and Exchange Board of India (SEBI) for failing to hold the required Nomination & Remuneration Committee (NRC) meetings in the financial years 2022-23 and 2023-24. The bank said that the warning letter dated March 12, 2025 was received by the bank on March 17, 2025. In response, the bank said that it has taken cognizance of SEBI's direction and will take necessary steps to address the concerns raised.

The bank said, "We have taken cognizance of SEBI's letter and the bank will take necessary steps to address the concerns/instructions mentioned in the letter." Bank of Maharashtra's net interest income (NII) grew 19 per cent year-on-year to Rs 2,944 crore in the quarter ended December. Profit for the period also grew 36 per cent year-on-year to Rs 1,406 crore. The asset quality of the government bank also remained stable. Share performance On Monday, the company's stock closed at Rs 44.36, down 2.36 per cent. In the last one year, the company's stock has seen a decline of 24.56 per cent.