About Us

Officer Appointed by RBI / Hon'ble High Court of Telangana Officer Appointed by RBI / Hon'ble High Court of Telangana

Officer Appointed by RBI / Hon'ble High Court of Telangana

Sri Ram Narayana Boga

Officer Appointed by RBI /

Hon’ble High Court of Telangana

Sri Ram Narayana Boga has been appointed as on Officer for running administration and managing the day-to-day affairs of the Bank by Hon’ble High Court of Telangana vide their order dated 30th Oct 2023 on the recommendation of Reserve Bank of India. He has taken charge of the duties on 15th Nov 2023.

Before appointment to our Bank, He was a Top Executive in State Bank of India with 37 years of varied experience in banking operations especially in the areas of Operations, Retail Banking, Corporate Banking , Agriculture & Rural Banking, Audit, Foreign Operations and Human Resource Management. He also carries rich experience in managing affairs of an institution and discharged his duties in his career as MD & CEO of SBI Payment Services Pvt Ltd, and General Manager and Director at SBIRB, Hyderabad which is an Apex training Institute of State Bank of India.

Important positions held by the Official in State Bank of India are as under :

  • GM & Director, State Bank Institute of Rural Banking, Hyd.
  • GM (Management Audit), SBI, Internal Audit Dept. CC. Hyd.
  • MD & CEO, SBI Payment Services Pvt Ltd, Mumbai
  • General Manager (MAB), SBI, CC Mumbai.
  • Dy General Manager (Business & Operations), SBI, Chennai
  • Dy GM (Merchant Acquiring Business), SBI, CC, Mumbai
  • Regional Manager (AGM), RBO Kurnool
  • Regional Manager (AGM), RBO 1, Hyderabad
  • Area Representative, Representative Office Cairo, Egypt

With his rich experience in all shades of Banking Business, in the Top public sector Bank in the country, his endeavour is to make substantial contribution in the area of technological transformation, customer convenience, business acquisition and expansion of operations of the Bank.

We welcome Sri.Ram Narayana Boga to our Mahesh Bank family and look forward for sustained growth and customer delight.

Our Managing Director and General Manager welcoming Sri. Ram Narayana Boga

Our Managing Director and General Manager welcoming Sri. Ram Narayana Boga

Managing Director & Chief Executive Officer Managing Director & Chief Executive Officer

Sri V Arvind

Managing Director & Chief Executive Officer

Sri V Arvind has taken charge of the Bank as Managing Director & Chief Executive Officer on 1st Feb 2024. He carries rich experience of more than 38 years in State Bank of India in various streams of Banking operations.

During the period from 2017 to 2022, he was Chairman and Managing Director of Telangana Grameena Bank (TGB), a Regional Rural Bank sponsored by State Bank of India.

Earlier to this, he worked as Dy General Manager, B&O at Kozhikode, Kerala and had overseen smooth merger of State Bank of Travancore with State Bank of India.

He has also worked as Regional Manager of the Bank overseeing overall growth and operations of the Branches under the Region.

He has rich experience in Treasury and Foreign Exchange operations and well versed with operational responsibilities of Banks.

Mahesh Bank family welcomes him to our fold and look forward for his lead contribution in taking the Bank to greater heights.

Management Management

Board of Directors:

Elected 15 Directors assumed Office on 10.01.2021 and 2 Directors have been co-opted as Professional Directors. The Directors of the Board are successful businessmen & Industrialists Chartered Accountants, Engineer and Company Secretary. The Directors render their services honorary since inception of the bank.

Ramesh Kumar Bung


Laxminarayan Rathi


Anita Soni


Arunkumar Bhangadia


Badri vishal Mundada


Bhagwan Pansari


Bhagwati Devi Baldwa


Brijgopal Asawa


Govind Narayan Rathi


Kailash Narayan B


Murali Manohar Palod


Prem Kumar Bajaj


Pushpa Boob


Ram Prakash Bhandari


Ramakanth Inani

professional Director

CS Suman Heda LLM

professional Director

History Of the Bank History Of the Bank


Andhra Pradesh Mahesh Co-operative Urban Bank Limited is India's premier Urban Co-operative Banking Institution. The Bank has attained this premier position without compromising the spirit of co-operative principles, while at the same time striving to assimilate and implement newer methods of work organisation and management, with a firm commitment to its objectives.

