Full Form of OBC Bank, Objective, History, Services, Mission and Vision

About OBC Bank

Objective of OBC Bank

• Providing innovative and dependable services in accordance with client expectations through the use of cutting-edge technologies.
• Improving workers' technical abilities and encouraging teamwork in order to generate money for clients and shareholders.

Mission of OBC Bank

• To provide innovative and high-quality services in accordance with customer expectations by utilising cutting-edge technology.
• Improve employee professional skills and foster employee cohesion.
• To make money for both customers and shareholders.

Vision of OBC Bank

History of OBC Bank

• It was founded in February 1943 in Lahore, Pakistan, by the late Rai Bahadur Lala Sohan Lal.
• Pakistan's divisions were abolished in 1947, when the administration and office were transferred from Lahore to Amritsar.
• In 1951, its registered office was moved to Delhi.
• It was nationalized in April 1980.
• In 1992, the bank created its commercial banking division.
• In 1997, OBC merged with Punjab Co-operative Bank and Bari Doab Bank.
• The bank reached an agreement with Citibank to create a co-branded credit card the next year.
• In 2002, a professional branch for female entrepreneurs was established, and they collaborated with Corporation Bank to share ATMs.
• It teamed with Infosys Technologies and Wipro to launch the CBC in 2003. (Centralized Banking Solution).
• In 2004, Global Trust Bank merged with OBC.
• In 2007, the bank entered into an agreement with Escorts to assist farmers with money to purchase tractors.
• In 2008, it formed a distribution partnership with the asset management business Kotak Mahindra.
• The joint venture, Punjab National Bank, became live in April 2020, becoming India's second-largest bank and the country's most important public sector bank.

Services Provided by OBC Bank

• Savings accounts benefited students, entrepreneurs, and salaried employees.
• Customers could open current accounts with the bank, which included a variety of banking features such as financial transfers and the ability to receive checks and cash.
• An OBC home loan was available to individuals or groups of designated individuals (co-borrowers) with a guaranteed source of regular income.
• OBC offered qualified clients three different personal loan plans, each with a flexible payback period.
• Vehicle loans were available for all types of four-wheelers and two-wheelers, as well as used automobile purchases.
• Customers who attended prestigious universities in India and abroad could select from five different education loans.
• Customers who already have a current or savings account can open a Flexi fixed deposit.
• Customers could benefit from excellent interest rates on recurring deposits known as Progressive Deposits.
• OBC, in collaboration with SBI, provided two types of credit cards to its clients to meet a variety of needs, including commerce, commuting, and dining.
• Customers could obtain debit cards that included a variety of services, such as cash transfers through ATMs, add-on cards, and mobile banking.
• OBC clients could contact customer service via SMS, email, or phone 24 hours a day, seven days a week if they had a question, an account-related inquiry, or feedback.
• Customers could check their account status through a variety of channels, such as missed call service, online banking, mobile banking, and so on.
• OBC clients could access mini statements through net banking, mobile banking, SMS, ATMs, and by calling the customer service hotline.
• Term deposits, current accounts, and savings accounts are examples of deposits.
• Retail loans include mortgage loans, auto loans, house loans, personal loans, and so on.
• Trade and finance, forex card rate, foreign exchange, and other forex services are available.
• ATMs, BHIM, internet and mobile banking, debit cards, and other digital financial services are available.