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Oriental Bank of Commerce to open ten more new branches

Tuesday, March 8, 2016
Visakhapatnam

The Oriental Bank of Commerce (OBC) will open 10 more new branches in Telangana and Andhra Pradesh during the next financial year.

The Executive Director of the Bank Rajkiran Rai G. distributing Mudra loans to 15 entrepreneurs at Asilmetta branch here said that the bank had 95 branches in the region to cater the needs of the customers in the two States. The Mudra loans were given starting from Rs.20,000 to Rs.1 lakh. He said that the bank had introduced schemes to all MSME customers. The schemes include MSME Plus, Vishesh and MSME at attractive rate of interest.

On the business front, Rajkiran said that a total business of Rs.8,158 crore as on March 31, 2015 which went up to Rs.8,641 crore by December 31, 2015 and current account and savings bank contribute 22 per of the total deposits.


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