The boards of three PSU banks - Bank of Baroda, Oriental Bank of Commerce and Andhra Bank met in deference to the Finance Ministry's insistence, but quite unexpectedly they did not roll back the rate hikes announced last week.
A new wave of e-trading in partnerships with private broking houses is getting popular with banks in recent times.
Moody's has revised to positive the outlook on the long- term ratings of private sector lenders
Foreign banking major Standard Chartered Bank has tied up with Oriental Bank of Commerce for providing agency trade services to Indian importers.
Bankers see stable interest rates in near future but are worried about the spiralling global oil prices that is exerting pressure on domestic prices and exchange rate.
Shonkh Technologies International said on Tuesday its dealings with erstwhile Global Trust Bank did not involve any criminality on its part.
Central Bureau of Investigation is probing 10 companies, which have defrauded the erstwhile Global Trust Bank, which became sick due to mounting bad debts of over Rs 1,400 crore (Rs 14 billion) and was taken over by Oriental Bank of Commerce in 2004.
Oriental Bank of Commerce, which acquired Global Trust Bank last year, has filed 30 first information reports against GTB defaulters to recover Rs 1,300 crore (Rs 13 billion) of bad loans.
Oriental Bank of Commerce will shortly hire an international consultant to restructure and integrate the failed Global Trust Bank with itself by this fiscal end.
Deposit rates for non-resident Indians may rise following Tuesday's rate hike by the US central bank Federal Reserve and due to the impact of forthcoming India Millennium Deposit redemptions worth over $7 billion, bankers said on Wednesday.
After consolidating its foothold in south India through the acquisition of Global Trust Bank, Delhi-based Oriental Bank of Commerce.
Under the Goods and Services Tax, effective midnight of June 30, most of the financial services would attract a higher tax of 18 per cent as against 15 per cent as of now.
With the merger of erstwhile Global Trust Bank starting to yield rich dividends, Oriental Bank of Commerce aims to grow its business to Rs 90,000 crore (Rs 900 billion) this fiscal and trim non-performing assets to 0.5 per cent. \n
The markets opened in the positive terrain after seeing a flat close yesterday
Oriental Bank of Commerce is set to carry out a major manpower restructuring especially at the acquired Global Trust Bank unit, after it gets a report from National Institute of Bank Management.
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 Sensex closed at 11,893.79 up 233 points. The Nifty gained 66 points to close at 3,455.
Oriental Bank of Commerce on Thursday announced a tie up with Oriental Insurance Company for selling general insurance products through its branches.
The Securities and Exchange Board of India has found no insider trading in the shares of erstwhile Global Trust Bank before its merger with Oriental Bank of Commerce.
Oriental Bank of Commerce is drawing up a 'Vision Plan 2010' for becoming a global player in five years after consolidating its position in India.
Four regionally strong banks -- Bank of India, Corporation Bank, Allahabad Bank and Oriental Bank of Commerce -- are in the fray to buy out sponsor's stake in UTI Mutual Fund that manages assets worth Rs 20,000 crore
The integration process of Global Trust Bank with Oriental Bank of Commerce would be completed by June 2006, its chairman and managing director B D Narang said.
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