Oriental Bank of Commerce
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Oriental Bank of Commerce
Public (BSE: 500315, NSE: ORIENTBANK) Banking Financial services 19 February 1943 New Delhi, India S.L.Bansal
(Chairman & MD)
Investment Banking Consumer Banking Commercial Banking Retail Banking Private Banking Asset Management Pensions Mortgages Credit Cards Rs. 11457.17 Crore (2010)  Rs. 1134.68 Crore (2010) Rs. 8237.958 Crore (2010) 15,358 (2010) www.obcindia.co.in
Revenue Net income Total assets Employees Website
Oriental Bank of Commerce (BSE: 500315, NSE: ORIENTBANK) is an India-based bank established in Lahore (then a city of British India, and currently in Pakistan), is one of the public sector banks in India. The Company operates in four segments: treasury operations, corporate/wholesale banking, retail banking and other banking business operations.
Their efforts bore fruits and performance of the bank improved significantly. The bank has progressed on several fronts crossing the Business Mix mark of Rs 2 lacs crores as on 31st March 2010 making it the seventh largest Public Sector Bank in India.. Rural Development and Retail & Priority Sector. in a unique gesture honoured the commitments made to the depositors from Pakistan and paid every rupee to its departing customers. reorienting of lending strategy through Large & Mid Corporates and establishment of new wings viz.
. 1980. Branches in the newly formed Pakistan had to be closed down and the Registered Office had to be shifted from Lahore to Amritsar. Late Rai Bahadur Lala Sohan Lal. The Bank has to its utmost credit lowest staff cost with highest productivity in the Indian banking industry. Late lala Karam Chand Thapar. At one time profit plummeted to Rs. Within a decade the bank turned into one of the most efficient and best performing banks of India. This was the turning point in the history of the bank. the Thapar House.Contents
1 History 2 Chairpersons 3 Overview 4 Amalgamation of Global Trust Bank 5 See also 6 References 7 External links
Oriental Bank of Commerce made a beginning under its Founding Father.175. The bank was nationalized on 15th April. At that time total working of the bank was Rs. achievement of 100% CBS. The period of 1970-76 is said to be the most challenging phase in the history of the Bank. to sell / close the bank. the Bank had to face partition. Within four years of coming into existence. that prompted the owner of the bank. The Bank has witnessed many ups and downs since its establishment.483 crores having 19th position among the 20 nationalised banks. the then Chairman of the Bank. Then employees and leaders of the Bank came forward to rescue the Bank. The owners were moved and had to change their decision of selling the bank and in turn they decided to improve the position of the bank with the active cooperation and support of all the employees. the first Chairman of the Bank.
M. 5. jams etc. K. Sangrur). 2. namely Khunga (Distt. OBC launched yet another unique scheme christened 'The Comprehensive Village Development Programme' on the auspicious day of Baisakhi. Bank extended the programme to more villages. 11. Ropar) and Khaira Majha (Distt. Y.The Bank is engaged in providing training to rural folk in using locally available raw material to produce pickles. P. Soni 1990 to 1996 Dalbir Singh 1996 to 2000 B. 4. 10. P. OBC is already implementing a GRAMEEN PROJECT in Dehradun District (UP) and Hanumangarh District (Rajasthan). This has provided self-employment and augmented income levels thus reforming lives of rural folk and encouraging cottage industries in rural areas.5) onwards. Talwar 1988 to 1990 S. 13. it does not allow online banking access from outside India. it covers 15 villages. Raje Majra (Distt. the 13th of April 1997 at three villages in Punjab namely Rurki Kalan (Distt. The Grameen Projects venture aims to alleviate poverty plus identify the reasons responsible for the failure or success. S. the Scheme has a unique feature of disbursing small loans ranging from Rs. phone banking NRI banking etc. The Bank has launched yet another people's participation in the planning process at grass root level essentially to tackle the maladies of poverty. N. Prithviraj 2005 to 2007 Alok Kumar Misra 2007 to 04/08/2009 T. 10 in Punjab. Thapar 1961 to 1969 R. K. Prabhu 2009 to jan 2011 Nagesh Paidah jan 2011 onwards
The bank offers features such as internet banking. Oberoi 1973 to 1976 M. Vig 1976 to 1983 P. Jind) and Narwal (Distt. Gopalakrishnan1984 to 1988 S. Narang 2000 to 2005 K. 12. Karam Chand Thapar 1946 to 1961 L. 7. 8. At present. The beneficiaries of the Grameen Project are mostly women. The pilot launch was a great success. Kaithal). 9. Emboldened by the success. 6. 4 in
. Jaladhar) and two villages in Haryana. Chairpersons
The Chairpersons (CMD)of the banks were as under: Sl No Name Period
1. 3. D. 75 (~US $1. However. Formulated on the pattern of the Bangladesh Grameen Bank.
