Public sector lender, Bank of Maharashtra has decided not to bring any changes in its base rate despite the recent policy rate hike by banking regulator, Reserve Bank of India. The bank's decision is backed by its positive growth in business and profitability.

"We are keeping the base rate unchanged at 8.25 per cent as of now despite hike by RBI in the monetary policy. We have only revised the deposit rate by 35 basis for one year maturity," BoM chairman and managing director Anup Sankar Bhattacharya said.

Bhattacharya said that the bank wanted to attain total business of Rs 1,20,000 crore which would be a 15% growth over last year's figures.

The NIM was 2.54 % in Q2 as compared to 1.77% in the corresponding period last year.

The bank had posted a net profit of Rs 52.3 crore for the Q2 period which is a 39% decline over the last period.

Bhattacharya said, "In 2011, we will be setting up at least five micro asset recovery branches in identified rural centres to recover NPAs in smaller accounts to arrest slippage in net NPA to below 2 per cent."

The bank also aims to open 24 more branches in the country this fiscal.