Oriental Bank Of Commerce

From October 1, 2021 onwards, the existing cheque books of Oriental Bank of Commerce (OBC) and United Bank of India (UBI) will be discontinued.

The government's mega merger plan to strengthen the country's banking system came into effect on Wednesday, combining 10 state-run banks into four. Announced in August last year, the merger combines Oriental Bank of Commerce and United Bank into Punjab National Bank, to create a single lender managing businesses worth Rs 17.95 lakh crore. Similarly...

As per the scheme, Oriental Bank of Commerce and United Bank of India will be merged into Punjab National Bank; Syndicate Bank into Canara Bank; Allahabad Bank into Indian Bank; and Andhra and Corporation banks into Union Bank of India.

The government in August merged United Bank of India and Oriental Bank of Commerce with Punjab National Bank, making the proposed entity the second largest public sector bank (PSB).

Under the consolidation, the three banks will be merged into one entity to make the second-largest PSB with a business of Rs 17.95 lakh crore and 11,437 branches.

The lenders said that there will no retrenchment of staff in the merged entity.

The Oriental Bank has now issued notices declaring the duo and their companies as 'Willful Defaulters' for varying loan amounts, totaling to around Rs 289 crore, at their large corporate branch, Cuffe Parade in Mumbai.

PNB share: On August 30, Finance Minister Nirmala Sitharaman announced that PNB will be merged with Oriental Bank of Commerce (OBC) United Bank.

The Nifty PSU Bank Index was down 3.2 per cent underperforming the benchmark Nifty which was down 1 per cent.

The bank has received a communication from the Ministry of Finance that the alternative mechanism after consultation with Reserve Bank of India (RBI) has decided that Punjab National Bank, Oriental Bank and United Bank may consider amalgamation, it said in a regulatory filing on Saturday.

The Punjab National Bank, Oriental Bank of Commerce and United Bank will merge to form the country's second largest public sector bank with a business of Rs.17.95 lakh crore, Finance Minister Nirmala Sitharaman said on Friday.

State-run banks will be merged to form a dozen strong lenders, Finance Minister Nirmala Sitharaman announced on Friday. The Punjab National Bank, Oriental Bank of Commerce and United Bank will merge to form the country's second largest public sector bank with a business of Rs. 17.95 lakh crore, "1.5 times the size of Punjab National Bank". Three mo...

The government is seeking to consolidate the nation's debt-burdened state banking sector.

The government took three banks - Bank of India, Bank of Maharashtra and Oriental Bank of Commerce - out of the PCA list last month.

A RBI panel has removed Bank of India, Oriental Bank of Commerce and Bank of Maharashtra from its prompt corrective action plan list.

From October 1, 2021 onwards, the existing cheque books of Oriental Bank of Commerce (OBC) and United Bank of India (UBI) will be discontinued.

The government's mega merger plan to strengthen the country's banking system came into effect on Wednesday, combining 10 state-run banks into four. Announced in August last year, the merger combines Oriental Bank of Commerce and United Bank into Punjab National Bank, to create a single lender managing businesses worth Rs 17.95 lakh crore. Similarly...

As per the scheme, Oriental Bank of Commerce and United Bank of India will be merged into Punjab National Bank; Syndicate Bank into Canara Bank; Allahabad Bank into Indian Bank; and Andhra and Corporation banks into Union Bank of India.

The government in August merged United Bank of India and Oriental Bank of Commerce with Punjab National Bank, making the proposed entity the second largest public sector bank (PSB).

Under the consolidation, the three banks will be merged into one entity to make the second-largest PSB with a business of Rs 17.95 lakh crore and 11,437 branches.

The lenders said that there will no retrenchment of staff in the merged entity.

The Oriental Bank has now issued notices declaring the duo and their companies as 'Willful Defaulters' for varying loan amounts, totaling to around Rs 289 crore, at their large corporate branch, Cuffe Parade in Mumbai.

PNB share: On August 30, Finance Minister Nirmala Sitharaman announced that PNB will be merged with Oriental Bank of Commerce (OBC) United Bank.

The Nifty PSU Bank Index was down 3.2 per cent underperforming the benchmark Nifty which was down 1 per cent.

The bank has received a communication from the Ministry of Finance that the alternative mechanism after consultation with Reserve Bank of India (RBI) has decided that Punjab National Bank, Oriental Bank and United Bank may consider amalgamation, it said in a regulatory filing on Saturday.

The Punjab National Bank, Oriental Bank of Commerce and United Bank will merge to form the country's second largest public sector bank with a business of Rs.17.95 lakh crore, Finance Minister Nirmala Sitharaman said on Friday.

State-run banks will be merged to form a dozen strong lenders, Finance Minister Nirmala Sitharaman announced on Friday. The Punjab National Bank, Oriental Bank of Commerce and United Bank will merge to form the country's second largest public sector bank with a business of Rs. 17.95 lakh crore, "1.5 times the size of Punjab National Bank". Three mo...

The government is seeking to consolidate the nation's debt-burdened state banking sector.

The government took three banks - Bank of India, Bank of Maharashtra and Oriental Bank of Commerce - out of the PCA list last month.

A RBI panel has removed Bank of India, Oriental Bank of Commerce and Bank of Maharashtra from its prompt corrective action plan list.