Oriental Bank Of Commerce

With his appointment, there will be 12 directors on the board, of which, 9 will be independent directors constituting 75 per cent of the board, with two women independent directors.

RBI excludes 6 PSBs from Second Schedule of RBI Act

A bank mentioned in the Second Schedule of the Reserve Bank of India Act is known as 'Scheduled Commercial Bank'. These six banks merged with other public sector banks (PSBs) with effect from April 1.

PNB gets stock exchanges' nod to trade over 266 crore shares post merger with 2 other PSBs

With the amalgamation coming to effect from the beginning of the current fiscal on April 1, 2020, PNB has now become the second largest bank in India.

All branches of Oriental Bank of Commerce, United Bank of India start functioning as PNB branches

The amalgamation of Punjab National Bank, United Bank of India and Oriental Bank of Commerce has come into effect from April 1, 2020.

Punjab National Bank announces share exchange ratio for merger with Oriental Bank, United Bank

The bank also said the board has fixed March 25 as the date for issuing and allotting its equity shares to the shareholders of the two other banks.

New name, logo of merged entity of UBI, PNB, OBC to be unveiled soon: Official

The new entity will be the second-largest bank in the country after State Bank of India (SBI) with a total business volume of Rs 18 lakh crore, he said.

OBC requests FinMin to give new name for merged entity: CEO

"This is an amalgamation of equals," the bank's Chief Executive Officer and Managing Director Mukesh Kumar Jain told PTI in an interview here.

OBC Q3 profit jumps 39.11% to Rs 201.66cr

The bank, which is going to be merged with another state-run lender Punjab National Bank, had reported a profit of Rs 144.96 crore in October-December quarter a year ago.

Oriental Bank cuts MCLR for various tenors by up to 0.15% from January 10

The bank has decided to reduce the MCLR for different tenors with effect from January 10, 2020, it said in a regulatory filing.

Market Headstart: Nifty seen opening flat; Biocon, Mindtree top buys

Trends on SGX Nifty indicate a positive opening for the broader index in India, with a 16.5 points gain or 0.15 percent. Nifty futures were trading around 11,277-level on the Singaporean Exchange.

34 functional teams to smoothen merger of UBI, PNB, OBC

The merger is scheduled to come into force from April 1 next year.

Govt appoints Mallikarjuna Rao as MD and CEO of PNB

Rao, 57, currently the Managing Director and Chief Executive Officer of Allahabad Bank, has been appointed to the new post up to September 18, 2021.

OBC to offer retail, small biz loan products linked with repo from October 1

Interest rates on these products will directly be linked to an external benchmark, which in this case is the repo rate, the bank said in a release

Punjab National Bank to merge with OBC, United Bank to form India's 2nd largest PSB

The consolidated bank will have the second largest branch network in India hereafter, with 11,437 branches.

RBI imposes fine of Rs 1.5 crore on Oriental Bank of Commerce

The aforesaid penalty is required to be paid within 14 days from the date of receipt of the RBI order, the state-owned lender added.

Oriental Bank of Commerce cuts MCLR by up to 10 bps

Earlier this week, RBI Governor Shaktikanta Das said he expects faster transmission of the three successive repo rate cuts totalling 75 basis points.

Over Rs 2.05 lakh crore frauds in 11 years: ICICI Bank, SBI and HDFC among top victims

Some of the foreign banks operating in India also reported fraud cases worth crores during the last 11 fiscal years.

OBC slashes one-year MCLR by 5 bps to 8.70%

The bank has revised the marginal cost based lending rate (MCLR) for three loan tenors with effect from June 11, 2019, it said in a regulatory filing.

Oriental Bank of Commerce cuts MCLR by 0.10% for various tenors

MCLR for one-month loan and 6-month tenor has been reduced by 0.10 percent to 8.35 percent and 8.60 percent, respectively.

Oriental Bank of Commerce allots 13.89 cr shares to govt following capital infusion

Earlier in January, the government had infused capital in OBC, following which RBI removed the lender from its prompt corrective action (PCA) framework.

ICRA upgrades outlook on PNB, BoI, 2 other lenders

Following infusion of capital in these banks, their financial health improved leading RBI to remove them from Prompt Corrective Action (PCA).

SBI, Oriental Bank put on sale stressed accounts to recover dues of Rs 5,740 crore

The country's largest lender SBI has invited bids from asset reconstruction companies (ARCs) and financial institutions (FIs) to recover an outstanding of Rs 4,975 crore.