Bandsaw Tool/Loop Cut?

Which is blenders equivalent to the Maya bandsaw tool, and if it does not have this tool has anyone thought of implementing it?

I do not know Maya but given your title in edit mode press KKEY to get a menu of Cutting tools. This may be what you are looking for.

If not post a description of Maya’s bandsaw tool for more help

In Edit mode, use Ctrl+R for loop cut, that should do what you need.