Registration and Commencement of Operations

Andhra Pradesh Mahesh Co-operative Urban Bank Ltd. (popularly known as Mahesh Bank) was registered as a Primary Co-operative Society on 30th June, 1977. The Bank has commenced its operations on 9th August, 1978.

The Bank was accorded SCHEDULED STATUS by Reserve Bank of India from 26th October, 1996 - the first Co-operative Bank to be accorded this status in the entire South India. Dr C. Rangarajan, the then Governor, Reserve Bank of India graced the occasion. The Bank has been registered as a Multi-State Co-operative Bank under the Multi-State Co-operative Societies Act, 1984 with effect from 30.05.2001 - again the first Co-operative Bank to achieve this coveted position in South India.

Dr. C.Ranga Rajan, the then Governor, Reserve Bank of India inaugurating the function.

Branch Expansion

Mahesh Bank presently has 45 branches - 35 in the twin cities of Hyderabad and Secunderabad and one each at Khammam, Warangal, Karimnagar in Telangana State, Vijayawada, Guntur, Rajahmundry, Visakhapatnam, in Andhra Pradesh State, Jaipur & Bhilwara in Rajasthan and Mumbai in Maharashtra State.


Sri Purshotamdas Mandhana, Ex-Chairman, A.P.Mahesh Co-op.Urban Bank Ltd. Hyderabad received “BEST EX-CHAIRMAN” award under the category of Large Co-operative Banks of the Country by the Banking Frontiers, Indian’s first publication of its kind on Banking Technology and Business issues at a function held at Goa on 19th September, 2019 at a function – “Frontiers in Cooperative Banking Awards (FCBA)”. The award was given by Sri Govind Gowda, Hon’ble Minister for Co-operation, Goa, Sri V.S.Das, Former Executive Director, RBI, Sri Jyothindra Mehta, President, NAFCUB, New Delhi and other dignitaries.

The Bank bagged the "SPECIAL AWARD" in 77th ALL INDIA INDUSTRIAL EXHIBITION held at Hyderabad during 1.1.2017 to 15.02.2017 for its exemplary participation and personalised services rendered to its customers.

One more feather on the cap of the bank for having Award Award for "BEST MOBILE APP" and "BEST e-PAYMENTS AWARDS” by the Banking Frontiers, (India’s first publication of its kind on Banking Technology and Business issues) at a function held at Jaipur – Rajasthan on 9th September, 2017.


Mahesh Bank is the first Co-operative Urban Bank in the States of Telangana and Andhra Pradesh:

  • To offer Core Banking Solutions(CBS), Bancassurance, Mutual Funds, Direct RTGS/NEFT, e-Seva, RuPay ATM-cum-Debit Card facilities.
  • To offer IMPS – Merchant Payment Service – for online payment of Electricity, Telephone Bills and booking flight, bus and hotel bookings.

Capital Adequancy Norms

The Capital to Risk Weighted Assets Ratio (CRAR) of the bank stood at 34.71% as on 31-3-2023 as against a minimum stipulation of 9% prescribed by RBI.


“To make brand “MAHESH BANK” synonymous to trust and reliability, to be a leader amongst the Multi State Scheduled Co-operative Banks in the whole of South India, to render excellence and personalized services and to contribute to Co-operative movement, making credit available to the customers, more particularly to Individuals, SMEs, thereby contributing to their growth and striving to maintain Net NPAs at 0% level” throughout.

Target for the Year Ending 31.03.2024

For the year ending with 31-3-2024, the Bank aims to achieve Rs. 4850 crore business and net NPAs continues to be maintained at "0" level.

Future Plans

To expand branch network to 47 from the present 45 by expanding its wings to Maharashtra and Gujarat States.

