Oriental Bank of Commerce

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Oriental Bank of Commerce

Type Public
Banking
Industry
Financial services
Founded 19 February 1943
Headquarters New Delhi, Delhi, India
T.Y. Prabhu
Key people
(Chairman and MD)

Investment Banking
Consumer Banking
Commercial Banking
Retail Banking
Products Private Banking
Asset Management
Pensions
Mortgages
Credit Cards
Revenue ▲ Rs. 11457.17 Crore (2010) [1]
Profit ▲ Rs. 1134.68 Crore (2010)[1]
Total assets ▲ Rs. 8237.958 Crore (2010)[1]
Owner(s) Government of India
Employees ▲ 15358[1]
Website https://www.obcindia.co.in

Oriental Bank of Commerce, established on 19 February, 1943, in Lahore (then a city of

British India, and currently in Pakistan), is one of the public sector banks in India.Oriental
Bank of Commerce made a modest beginning under its Founding Father, Late Rai Bahadur
Lala Sohan Lal, the first Chairman of the Bank.Within four years of coming into existence,
the Bank had to face the holocaust of partition. Branches in the newly formed Pakistan had to
be closed down and the Registered Office had to be shifted from Lahore to Amritsar. Late
lala Karam Chand Thapar, the then Chairman of the Bank, in a unique gesture honoured the
commitments made to the depositors from Pakistan and paid every rupee to its departing
customers. The foundation of customer service thus laid has ever since remained Oriental
Bank's prime philosophy and has been nurtured well as a legacy by all its successors, year
after year. The Bank has witnessed many ups and downs since its establishment. It has seen
many upheavals in the 66 years of its existence and on every trying situation; it has emerged
successful. The period of 1970-76 is said to be the most challenging phase in the history of
the Bank. At one time profit plummeted to Rs.175, that prompted the owner of the bank, the
Thapar House, to sell / close the bank. Then employees and leaders of the Bank came forward
to rescue the Bank. The owners were moved and had to change their decision of selling the
bank and in turn they decided to improve the position of the bank with the active cooperation
and support of all the employees. Their efforts bore fruits and performance of the bank
improved significantly. This was the turning point in the history of the bank. The bank was
nationalized on 15th April, 1980. At that time total working of the bank was Rs.483 crores
having 19th position among the 20 nationalised banks. Within a decade the bank turned into
one of the most efficient and best performing banks of India. The bank has progressed on
several fronts, such as crossing the Business Mix mark of Rs.1.50 lacs crores, achievement of
100% CBS, reorienting of lending strategy through Large & Mid Corporates and
establishment of new wings viz., Rural Development and Retail & Priority Sector. The Bank
has to its utmost credit lowest staff cost with highest productivity in the Indian banking
industry.

The Chairpersons (CMD)of the banks were as under:- Sl No Name Period 1 Shri Karam
Chand Thapar 1946 to 1961 2 Shri L. M. Thapar 1962 to 1969 3 Shri R. P. Oberoi 1973 to
1976 4 Shri M. K. Vig 1976 to 1983 5 Shri P. S. Gopalakrishnan1984 to 1988 6 Shri S. P.
Talwar 1988 to 1990 7 Shri S. K. Soni 1990 to 1996 8 Shri Dalbir Singh 1996 to 2000 9 Shri
B. D. Narang 2000 to 2005 10 Shri K. N. Prithviraj 2005 to 2007 11 Shri Alok Kumar Misra
2007 to 04/08/2009 12 Shri T. Y. Prabhu 2009 onwards

Banks enjoys good reputation among customers due to its prompt and customer friendly
services in comparison to other nationalised banks.

The Bank has launched yet another people's participation in the planning process at grass root
level essentially to tackle the maladies of poverty. The Grameen Projects venture aims to
alleviate poverty plus identify the reasons responsible for the failure or success.

OBC is already implementing a GRAMEEN PROJECT in Dehradun District (UP) and

Hanumangarh District (Raiasthan). Formulated on the pattern of the Bangladesh Grameen
Bank, the Scheme has a unique feature of disbursing small loans ranging from Rs. 75 (US $2)
onwards. The beneficiaries of the Grameen Project are mostly women.The Bank is engaged
in providing training to rural folk in using locally available raw material to produce pickles,
jams etc. This has provided self-employment and augmented income levels thus reforming
lives of rural folk and encouraging cottage industries in rural areas.

