The Oriental Bank of Commerce (OBC) in the third week of February 2017 launched five new products to mark its 75th foundation day.
The newly launched products are –
i. Oriental Batuaa (mobile wallet)
ii. Oriental Budget Hotels and Restaurants
iii. Oriental Sanjeevani
iv. Oriental Prepaid Card
v. Oriental Premium Card.
While the Oriental Prepaid Card is a RuPay card for individuals as well as the corporate, the Oriental Premium card is a RuPay based platinum international debit card with airport lounge access.
While Oriental Budget Hotels and Restaurants helps individuals, proprietors, companies in setting up new hotels, restaurants, lodges and motels, Oriental Sanjeevani is a specialised scheme for doctors for setting up new hospitals and clinics.
About Oriental Bank of Commerce (OBC)
• The Oriental Bank of Commerce is one of India’s leading scheduled commercial banks.
• It was established by Rai Bahadur Lala Sohan Lal in 1943 in Lahore.
• Within four years of its coming into existence, the OBC had to shift its registered office from Lahore to Amritsar in view of the partition of the British India in August 1947.
• The bank was nationalised on 15 April 1980. At the time of takeover by the government, OBC ranked 19th among the 20 nationalised banks.
• The bank’s vision statement is – “To be a customer friendly premier bank committed to enhancing stakeholder value.”
• The bank’s objectives are -
i. To provide quality, innovative services with state-of-the-art technology in line with customer expectations
ii. To enhance employees’ professional skills and strengthen cohesiveness
iii. To create wealth for customers and other stakeholders
• In 1997, OBC acquired two banks - Bari Doab Bank and Punjab Cooperative Bank.
• In August 2004, the Oriental Bank of Commerce has acquired the Global Trust Bank (GTB). The acquisition brought with it 103 branches, which increased the OBC's branch strength to 1092.
When: February 2017