Oriental Bank of Commerce

About Oriental Bank of Commerce

Set up in 1943 at Lahore, the then part of India, Oriental Bank of Commerce (OBC) is a public sector Indian bank. Post-partition, the bank shifted to India and was nationalized in the year 1980. Since its inception, Oriental Bank has seen many ups and downs, but it has emerged unscathed out of all this turmoil. The bank enjoys a good reputation among its customers as a result of the prompt and customer friendly services offered to its clients. The National Institute of Bank Management has rated Oriental Bank of Commerce as Customer Friendly Bank.

Some of the Oriental Bank of Commerce facts is listed below:

• Regular profit making bank
• The bank has CRISIL ratings
• The productivity per employee is highest
• The bank has high Capital Adequacy Ratio
• The bank has one of the lowest spreads in the banking sector
• Ranks amongst the financially strong commercial banks in India

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 ` 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.

Address:

Harsha Bhawan, E- Block,
Connaught Place,
New Delhi - 110001
Telephone Nos.: 91-11-47651841
47651861
47651820
23415508

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