Then OBC bank had 307 branches with Rs. GTB was a leading private sector bank in India that was associated with various financial discrepancies leading to a moratorium being imposed by RBI shortly before being merged into OBC. The Bank has implemented 14 point action plan for strengthening of credit delivery to women and has designated 5 branches as specialized branches for women entrepreneurs.69.
 Amalgamation of Global Trust Bank
On 14 August 2004. 282. The programme focuses on providing a comprehensive and integrated package providing rural finance to the villagers with Village Development as its focus. of branches No. Oriental Bank of Commerce shifted its Registered Office from Lahore to Amritsar paying every rupee to its departing customers. The business figures of Oriental Bank of Commerce India for the last five years are as under:
Rupees in Lakhs FOR THE YEAR Total Income Total expenditure Net Profit for the year AT THE END OF Capital & Reserves Deposits Advances Total Assets No. of employees The National Institute of 1998-99 204641 181629 23012 Mar-99 123148 1680488 770756 1878416 899 14447 Bank 1999-2000 267943 240081 27862 Mar-00 142840 2209521 932553 2454120 915 14398 (NIBM).
Oriental Bank of Commerce
Oriental Bank of Commerce India was established in the year 1943 on 19th February in Lahore. After partition.
Oriental Bank of Commerce Fact File
Amongst the strongest banks in India High Capital Adequacy Ratio Consistent Profit-making Bank
. thus contributing towards infrastructural development and augmentation of income for each farmer of the village.Haryana and 1 in Rajasthan. Global Trust Bank Limited (GTB) was amalgamated into OBC. Oriental Bank of Commerce was nationalised on 15th April in 1980. 152. 2000-2001 302645 282356 20288 Mar-01 154866 2468043 1107641 2707243 932 13588 rated OBC Bank 2001-2002 351438 319383 32055 Mar-02 161973 2848839 1415787 3226292 967 13589 as "Customer 2002-2003 383566 337871 45695 Mar-03 210934 2980909 1567723 3398763 989 13507 Friendly" Bank.61 crores as deposits and as advance Rs.
75 onwards. 1533 Crore as against Rs. jams etc. Oriental Bank of Commerce is focussing upon comprehensive and integrated package to rurals. This inreturn increases self-employment and adds in increasing the income levels. treasury income and large recoveries in N P A accounts. OBC India Grameen Project OBC India is implementing Grameen Projects in places like Dehradun in UP and Hanumangarh in Rajasthan. Haryana. the Bank has earned a handsome net profit of Rs. OBC India is also working upon The Comprehensive Village Development Programme. 2779 Crores last year. OBC has formulated the pattern of Bangladesh Grameen Bank with a unique feature of disbursing small loans ranging from Rs. strict control on expenses. with a growth of 55. The Grameen Project of OBC India venture aims to alleviate poverty alongwith to identify the reasons responsible for the future or success. 1163 Crore last year. 457 Crore last year. thereby registering a growth of 50 % mainly on account of reduction in cost of deposits. Retail Portfolia of OBC The retail loans of OBC have increased to Rs. 4318 Crores as against Rs. After providing for contingencies and more than required provisions against non performing assets. OBC Shareholder's Equity
.9 % of total loan assets. The Bank is providing training to rural people in using locally available raw material to produce pickles.
One of the Lowest Spreads in Banking Industry Total Working crosses the 35700 crore mark CRISIL Ratings The Highest Productivity per Employee NPA . These assets constitute 20. efficient cash management. At present it is covering number of villages in Punjab. Profitability of OBC The gross profit OBC Bank stood at Rs.One of the lowest
1. Under this programme. 686 Crore as against Rs.4%. Oriental Bank of Commerce Housing loans account for 80% of retail portfolio. Rajasthan. Dividend of OBC The Oriental Bank of Commerce has provided for payment of 30% final dividend to the shareholders in addition to 20% interim dividend already paid during the financial year 2003-04 making total dividend 50%.
