The crisis-ridden Global Trust Bank would be merged with Oriental Bank of Commerce, RBI said on Monday.
Oriental Bank of Commerce will set up specialised cells for small and medium enterprises and corporate sectors across the country to facilitate faster credit processing for these sectors.
Finance Minister Nirmala Sitharaman on Thursday said the country needs big and world-class banks, and discussions are on with the Reserve Bank and lenders in this regard.
Oriental Bank of Commerce will open two regional offices this week, including one in Bhubneswar as the bank focuses on eastern India to grow organically. "We will inaugurate the regional office in Bhubaneswar on December 9," a top OBC official told P
Finance Minister Nirmala Sitharaman on Tuesday allayed apprehension that privatisation of state-owned banks would hurt financial inclusion and national interest. She said the bank nationalisation done in 1969 has not yielded the desired result as far as financial inclusion was concerned.
Fresh recruitment would help bank in meeting its man power requirements for its proposed branch and business expansion
Oriental Bank of Commerce has posted a net profit of Rs 1215.70 million for the quarter ended December 31, 2002 as compared to Rs 857.40 million in the quarter ended December 31, 2001.
The market proved tenacious in afternoon trades on buying interest in Old Economy and FMCG stocks. In addition, renewed buying was observed in banking stocks.
'The Indian consumer is moving so quickly and they have so many options.'
'Earnings growth will be the main driver of India's market in 2026, with profits expected to rise 9% to 10% in H2 FY26 and accelerate to 12% to 15% in FY27.'
The recipe for Indian higher education institutions to succeed in the global markets is excellence in academics, promoting contemporary socially relevant material, and enabling individuals (learners) to realise their full potential, suggests N Ravichandran.
Oriental Bank of Commerce on Thursday announced a tie up with Oriental Insurance Company for selling general insurance products through its branches.
'I don't know how long cinema will survive.'
Bank of Baroda plans to set up a joint venture in Malaysia with two other Indian banks - Bank of Maharashtra and The Oriental Bank of Commerce.
State-run Bank of Baroda and Oriental Bank of Commerce are among those facing scrutiny.
SBI announced a 0.40 per cent cut in lending rate to 9.30 per cent, which is the most competitive in the market at present.
Banking PSU stocks were being drubbed today following reports that the Centre may charge a premium on returned equity by these banks.
Global rating agency Fitch has upgraded its support ratings for several Indian banks, including ICICI Bank, HDFC, Punjab National Bank, Canara Bank, Bank of India and IDBI among others.
BofA Merrill also upgrades its price objectives for private banks, retaining ICICI Bank Ltd as its top pick, and HDFC Bank Ltd and Axis Bank Ltd as its 'preferred' names.
The cases pertain to State Bank of India, Punjab National Bank, Andhra Bank, Oriental Bank of Commerce, Indian Overseas Bank, Allahabad Bank, Canara Bank, Dena Bank, Punjab and Sind Bank, Central Bank of India, Union Bank of India, IDBI Bank, Bank of Baroda, Bank of Maharashtra and Bank of India.
Sanjib Jha, CEO, Coverfox Insurance Broking, answers your health and auto insurance related queries.
Executive directors from different banks are eligible to be promoted to the post of chairman and managing director.
Rating agency Moody's has placed 13 Indian banks, including State Bank of India, ICICI Bank and Punjab National Bank, on watch for possible downgrade under a global review of systemic support available for the banking sector.
Out of the 12 executive directors announced on Wednesday, five will fill vacancies with immediate effect, while the remaining will be promoted as and when posts are vacant.
Oriental Bank of Commerce along with Bank of Baroda and Bank of Maharashtra is to form a joint venture in Malaysia, for which they are awaiting Reserve Bank's nod.
The government is set to increase its stake in Bank of Baroda (BoB), Oriental Bank of Commerce (OBC) and Dena Bank.
The finance minister, in her Budget speech, should focus more on what she is directly responsible for, rather than on programmes where her role is largely supportive, notes Nitin Desai.
The public-sector lenders were yet to get a formal proposal on sale from HSBC.
Finance Minister Arun Jaitley said the magnitude of the alleged black money transfer through state-owned BoB will only be known after completion of the multi-disciplinary probe.
PSU bank stocks are witnessing hectic activity these days and are now among the top traded stocks on the bourses.
The government has already announced infusion of Rs 10,086 crore in Bank of India, Rs 5,500 crore in Oriental Bank of Commerce and Rs 2,159 in United Bank of India.
Out of these seven PSBs, Bank of India is likely to get the highest amount of Rs 10,086 crore, followed by Oriental Bank of Commerce, which might get Rs 5,500 crore through recapitalisation bonds
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