OBC launched yet another unique scheme christened 'The Comprehensive Village
Development Programme' on the auspicious day of Baisakhi, the 13th of April 1997 at three
villages in Punjab namely Rurki Kalan (Distt. Sangrur), Raje Majra (Distt. Ropar) and Khaira
Majha (Distt. Jaladhar) and two villages in Haryana, namely Khunga (Distt. Jind) and Narwal
(Distt. Kaithal). The pilot launch was a great success. Emboldened by the success, Bank
extended the programme to more villages. At present, it covers 15 villages; 10 in Punjab, 4 in
Haryana and 1 in Rajasthan. The programme focuses on providing a comprehensive and
integrated package providing rural finance to the villagers with Village Development as its
focus, thus contributing towards infrastructural development and agumentation of income for
each farmer of the village. The Bank has implemented 14 point action plan for strengthening
of credit delivery to women and has designated 5 branches as specialized branches for
women entrepreneurs.

Amalgamation with Global Trust Bank

On 14 August 2004, Global Trust Bank Limited (GTB) was amalgamated into OBC. GTB
was a leading private sector bank in India that was associated with various financial
discrepancies leading to a moratorium being imposed by RBI shortly before being merged
into OBC.

Vision & Mission Statement Our Vision

To be a sound all India, customer centric, efficient retail bank with contemporary size,
technology and human capital; endeavouring to enrich lives across all sections of society; and
committed to upholding the highest standards of corporate governance.

Our Mission To provide the finest banking services by upgrading human capital and infusing
advanced technology, thereby achieving total customer satisfaction; and being reckoned as
the “Best Bank” in the Industry on all efficiency parameters. To enhance shareholders’
wealth by ensuring sound growth of business and make valuable contributions to national
economic growth.

Oriental Bank of Commerce Projects

Oriental Bank of Commerce undertakes projects that involve people's participation at the
grassroots level to tackle social issues. Currently the bank is involved in implementing
Grameen Project in the states of Uttar Pradesh and Rajasthan. The project is modeled on the
pattern of Bangladesh Grameen Bank's scheme for disbursing small loan amounts ranging
from Rs. 75 onwards. Mostly women benefit from this scheme and this project is aimed
towards poverty alleviation and identifying of reasons behind its success or failure.

Besides the Grameen Project, Oriental Bank of Commerce is involved with several other
schemes, which are aimed at improving the living conditions of the people in the selected
areas. The Comprehensive Village Development Program is a scheme focused on providing a
complete and integrated package that gives rural finance to the villagers with village
development being the focus. This contributes towards the infrastructural development and an
increase in the income of the farmers in the village. Oriental Bank also works towards
training the rural people in using the locally available raw materials to make products like
jam; pickles etc and thus, enhance the cottage industry in these areas.
Oriental Bank of Commerce Services

Oriental Bank of Commerce offers various services to its clients. Some of the services
offered include Loans, Deposit, NRI Services, Internet Banking, Tele-banking Service,
International Proton Debit Card, SMS Banking, Savings Account, Current Account, Flexi
Fixed Deposit, Cash Management Services, DeMAT Services, CASA Deposit scheme,
Variable Progressive Deposit, PRAGATI Deposit scheme, and Tax Saving Schemes, Suvidha
Deposit, Term Deposit etc.

The bank offers Real Time Gross System (RTGS) service to clients. Under this banks and
financial institutions having account with RBI can transfer funds to one another on an instant,
final and irreversible basis during business hours. This facility can be used on behalf of the
customers for the transfer of funds to other banks.

National Electronic Fund Transfer (NEFT) is another facility available to the customers. The
Reserve Bank of India started this system for banks and financial institutions through which
fund transfer operation would take place. As of now all the 1402 Service outlets of the
Oriental Bank of commerce can offer this facility to their customers.

