Bank of Maharashtra has released the Economist Recruitment 2026 notification on 23 June 2026 at the official website www.bankofmaharashtra.bank.in. As per notification No. AX1/ST/RP/Specialist Officer/Phase I/2026-27 dated 23 June 2026, the online application process began from 23 June 2026 and will closes on 10 July 2026. The Bank of Maharashtra Economist recruitment is for candidates who want a stable public sector bank job in the economic research and banking sector.
The Bank is filling a total of 4 vacancies across three posts: Chief Economist (1), Chief Manager – Economist (1) and Senior Manager – Economist (2). The posting is at the Bank’s Corporate Office at Pune or Mumbai, with selected candidates liable to be posted anywhere in India. Candidates should read this article carefully and go through the official notification before applying.
Information verified from official Bank of Maharashtra notification No. AX1/ST/RP/Specialist Officer/Phase I/2026-27 dated 23.06.2026.
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Quick Summary of Bank of Maharashtra Economist Recruitment 2026
| Category | Details |
|---|---|
| Organisation / Employer | Bank of Maharashtra |
| Name of the Post | Chief Economist, Chief Manager – Economist, Senior Manager – Economist |
| Total Vacancy | 4 |
| Salary / Pay Scale | Starting from ₹85,920 (Scale III) and ₹1,02,300 (Scale IV) basic; negotiable CTC for Chief Economist |
| Additional Salary Benefits | DA, HRA / Lease rental, CCA, Medical and other allowances (permanent posts) |
| Application Mode | Online |
| Eligibility | Post Graduation in Economics with relevant experience |
| Selection Process | Personal interview / discussion (written exam if required) |
| Place of Posting | Pune / Mumbai (postable anywhere in India) |
| Government / Private / Contract | Public sector (permanent posts and one contractual post) |
| Last Date of Application | 10 July 2026 |
| Who Can Apply | Experienced candidates |
| Interview / Exam Date | Date will be intimated to shortlisted candidates |
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About Bank of Maharashtra
Bank of Maharashtra is a public sector bank that is expanding its national footprint and has a Gift City presence. This recruitment is being run to build the Bank’s Economic Cell at its Corporate Office in Pune. The posts sit within the Bank’s economic research and policy function, advising top management on macroeconomic and banking developments in India and abroad. Candidates can read the full notification on the official site at www.bankofmaharashtra.bank.in/current-openings.
For more vacancies in the sector, candidates can also follow the latest bank jobs in India and Maharashtra government jobs category pages.
Important Dates
The application window is short. The notification states candidates are advised to apply well before the closing date and not wait till the last day, as the Bank does not take responsibility for last-minute technical failures.
| Event | Date |
|---|---|
| Notification Date | 23 June 2026 |
| Application Start Date | 23 June 2026 |
| Cut-off Date for Eligibility (Age, Qualification, Experience) | 30 June 2026 |
| Last Date of Application | 10 July 2026 |
| Interview / Discussion Date | Date will be intimated to shortlisted candidates |
The eligibility cut-off date is 30 June 2026, while the application closes on 10 July 2026. Candidates must meet all age, qualification and experience conditions as on the cut-off date, not the application date.
Vacancy Details & Salary
Here’s the breakdown of posts, total vacancy and salary for your reference.
| Post Name | Total Vacancy | Pay Scale |
|---|---|---|
| Chief Economist (Contractual) | 1 | Negotiable annual CTC |
| Chief Manager – Economist (Scale IV) | 1 | ₹1,02,300 – 2980/4 – 1,14,220 – 3360/2 – 1,20,940 |
| Senior Manager – Economist (Scale III) | 2 | ₹85,920 – 2680/5 – 99,320 – 2980/2 – 1,05,280 |
The pay scale figures above are the basic pay. For the permanent posts, the official is also eligible for DA, HRA or Lease rental, CCA, Medical and other allowances and perquisites as per rules in force, which vary by place of posting. For the Chief Economist post, the annual CTC is negotiable and depends on the candidate’s experience and current emoluments. The notification states remuneration will not be a limiting factor for deserving candidates.
A short note on the pay-scale format: the figures show the starting basic, the annual increment amount, the number of such increments and the next stage. For Scale III, the basic starts at ₹85,920 and rises by ₹2,680 a year for five years, then by ₹2,980 for two more years up to ₹1,05,280.
Eligibility Criteria
The eligibility criteria for the Economist posts include education and age requirements. Candidates should make sure they meet all the conditions before applying. The requirements differ by post.
Educational Qualification
All three posts share the same core qualification:
- Post Graduation Degree in Economics, preferably with specialization in Monetary / Financial Economics / Econometrics, from a recognised Indian or foreign university or institute.
- A Doctorate Degree in areas of Money / Banking / International Finance from a recognised university is an added or desirable qualification.
The educational degree must be from a university or institute recognised or approved by the Government of India or its regulatory bodies.
Experience required by post
- Chief Economist: Minimum 12 years as an Economist in a commercial bank, financial institution, reputed corporate, rating agency or organisation, or 12 years of teaching as Lecturer or Professor in Economics, or 12 years of combined experience. Experience in an economic research department or a minimum of 5 years in a senior leadership position is desirable.
