Diabytes
Oriental Bank of Commerce News
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eOBC and eUNI cheque book discontinued.
Cheque book invalid from 1.10.2021.
Replace your old cheque book.
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Old chequebooks of the account holders of the two banks will be of no use starting from October 2021.
Oriental Bank of Commerce and United Bank of India were merged with Punjab National Bank.
The merger took effect on 1 April 2020.
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All the old IFSC codes are discontinued and the new codes are being granted by the anchor banks.
Oriental Bank of Commerce, United Bank of India, Syndicate Bank, Andhra Bank, Corporation Bank and Allahabad Bank customers will face the issue.
Account-holders of all the above banks should start sharing the new IFSC codes.
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With this, Punjab National Bank is set to become the second-largest lender in the country.
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A masked man looted Rs 1.5 Lakhs from the Oriental Bank of Commerce in Delhi's Tilak Nagar locality on Wednesday (February 12, 2020). According to Delhi Police, the man entered the bank after overpowering the security guard and fled from the spot after collecting the cash.
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An unidentified man, wearing a mask, looted Rs 1.5 Lakhs from the Oriental Bank of Commerce in Delhi's Tilak Nagar locality on Wednesday (February 12, 2020).
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The development comes ahead of the OBC's upcoming merger with the Punjab National Bank (PNB) which - in February 2018 - had admitted to a massive fraud perpetrated by Nirav Modi and Choksi running into over Rs 13,500 crore, sending the entire banking industry in a spin.
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Following infusion of capital in these banks, their financial health improved leading RBI to remove them from Prompt Corrective Action (PCA).
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In case of Oriental Bank of Commerce, the net NPA has come down to less than 6 per cent as the government has infused sufficient capital, it said.
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These PSBs reportedly have a cumulative loss of Rs 21,646.38 crore for the financial year 2017-18.
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The Central Bureau of Investigation (CBI) on Thursday questioned Punjab Chief Minister Captain Amarinder Singh’s son-in-law Gurpal Singh in connection with Oriental Bank of Commerce fraud worth Rs 109 crore.
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Case has been booked against Karol Bagh-based Dwarka Das Seth International Pvt Ltd for alleged bank loan fraud to the tune of Rs 389.85 crore
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Being implemented in phases since April 1, 2013, India is expected to fully implement Basel III standards by March 2019.
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Oriental Bank is the seventh state-run lender to be put under a corrective action plan, which requires a bank to enact curbs on hiring, branch expansion and taking on new loans.
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The move will place various restrictions on the public sector lender including on fresh loans and dividend distribution.
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"This is to inform that the bank has revised the base rate from 9.50 per cent per annum to 9.45 per cent per annum with effect from 03.10.2017," Oriental Bank of Commerce said in a regulatory filing.
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The bank said the change of MCLR will come into effect from September 11.
Public sector lender Oriental Bank of Commerce on Tuesday said it will raise up to Rs 1,000 crore by issuing Basel III compliant bonds on private placement basis.
The total business figure of Oriental Bank of Commerce (OBC) has crossed Rs 3.59 lakh crore while the total bank deposits stood at Rs 2.10 lakh crores, as on December 31, 2016, a senior company official said on Sunday.
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Indigo and GoAir airline on Friday filed objections to interim applications of the consortium of banks led by Oriental Bank of Commerce, which pleaded before the Debt Recovery Tribunal under garnishee proceedings to direct the budget carriers to deposit the money to be paid to Airbus with it instead of paying to the aircraft maker in the Vijay Mallya case.
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