Oriental Bank of Commerce (OBC) will expand its reach in the region with opening of a separate regional office in Raipur and 12 branches in both the States, said OBC Chairman and Managing Director (CMD) Sl Bansal here on Wednesday.
While addressing media persons, Bansal said that the bank in near future will concentrate on retail and agriculture sector in the state. Bank presently have 65 branches in 25 districts of the state with business of Rs 5121 crore. Bank is soon going to increase its presence in 7 more districts of the state.
Bansal further said that bank has installed electricity fans and constructed public conveniences in 126 Primary Schools. Provision has been made for clean drinking water and solar panels were installed in schools for uninterrupted power back-up.
Bansal, on name and shame policy under which banks have decided to publish in newspapers photographs and details like names and addresses of willful loan defaulters, said that bank has requested State Bank of India (SBI) to file a SlP in court as Madras High court has permitted publishing of photograph of defaulter while Calcutta high court has opposed it.
He further said that bank expects to increase its market share in small and medium enterprises (SME) sector by 20 per cent in the coming years. Bank envisages that the Bank will reach a Total Business Mix of Rs.7,50,000 crore by March, 2018. During the current year, the Bank has envisaged to grow by 18 per cent in total business and plans to open 125-150 branches in the country.