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BOR Full Form - Bank of Rajasthan

 Bank of Rajasthan

Bank of Rajasthan

  • The full form of BOR is that the Bank of Rajasthan. BOI was a private sector bank in India which combined with ICICI Bank in 2010.
  • RBI was critical of not making the promoters of BOR reduce its holdings within the firm. BOR was integrated with ICICI Bank by paying Rs.30 billion.
  • Each 118 BOR stock are going to be converted into 25 shares of the ICICI Bank dated 12 Oct 1998.

A brief history of BOR

  • BOR was founded with an initial capital of Rs. 10,00 lacs at Udaipur in 1943.
  • The founding chairman was an eminent industrialist who identified Seth Shri Govind Ram Seksaria, and therefore the first general director was Late Shri Dwarka Prasad Gupta.
  • It was categorized in 1948 because the Scheduled Bank. On 26 January 1983, the bank also developed a rural bank, Mewar Anchlik Gramin Bank, within the Udaipur District of Rajasthan.
  • The headquarters of the bank is based in Jaipur, even though it's registered in Udaipur. The bank currently has four sixty-three branches in twenty-four states, with two ninety-four of divisions in Rajasthan.

Merger With ICICI Bank

  • RBI was critical of BOR's promoters not reducing their holdings within the company. BOR has been merged with ICICI Bank. ICICI paid Rs. 30 billion for it. Each 118 shares of BOR are going to be converted into 25 shares of ICICI Bank Dated 12 Oct 1998.

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