Our Objectives Our Objectives

The principal object of the Bank will be to promote the interests of all its members to attain their social and economic betterment through self-help and mutual aid in accordance with the Co-operative Principles.

The objects of the Bank shall be to engage in any one or more of the forms of business enumerate in Section 6 as amended by Section 56 of the Banking Regulation Act, 1949 and in particular to carry out the following forms of business:

  • To do banking business on Co-operative Principles by accepting for the purpose of lending or investment of deposits of money from members as well as the public, repayable on demand or otherwise and withdrawable by cheque, draft, pay order or otherwise.
  • To raise funds by issue of shares and/or any other securities as permitted by the Regulatory Authority.
  • To encourage thrift, self-help and co-operation among members.
  • To prevent members from falling into permanent indebtedness and to assist them financially in times of difficulty and to help them to get out of debt.
  • To engage in any one or more of the following forms of business namely:
    (i) The borrowing, raising or taking up of money;
    (ii) The lending or advancing of money to members either upon or without security;
    (iii)The drawing, making, accepting, discounting, buying, selling, collecting and dealing in bills of exchange, hundies, promissory notes, coupons, drafts, bills of lading, railway receipts, warrants, certificates, scrips and other instruments and other securities whether transferable or negotiable or not;
    (iv)The granting and issuing of letters of credit, travellers` cheques and circular notes and to do all forms of foreign exchange business;
    (v) The buying, selling and dealing in bullion and species on behalf of member customers;
    (vi)The acquiring, holding, issuing on commission, underwriting and dealing in stock, funds, shares, debentures, debenture stock, bonds, obligations, securities and investments of all kinds;
    (vii)The purchasing and selling of bonds, scrips of other forms of securities on behalf of constituents or others, the negotiating of loans and advances.
    (viii)The receiving of all kinds of bonds, scrips and valuables on deposit or for safe custody or otherwise;
    (ix)The providing of safe deposit vaults;
    (x) The collecting and transmitting of money and securities;
    (xi) Acquiring and holding and generally dealing with any property or any right, title or interest in any such property which may form the security or part of the security for any loans and advances or which may be connected with any such security;
    (xii) Carrying on and transacting guarantee and indemnity business, on behalf of the constituents in the ordinary course of banking business and to provide necessary cash margin to facilitate such business;
    (xiii) Opening Branches, Extension Counters and Sub-Officers or any Office and ATM centers or to have arrangement of ATMs of other Banks etc. as per the norms of the Reserve Bank of India.
    (xiv) Subject to the previous approval of the Central Registrar establishing and supporting or aiding in the establishment and support of associations, institutions, funds, trusts and conveniences calculated to benefit members, employees, ex-employees of the bank or the dependents or connections of such persons granting pensions and allowances and making payments towards insurance, subscribing to or guaranteeing monies for charitable benevolent object or for any exhibition or for any public, general or useful object;
    (xv)Undertaking and executing trusts, undertaking the administration of estates as an executor, trustee or otherwise, with the previous permission of the Central Registrar;
    (xvi)The acquisition of land/buildings, construction, maintenance and alteration of any land/building or works necessary or convenient for the purposes of the Bank;
    (xvii) To act as Insurance Agent as per norms of RBI and IRDA;
    (xviii)To promote one or more subsidiary institutions which may be registered under any law for the time being in force for the furtherance of its stated objects;
    (xix) Any other form of business which the Central or the State Governments may specify as a form of business in which it is lawful for a banking institution to engage;
    (xx) Doing all such other things as are incidental and conducive to the promotion or advancement of the business of the Bank
  • To amalgamate with another Bank with same or similar objects;
  • To engage in Credit/Debit cards;
  • To do merchant banking business;
  • To takeover another society with similar object;
  • To develop market information system, logo brand promotion, quality control and technology up gradation;
  • To enter into participation, consortium arrangement with bank/s or financial institutions with objects of making loans and advances;
  • To act as agents for collection of moneys of various government quasi government and statutory bodies.
Financial Progress Financial Progress

For the year ended 31st March, 2023




                                                                                                                                                                                           (Rs. in Crores)