Oriental Bank of Commerce is a leading Indian nationalized bank with a strong financial
base. Oriental Bank of Commerce loans comes in a wide variety of categories. The options
are virtually endless. There is one for everybody. The bank also has customized loans for
rural India.

Some Oriental Bank of Commerce loans are stated below.

• Housing loan
• Loans for defense personnels
• Car loan or vehicle Loan scheme
• Clean loan for traders
• Education Loan scheme
• Loans for professionals
• Personal loan scheme
• Loans for doctors

Oriental Bank of Commerce Home Loans

Oriental Bank of Commerce Home Loans are extended for the purpose of purchase or
construction of flats or residential houses. The security pledged here is the mortgage of the
property in question. It may be noted that salaried individuals, HUF, self-employed
professionals, farmers, businessman and the like are eligible for this type of loan. There exist
a host of terms and conditions related to this loan.

Oriental Bank of Commerce Car Loans

Oriental Bank of Commerce Car and Vehicle Loans are available for the procurement of new
vehicles like scooters, jeeps, motorcycles and cars. The vehicles must be private vehicles
meant for non-commercial usage. For procuring this type of loan the gross salary of the
applicant need to be Rs.10,000/- p.m for a car. The comparable figure for a two -wheeler is
Rs. 6,000/- p.m. The loan has a host of terms and conditions attached to it. Oriental Bank of
Commerce loans are also available for financing autos and taxis.

Oriental Bank of Commerce personal loans

Oriental Bank of Commerce personal loans are extended for meeting personal expenses of
applicants, expenditure for family functions, expenses related to marriages, educational
expenses and the like. This loan can also be utilized for medical treatment (for self and or
dependents involving hospitalization). Even travel expenses including hotel costs can be
covered under this. Loans extended under this scheme involve various terms and conditions.

Oriental Bank of Commerce Education Loans

Oriental Bank of Commerce Education Loans are available for financing higher education.
Finances are available for payment of admission fees, procurement of books, equipments,
stationary, monthly fees, examination fees and the like. There exist a wide array of terms and
conditions attached to this loan. The maximum loan granted for study in India is Rs.10.00
lacs and the comparable figure for studying abroad is Rs.20.00 lacs.

SBI Commercial and International Bank Ltd. Loans comprise a whole lot of variants. Under
personal loans there exist consumer loans, education loans, home loans, car loans and the
like. SBICI corporate loans comprise options like Import Finance and Export Finance.

SBI Commercial and International Bank Ltd Corporate Loans

SBI Commercial and International Bank Ltd Corporate Loans are loan products which are
customized for different corporate requirements. Finances are provided for working capital,
imports and exports. Term loans and bank guarantees are also available.

SBI Commercial and International Bank Ltd personal loans

The maximum loan extended under the SBI Commercial and International Bank Ltd personal
loan scheme is Rs.1,00,000 or five times the gross salary of the applicant, whichever amount
is less. The minimum loan amount is Rs. 25,000. Another condition is that the net disposable
income (salary) of the applicant needs to be half of the concerned gross salary, after the
payment of EMI installment. The minimum gross salary of applicants need to be Rs. 12,000
per month.

SBI Commercial and International Bank Ltd Home Loans

SBI Commercial and International Bank Ltd Home Loans have an upper ceiling of Rs.
40,00,000. The lower ceiling is Rs. 25,000. NRI's are also granted housing loans depending
upon the bank's discretion. The bank determines the loan amount to be granted after making
an assessment of the repayment capacity of an applicant.
SBI Commercial and International Bank Ltd Education Loans

SBI Commercial and International Bank Ltd Education Loans are in the range of Rs.2 lacs to
15 lacs. For studies in India the upper loan ceiling is Rs. 7.50 lacs. One eligibility criterion
for accessing the loan is first class marks in the last qualification examination taken by the
applicant.

SBI Commercial and International Bank Ltd Car Loans

SBI Commercial and International Bank Ltd Car Loans have a maximum ceiling of Rs.
8,00,000 and a minimum ceiling of Rs. 50,000. The loan amount does not exceed Rs. 5 lacs
for vehicles, which are old. SBI Commercial and International Bank Ltd also grants mortgage
loans and finances against securities and shares to its customers.