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OBC Full Form - Oriental Bank of Commerce

 Oriental Bank of Commerce

Oriental Bank of Commerce

  • The full form of OBC is that the Oriental Bank of Commerce. It's a public sector bank founded in Pakistan’s Lahore in 1943.
  • Within the year 1980, it had been nationalized and its headquarter is found in Gurugram, Haryana.
  • It's a network distributed throughout India of more than 2000 subsidiaries. Its declaration of vision specifies that the bank aims to be a customer-friendly premier bank dedicated to increasing stakeholders’ importance.

History of OBC

  • It was established by the late Rai Bahadur Lala Sohan Lal in Lahore, Pakistan, in February 1943.
  • The divisions in Pakistan closed down in 1947 because the partition and office were relocated from Lahore to Amritsar.
  • Its registered office was relocated to Delhi in 1951.
  • In April 1980, it had been nationalized.
  • The bank established its merchant banking unit in 1992.
  • Punjab Co-operative Bank & Bari Doab Bank combined with OBC in 1997.
  • The bank entered into an arrangement with Citibank to launch a co-branded credit card within the subsequent year.
  • It found out a Special Branch & asset recovery division in Mumbai & Delhi in 1999.
  • In 2002, a professional branch for female entrepreneurs was founded and linked up with Corporation Bank to share their atms.
  • In 2003, it collaborated with Infosys Technologies & Wipro to introduce the CBC (Centralized Banking Solution).
  • Global Trust Bank was integrated with OBC in 2004.
  • The bank signed an mou with IL & FS Investment Securities in 2006 to provide clients with the facility to trade online.
  • The bank signed into an arrangement with Escorts in 2007 to provide farmers with funds to permit them to buy tractors.
  • It joined into a distribution tie-up with the asset management firm Kotak Mahindra in 2008.

Main objectives of the OBC

  • The following statements are included within the main OBC objectives:
    • Providing creative and reliable services in line with consumer standards using state-of-the-art technology
    • Improving the technical skills of workers and fostering cooperation between them.
    • To produce wealth for clients and shareholders.

Service offered by OBC

 Service of Obc

Service of Obc

  • OBC provides its customers with a broad range of financial products in various categories, like,
    • Deposits like a term deposit, current account and saving account.
    • Retail loans like mortgage loans, vehicle loans, home loans, personal loans, etc.
    • Forex service includes trade & finance, forex card rate, foreign exchange, etc.
    • Digital banking services like ATM , BHIM , internet & mobile banking, debit card, etc.

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