- Chief Manager – Economist (Scale IV): Minimum 5 years of experience as an Economist, or in teaching Economics, or a combination of both.
- Senior Manager – Economist (Scale III): Minimum 3 years of experience as an Economist, or in teaching Economics, or a combination of both.
Experience counted is only that gained after acquiring the notified educational qualification. Candidates must show continuity in service, as any gap in service can lead to rejection.
Age Limit
Age is calculated as on the cut-off date of 30 June 2026.
- Chief Economist: Maximum 55 years.
- Chief Manager – Economist (Scale IV): Maximum 40 years.
- Senior Manager – Economist (Scale III): Minimum 25 years and maximum 38 years.
Category-wise age relaxation is not mentioned in the official notification, as all the vacancies are listed under the Unreserved (UR) category.
Selection Process
Selection is interview-driven. The Bank may carry out a preliminary screening of applications to shortlist candidates based on qualification, suitability and experience.
- Preliminary screening and shortlisting of eligible applications.
- Personal interview or discussion (the Bank may conduct a written examination if the number of applications makes it necessary).
The personal interview carries 100 marks, and a candidate must score a minimum of 50 marks to qualify. One practical point from the notification: if more than one candidate scores the cut-off marks, such candidates are ranked by age in descending order, so the older candidate is placed higher in the merit list at the tie point. Merely meeting the minimum qualification and experience does not guarantee an interview call, since the Bank shortlists on additional qualifications, greater experience and level of responsibility handled.
Application Fee
The application fee is non-refundable and inclusive of 18% GST.
| Category | Total Fee |
|---|---|
| UR / EWS / OBC | ₹1,180 |
| SC / ST / PwBD | ₹118 |
The fee is payable online through a payment gateway. Once submitted, the application cannot be withdrawn and the fee will not be refunded on any ground.
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How to Apply for Bank of Maharashtra Recruitment 2026
The application is accepted online only. No other mode is acceptable.
- Visit the official website at www.bankofmaharashtra.bank.in/current-openings.
- Open the recruitment link for the Economist posts and fill in the online application form.
- Upload the required self-attested documents as per the post applied for.
- Pay the application fee online through the payment gateway.
- Submit the application on or before 10 July 2026 and keep a copy of the submitted form.
Documents Checklist Before You Leave Home:
- 10th certificate and mark-sheet
- 12th certificate and mark-sheet
- Diploma certificate with semester or year-wise mark-sheets, wherever applicable
- Graduation semester or year-wise mark-sheets along with degree certificate
- Post-Graduation semester or year-wise mark-sheets along with degree certificate
- Professional degree mark-sheets with degree certificate, if any
- Post-qualification experience certificates (submission of all experience certificates is mandatory)
- A brief resume along with one of the experience certificates
- Additional certificates as specified in the eligibility criteria
Non-submission of these documents as per the post applied for leads to rejection of the application.
Important Links
Candidates applying for the Bank of Maharashtra Economist posts are advised to visit the important links below for the official PDF and application form:
| Resource | Link |
|---|---|
| Official Notification PDF | Download PDF |
| Apply Online / Official Website | Apply Here |
| Latest Bank Jobs | Bank Jobs in India |
| Latest Maharashtra Jobs | Maharashtra Government Jobs |
Should You Apply?
This recruitment suits experienced candidates with a Post Graduation in Economics and a background in monetary economics, econometrics or banking research. The Senior Manager (Scale III) post fits candidates with at least three years of relevant experience, the Chief Manager (Scale IV) post suits those with five years, and the Chief Economist post is aimed at senior candidates with twelve years of experience. It is not a good fit for fresh graduates, generalist banking aspirants, or candidates outside the economics research stream, since the qualification bar is specific.
FAQs — Bank of Maharashtra Economist Recruitment 2026
Is the Bank of Maharashtra Chief Economist post permanent?
No. The Chief Economist post is on a contractual basis for an initial term of three years, extendable by one year at a time up to a maximum of five years. The Chief Manager and Senior Manager economist posts are permanent.
Is there a service bond for the permanent posts?
Yes. The Scale III and Scale IV posts carry a six-month probation, a service bond amount of ₹3.00 lakh, and a minimum service period of two years from the date of joining.
What career growth can an economist expect at Bank of Maharashtra?
Based on standard public sector bank promotion patterns, a Scale III officer can rise through the officer grades over the years under the Bank’s promotion policy. This is editorial context, not part of the official notification, and actual progression depends on Bank rules and performance.
Where will the selected candidates be posted?
The Corporate Office posting is at Pune or Mumbai, but the notification states selected candidates are liable to be posted anywhere in India as per the Bank’s requirement.
ABOUT THE AUTHOR
Sandeep Khati is the founder of India Job Alerts and a B.Tech in Computer Science from JGEC (2010). He started his career as a Systems Engineer at TCS and has been active in digital publishing since 2011, beginning with SearchDarjeeling.com(2011) and working as a web developer and designer at Darjeeling Informatics. Launched in April 2025, India Job Alerts is his most focused project — dedicated to publishing verified government and PSU job notifications for West Bengal, Sikkim, and All-India candidates. Every post is cross-checked against official notifications before publishing.. Know more