OBC's business figure crosses Rs 3.59 lakh cr: Official

Bengaluru: The total business figure of Oriental Bank of Commerce (OBC) has crossed Rs 3.59 lakh crore while the total bank deposits stood at Rs 2.10 lakh crores, as on December 31, 2016, a senior company official said on Sunday.

"The bank has crossed total business figures of Rs 3.59 lakh crore with total deposits being Rs 2.10 lakh crores as on December 31, 2016," Deputy General Head and Cluster Monitoring Office Head of OBC, Dinesh Kumar Vishnoi told PTI here on the sidelines of 75th anniversary celebrations of the bank.

The total income of the bank has increased to 1.22 percent year-on-year basis, he said.

Vishnoi, who is also the head of classic branches located in Karnataka, Kerala, Tamil Nadu and Puducherry also claimed that during the demonetization period, bank deposits had shot up to Rs 107 to Rs 113 lakh crore, nearly twice the amount of deposits that flowed into the banks between April to October.

He further said the bankers are anticipating that the current level of 40 to 50 percent retention of the deposits can go down to 20 to 30 percent over the course of the year.

This effects the growth in deposits at the end of FY 2017, and FY 2018 fiscal will be notable and it is higher than the 9 to 10 percent growth seen in 2015-16, he added.

On the occasion, the bank organised blood donation camp, free health check-up, and tree plantations at various locations.

It also launched two special schemes, Oriental Sanjeevani and Oriental loan for budget hotel and restaurants.

A special mobile wallet, Oriental Batuaa was also launched.