Animesh Chauhan, Managing Director and CEO
Oriental Bank of Commerce offers an attractive rate of interest on NRE/NRO/FCNR deposits, which is one of the best in the Indian banking industry
Oriental Bank of Commerce (OBC) is a public sector bank with 2,260 branches and 2,523 ATM's spread across India. During FY14-15, 125 new branches were opened and 360 new ATMs were installed. All the branches of the bank are under the CBS since March 2008.
OBC has excelled in adoption and implementation of cutting-edge technology for delivering contemporary customer services. It has put in place a state-of-the-art IT infrastructure and is providing an array of various IT products and services through all its delivery channels. OBC offers a wide bouquet of banking products for SMEs / mid corporate / retail customers. The bank was established in 1943 and nationalised in 1980 when it had a total business of Rs 4.35 billion. OBC crossed the milestone of business mix of Rs 3,500 billion as on 31/03/2015. The Capital to Risk Weighted Assets Ratio (CRAR) has improved to 11.41 per cent as on March 31, 2015 as against 11.01 per cent as on March 31, 2014.
OBC's tagline, "Where every individual is committed," is complemented by the fact that the bank has a high business per employee of Rs 164.4 million, which is one of the highest among the nationalised banks.
OBC made its foray in the international arena on 30.03.2009 with the opening of its first representative office in Dubai that has been extending assistance to NRIs and PIOs about business opportunities in India and marketing the bank's products and services.
The bank has a strong base of NRI accounts; it serves overseas Indians through various tailor-made products designed to suit their requirements. The bank has a centralised NRI cell located at its corporate office in Gurgaon, Haryana.
The bank offers the entire gamut of products to its NRI clients such as NRE/NRO savings account, NRE/NRO current account, term deposits, FCNR deposits, etc.
Several variants have been introduced for the benefit of its NRI customers such as NRE/NRO Double Deposit scheme, NRE/NRO Flexi deposit scheme, Premium Deposit scheme, etc. The bank offers an attractive rate of interest on NRE/NRO/FCNR deposits, which is one of the best in the Indian banking industry.
OBC has set up correspondent banking relationships with almost all the major international banks across the globe in all major currencies. NRIs can send remittances to India in any major currency from any corner of the world. The bank has entered into an arrangement with leading exchange houses in the UAE for effecting speed remittance directly to the account in India.