Public sector bank, Bank Of Maharashtra (BoM) has announced the closure of 51 branches across the country as part of cost-cutting measures being implemented in the banking industry, an official said on Wednesday. All the branches were in urban centres and have been identified for the action as they were declared nonviable and were incurring huge losses, said the official of the Pune-headquartered bank.

Declining to be identified, the senior bank official said that these 51 units have been closed down and merged with neighbouring branches. This is the first such measure initiated by any PSB in Maharashtra. The BoM has around 1,900 branches all over India.