Profit Before Tax



Profit After Tax



Working Funds



Owned Funds



Per Employee Business



Interest Earned



Interest Expended



Total Income




(In Percentages)










Profit Before Tax



Profit After Tax



Working Funds



Owned Funds



Per Employee Business



Interest Earned



Total Income




(Annualised Percentage)


28.49 34.71

CD Ratio

42.52 40.40

Gross NPA

8.48 7.99


1.56 0

Low Cost Deposits

25.06 29.30

Interest exp. to Int. Income

64.59 61.96

Operating exp. to Total Income

20.87 30.49

Return on Assets

1.02 0.59
Balance Sheet as at 31st March,2023 Balance Sheet as at 31st March,2023









31 94 19 040

33 12 79 720

Reserve fund and Other Reserves

420 71 69 377

388 35 95 586

Principal/Subsidiary/State Partnership Fund Account



Deposits and Other Accounts

2342 18 43 067

2662 58 64 788



35 092

Bills for collection being bills receivable as per contra

1 04 854

 12 51 419

Branch Adjustments


 16 72 973

Overdue Interest Reserve (As per Contra)

54 93 27 844

45 12 05 501

Interest payable

9 74 34 655

11 09 98 936

Other Liabilities

47 47 06 491

47 05 93 114

Profit and Loss

21 64 82 426

41 56 08 844


2928 64 87 754

3229 21 05 973



144 21 65 875

184 18 82 681

Balances with other Banks

500 89 29 359

370 98 68 436

Money at Call and Short Notice(TREPS)

75 00 00 000

260 00 00 000


1091 31 84 913

1122 70 37 607

Investments out of Principal/Subsidiary/State Partnership Fund Account




946 32 60 025

1132 05 49 633

Interest Receivable

i. on Investments

41 84 70 477

34 59 96 937

ii. On Loans and Advances (As per Contra)

54 93 27 844

45 12 05 501

Bills receivable being Bills for Collection as per contra

 1 04 854

 12 51 419

Branch Adjustments

 35 23 271

 65 09 966

Premises less depreciation

36 35 98 746

37 53 01 282

Furniture and Fixtures less depreciation

8 11 26 207

10 13 27 827

Computer Software in Progress

2 56 93 170

1 04 98 750

Other Assets

26 71 03 013

30 06 75 934

Non- Banking Assets acquired in satisfaction of claims




2928 64 87 754

3229 21 05 973

Contingent Liabilities

37 82 92 071

31 80 98 612

Profit and Loss Account Profit and Loss Account

For the year ended 31st March,2023


Year ended 31.03.2023

Year ended 31.03.2022





Interest & Discount

 2 30 50 00 755

 2 65 71 62 711

Commissions, exchange and brokerage

   30 45 373

   73 31 216

Profit on Sale of Securities (Net)

  10 07 18 582

  15 33 62 644

Other Receipts

  5 77 88 669

  10 39 93 802


 2 46 65 53 379

 2 92 18 50 373


Interest on Deposits, Borrowings

 1 42 82 27 772

 1 71 62 33 044

Salaries, allowances and Provident fund

  29 78 03 794

  27 65 17 109

Director's and lical committee members'fees and allowances



Rent, Taxes and Lighting

  7 16 01 532

  6 72 43 846

Law Charges

   13 82 450

   28 84 415

Postage,telegram and telephone charges

   23 97 786

   25 72 924

Auditor's Fees

   10 90 000

   15 60 652

Depreciation on repairs to property

  5 73 49 041

  6 45 81 770

Stationery, Printing and Advertisement

   97 49 411

  1 28 35 309

Other Expenditure

  31 07 27 690

  18 14 82 894


  5 97 27 607

  15 54 26 003

Income Tax Expenses



i. Current Tax

  3 41 62 040

  10 59 00 000

ii. Deferred Tax

-   2 47 000

   56 38 000

iii. Tax Paid for earlier year

  1 93 80 676



 2 29 33 52 799

 2 59 28 75 966

Net Profit carried to Balance Sheet(A-B)

  17 32 00 580

  32 89 74 407