Oriental Bank of Commerce

1980
 
 - The Oriental Bank of Commerce Constituted through an Act of
 Parliament on 11th July.  The Bank transacts all kinds of banking
 business.
 
 1993
 
 - 12,80,000 shares of Rs 10 each already issued & subscribed.
 6,00,00,000 shares allotted at a premium of Rs 50 per share to
 Indian
 Financial Institutions.  60,00,000 shares at a premium of Rs 50 per
 share to Mutual Funds.  480,00,000 share at a premium of Rs 50 per
 share to Indian public.  23,80,000 shares to employees (additional
 20,86,200 shares are taken up).
 
 1997
 
 - Two Banks namely Punjab Co-operative Bank Ltd., and Bari Doab Bank
 Ltd., were amalgamated with the bank under Government of India
 notification on 7th April.
 
 - Ten branches of these two banks which were taken over re-started
 their operations as Oriental Bank of Commerce branches w.e.f.  8th
 May.
 
 - The correspondent network of the bank consisting of 138 major
 banks
 all over the world and 27 NOSTRO Accounts enables the bank to meet
 the
 foreign exchange requirements of its clientele.
 
 1998
 
 - The Bank had 841 branches, comprising 247 rural branches, 271
 semi-urban branches, 220 urban branches and 103 Metropolitan
 branches.
 
 - OBC is also launching credit cards shortly for which it has
 already
 tied up with Master-Card.
 
 - Oriental Bank of Commerce (OBC) has become the first public sector
 bank in the country to join hands with Citibank to launch OBC
 co-branded credit card.  The formal agreement to this effect was
 signed
 between the two partners on 27th July.
 
 - The launch of OBC card provides us access to Citibanks' world
 class
 banking technology and processing expertise which will enable us to
 provide better value to our customers.
 
 - Union Bank of India has launched a new deposit scheme called
 `Sahaj
 Jama Yojana'.
 
 1999
 
 - Oriental Bank of Commerce proposes to enter the insurance business
 in
 collaboration with Switzerland-based company, Zurich Re.
 
 - The bank has set up special branch, asset recovery branch, one
 each
 at Delhi and Mumbai and will also open the same in other parts of
 the
 country in future.
 
 2000
 
 - Oriental Bank of Commerce decided to set up a life insurance
 venture
 with a foreign partner.
 
 - Mr. B.D. Narang has taken over as Chairman and Managing Director,
 of
 the bank with effect from July 17.
 
 - Mr. B.D. Narang has bagged the Indira Gandhi Rajbhasha Award for
 the
 year 1999-2000 for the Bank's outstanding achievements in
 Implementation of Official Language Policy.
 
 2002
 
 -Opens a specialised branch for women entrepreneurs
 
 -Slashes interest rates on home loans
 
 -Revises deposit rates
 
 -Raises Rs 200 crore Tier-II capital through issue of bonds
 
 -Ties up with Corporation Bank to share each other's ATM network
 
 2003
 
 -Cuts domestic term deposit rates
 
 -Slashes home loan rates by 0.75-pc
 
 -Approves return of Capital held by Central Govt.
 
 -Revises interest rates, margins on SSI advances
 
 -Unveils electronic bill pay service
 
 -Slashes lending rates for Small Scale Industries (SSI)
 
 -Joins hands with Infosys Technologies Ltd. and Wipro Ltd. for its
 Centralised Banking Solution (CBS)
 
 -Punjab National Bank (PNB) ties up with Oriental Bank of Commerce
 (OBC) to share ATMs
 
 -Small Industries Development Bank of India (SIDBI) enters into
 alliance with the Oriental Bank of Commerce (OBC) to jointly work on
 projects in the field of small-scale, infrastructure and service
 areas
 
 - Shri Vaidya Devendra Triguna has been appointed as non-official
 Director of the Bank
 
 -OBC in alliance with MasterCard has launched OBC PrePaid Card
 
 -The company  has launched  a housing loan package aimed exclusively
 at the salaried class from government, semi-government, public sector
 and reputed private sector organisations.
 
 2004
 
 -Oriental Bank of Commerce has informed that Shri Karuna Sagar
 Principal, Bankers Training College Mumbai has been appointed as a
 Director of the Bank in place of Shri B.K. Vasdev, Regional Director,
 Reserve Bank of India, Kanpur w.e.f. January 9, 2004.
 
 -New Holland Tractors ties up Oriental Bank of Commerce
 
 -Oriental Bank induct Infy, Wipro for implementing IT project
 
 - The Government of India on August 13 sanctioned the scheme for
 amalgamation of the GTB with OCB that came into effect on August 14
 
 2005
 
 -  Oriental Bank of Commerce (OBC) has recovered Rs 100 crore of
 non-performing asset (NPAs) of the beleagured Global Trust Bank,
 which was merged into it in July, and hopes to recover another Rs
 100-150 crore soon.
 
 -Government approves the second public issue of the Delhi-based
 Oriental Bank of Commerce (OBC). The Rs 2,000-crore issue will bring
 down government equity in the public sector bank to 51% from 66%
 currently.
 
 - Mr K.N. Prithviraj appointed as the new Chairman and Managing
 Director, Oriental Bank of Commerce.
 
 - Oriental Bank of Commerce in consultation with all the Book Running
 Lead Managers to the issue, has fixed the issue price at Rs 250 per
 share.
 
 -Oriental Bank of Commerce appoints Ms H A Daruwalla as Chairman and
 Managing Director upto December 12, 2008
 
 2006
 
 -Oriental Bank of Commerce (OBC) has informed that the Bank has
 signed the Memorandum of Understanding (MOU) with the IL & FS
 Investment Securities Ltd, for providing Online / Offline Share
 Trading facility for its customers.
 
 -Oriental Bank of Commerce (OBC) has informed that the Central Govt.
 has appointed Sh. Kamal Bhushan, Chief Manager, of the Bank as
 Officer Employee Director on the Board of Directors of the Bank for a
 period of three years with effect from Nov 23, 2006 or until his
 successor is nominated or till he ceases to be an officer of the Bank
 whichever is earlier.
 
 -Oriental Bank of Commerce has informed that the Central Govt. has
 appointed Sh. V Vijayasai Reddy, Chartered Accountants, Chennai, as
 part time non official Director under Chartered Accountant category
 on the Board of Directors of the Bank for a period of three years
 with effect from date of notification (December 14, 2006) and/or
 until further orders, whichever is earlier.
 
 2007
 
 - Oriental Bank of Commerce has raised its Benchmark Prime Lending
 Rate (BPLR) by 75 basis points to 12.50 per cent with effect from
 February 23.
 
 - Oriental Bank of Commerce (OBC) has joined hands with Escorts Ltd,
 a tractor manufacturer, for providing retail tractor finance to
 farmers.