Oriental Bank of Commerce

Oriental Bank of Commerce (OBC) was established on 19th Feb' 1943. OBC is one of the public sector banks in India. Its modest beginning is creditable to its founder Late Rai Bahadur Lala Sohan Lal, the first Chairman of the OBC. Within four years of coming into existence, the country partitioned, the Bank shifted its Registered Office from Lahore to Amritsar. The Oriental Bank of Commerce was nationalized on 15th April 1980, and paved its way to count amongst the strongest banks in India.

OBC has a network of 530 branches and 505 ATM's spread throughout India, out of which 490 branches offer centralized banking solutions. With High Capital Adequacy Ratio, Oriental Bank of Commerce is known be a consistent profit-making bank. It offers various services and products, like current/ savings account, general loans, educational loans, agricultural loans, etc, for the benefit of customers. For its effective services, the National Institute of Bank Management (NIBM) rated OBC Bank as "Customer Friendly" Bank.

Brief History

Oriental Bank of Commerce made a 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 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 Bank has witnessed many ups and downs since its establishment. 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 crossing the Business Mix mark of Rs 2 lacs crores as on 31st March 2010 making it the seventh largest Public Sector Bank in India, 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.

               Products and services of Oriental Bank of Commerce
Oriental Bank of Commerce or, OBC offers a comprehensive range of products and services to its individual and institutional clients they are as follows:

# Deposit Schemes 

    1. ORIENTAL 500
    2. ORIENTAL 1000
    3. Orintal Double Term Deposit
    4. OBC Aadhar
    5. Flexi Fixed Deposit Scheme 
    6. Basic Banking Account
    7. Saving Accounts
    8. Current Account
    9. Term Deposit
  10. Tax Saving term Deposit 
  11. Variable Progressive Deposit
  12. Jeevan Sarathi For PH
  13. Pragati Deposit Deposit
  14. Unnati Deposit Scheme

# Loan
    1. Loan Schemes for Minority Communities
    2. Housing Loan
    3. Car/Vehicle Loan Scheme
    4. Education Loan Scheme
    5. Personal Loan Scheme
    6. Loan to Doctors
    7. Loan to Professionals
    8. Clean Loan to Traders
    9. Loan to Defence Personnel
  10. Loan to SMEs
        a. Loan to SMEs
        b. Debt Restructuring scheme for SMEs
  11. Loan to Women
        a. Oriented Mahila Vikas Yojana
        b. Scheme for Professional &self Employed Women
        c. Scheme for Financing Working Women
  12. Other Loan Schemes
        a. Loan against Govt. Securities
        b. Agricalture Loan Scheme
             (1) Kishan Credit Card
             (2) Composite Credit Scheme for Agricultural Leading
             (3) Overdraft Facility to Farmers
             (4) Advance against warehouse Receipts to Farmers
             (5) Purchase of Land for Agriculture Purposes
             (6) Agriculture Clinic &Business Centers
             (7) Financing Two/Three Wheelers to Farmers
             (8) Scheme for Financing Commission Agents
             (9) Scheme for Financing Farmers for Purchase of Trucks & other
           (10) Scheme for Financing Farmers for Purchase of Second Hand Trucks & other
           (11) Scheme for purchase of Tractor
           (12) Scheme for  Financing Working capitalrequirement of cold storage
           (13) Scheme for  Financing Timbermechants & saw mills
           (14) Scheme for  purchase of Second Hand Tractor
           (15) Agricultural Loan against security of Gold Jewellery
        c. Laghu Udhami Credit Card
        d. Credit Guarantee Fund Trust for Micro & Small Enterprises
        e. Swarojgar credit Card Scheme

# Services
    1. NRI Accounts
        a. Non Residence External Account
        b. Non Residence Ordinary Account
        c. Foregin Currency Non-Residence
        d. Residence Foregin Currency
    2. Premium Services
        a. Internet Banking
        b. R.T.G.S.
        c. N.E.F.T.
    3. Other Services
        a. ABSA
        b. DMAT Account
        c. Foreign Remittances
        d. Cash Managment Services

                        For more information about OBC Bank please see there website
                                     https://www.obcindia.co.in/ (Official website)