More than 350 branches have been networked Current news
Oriental Bank of Commerce cuts lending.5%. 2109. deposit rates by up to 0.567.46 Crore and reached a level of Rs.5%
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. 2676.The Net worth of Oriental Bank of Commerce has improved by Rs. due to high growth in deposits as well as advances.7%).63%) while in advances the growth is 25. Technology Implementation Oriental Bank of Commerce of India has implemented Centralized Banking Solution in 21 branches till date.79 Crore against Rs. 46333 Crore last year thus registering a growth of 21. The deposit growth of OBC has been to the extent of 19.33 Crore last year.7 %(previous year 4. 56286 Crore from Rs. The business captured has resulted in 97% live computerized environment as against 93% last year.5 % (previous year 10. It will give freedom of anywhere and anytime banking to customers. The OBC Business The total business of Oriental Bank of Commerce has gone up to Rs.
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Digg Hotklix Google Bookmarks Reddit Live Bookmarks Yahoo Bookmarks Del. the bank reduced interest rate on fixed deposits with maturity between 1-2 years by 0. auto loans cheaper by at least 0. The reduction in base rate will make all kind of loans.65 per cent from 10.
. the new interest rate will be 0.25 per cent to 9. For term deposits worth Rs 15 lakh to Rs 1 crore with maturity between 46-90 days.5 per cent lower than the existing 9 per cent. The new rate would be effective from tomorrow. OBC said in a statement.us StumbleUpon Newsvine Technorati Blogmarks Facebook ApnaCircle Read more on »senior citizens|Oriental Bank of Commerce|fixed deposit rates|Bank of Baroda|auto loans Tweet
NEW DELHI: State-owned Oriental Bank of Commerce (OBC) today slashed base rate or minimum lending rate by a marginal 0. including housing.1 per cent while fixed deposit rates on select maturities by up to 0. it said.icio. The bank has reduced the base rate by 10 basis points to 10. As far as deposit rates are concerned.75 per cent.5 per cent.1 per cent.
unit trusts and Undertakings for Collective Investment in Transferable Securities. There are 3 types of U. Mutual funds are classified by their principal investments.Further the bank has increased its rate of interest applicable for senior citizens from 0. available to the general public and open-ended in nature.75 per cent. A single mutual fund may give investors a choice of different combinations of expenses by offering several different types of share classes.from 5. mutual funds must be registered with the Securities and Exchange Commission. With the reduction. The new fixed deposit rates would be effective from April 16. The most common type. Funds may also be categorized as index or actively-managed. the central bank pumped in Rs 48. bond or fixed income funds. unitized insurance funds.000 crore in the economy. stock or equity funds and hybrid funds. Exchange-traded funds are open-end funds or unit investment trusts that trade on an exchange. Mutual funds have both advantages and disadvantages compared to direct investing in individual securities. Interestingly.S. Hedge funds are not considered a type of mutual fund.6 per cent over and above the card rate. Open-end funds are most common. SICAVs. Increased in the fixed deposit rates by these banks was due to tight liquidity situation.the portion of deposits banks require to keep with the central bank -. mutual funds: open-end. While there is no legal definition of mutual fund. The term mutual fund is less widely used outside of the United States. unit investment trust and closed-end. must be willing to buy back its shares from its investors at the end of every business day. some of the large public sector banks like Bank of Baroda. For collective investment schemes outside of the United States. Bank of India raised their deposit rates upwards last month. the open-end mutual fund. They are not taxed on their income if they comply with certain requirements. overseen by a board of directors or board of trustees and managed by a registered investment advisor. see articles on specific types of funds including openended investment companies. To improve liquidity in the system. RBI in March had reduced the cash reserve ratio (CRR)-. but exchangetraded funds have been gaining in popularity.5 per cent to 0. There is controversy about the level of these expenses. Investors in a mutual fund pay the fund’s expenses.
.5 per cent to 4. Today they play an important role in household finances. They have a long history in the United States. the term is most commonly applied only to those collective investment schemes that are regulated. The four largest categories of funds are money market funds.
A mutual fund is a type of professionally-managed collective investment scheme that pools money from many investors. In the United States.
The types of securities that a particular fund may invest in are set forth in the fund's prospectus. While they are another type of commingled investment scheme. Mutual funds may invest in many kinds of securities. they must diversify their investments. Mutual funds are not taxed on their income as long as they comply with requirements established in the Internal Revenue Code. Hedge funds are not considered a type of mutual fund. A mutual fund's investment portfolio is continually monitored by the fund's portfolio manager or managers. These include:
. they are not governed by the Investment Company Act of 1940 and are not required to register with the Securities and Exchange Commission (though many hedge fund managers now must register as investment advisors). A fund manager must be a registered investment advisor. a "capital appreciation" fund generally looks to earn most of its returns from increases in the prices of the securities it holds. limit ownership of voting securities. which describes the fund's investment objective. There is an exception: net losses incurred by a mutual fund are not distributed or passed through to fund investors. investment approach and permitted investments. who are employed by the fund's manager or sponsor. The fund manager.
In the United States. The investment objective describes the type of income that the fund seeks. For example. Specifically. rather than from dividend or interest income. The type of income they earn is unchanged as it passes through to the shareholders. a mutual fund is registered with the Securities and Exchange Commission (SEC) and is overseen by a board of directors (if organized as a corporation) or board of trustees (if organized as a trust). and earn most of the income by investing in securities and currencies. also known as the fund sponsor or fund management company. The board is charged with ensuring that the fund is managed in the best interests of the fund's investors and with hiring the fund manager and other service providers to the fund. The investment approach describes the criteria that the fund manager uses to select investments for the fund. trades (buys and sells) the fund's investments in accordance with the fund's investment objective. For example. Funds that are managed by the same fund manager and that have the same brand name are known as a "fund family" or "fund complex". mutual fund distributions of dividend income are reported as dividend income by the investor.
 Advantages and Disadvantages
Mutual funds have advantages compared to direct investing in individual securities. Mutual funds pass taxable income on to their investors annually. distribute most of their income to their investors annually.
The Securities and Exchange Act of 1934 requires that issuers of securities. this act also created the Securities and Exchange Commission. which include:
Fees Less control over timing of recognition of gains Less predictable income No opportunity to customize
The first mutual funds were established in Europe. The introduction of money market funds in the high interest rate environment of the late 1970s boosted industry growth dramatically. open-end funds accounted for only 5% of the industry's $27 billion in total assets. there were approximately 360 funds with $48 billion in assets. It is now the Foreign & Colonial Investment Trust and trades on the London stock exchange. The first open-end mutual fund with redeemable shares was established on March 21. including mutual funds. They became popular during the 1920s. When confidence in the stock market returned in the 1950s. The first mutual fund outside the Netherlands was the Foreign & Colonial Government Trust. Mutual funds were introduced into the United States in the 1890s. Congress passed a series of acts regulating the securities markets in general and mutual funds in particular. report regularly to their investors. the Massachusetts Investors Trust.
. First Index Investment Trust. This fund. including mutual funds. The Revenue Act of 1936 established guidelines for the taxation of mutual funds. closed-end funds remained more popular than open-end funds throughout the 1920s. while the Investment Company Act of 1940 governs their structure.
Increased diversification Daily liquidity Professional investment management Ability to participate in investments that may be available only to larger investors Service and convenience Government oversight Ease of comparison
Mutual funds have disadvantages as well. However. The first retail index fund. the mutual fund industry began to grow again. which was established in London in 1868. One researcher credits a Dutch merchant with creating the first mutual fund in 1774. The Securities Act of 1933 requires that all investments sold to the public. After the stock market crash of 1929. These early funds were generally of the closed-end type with a fixed number of shares which often traded at prices above the value of the portfolio. be registered with the Securities and Exchange Commission and that they provide prospective investors with a prospectus that discloses essential facts about the investment. 1924. By 1970. which is the principal regulator of mutual funds. is now part of the MFS family of funds. By 1929.
Roughly half of assets in 401(k) plans and individual retirement accounts were invested in mutual funds.was formed in 1976 by The Vanguard Group. 6.
 Leading complexes
At the end of October 2011. Among the new distribution channels were retirement plans. The scandal was initially discovered by then-New York State Attorney General Eliot Spitzer and resulted in significantly increased regulation of the industry. international and target date funds) and wider distribution of fund shares. sector.7 trillion on the same date. In 2003. Their role in retirement planning is particularly significant. Total mutual fund assets fell in 2008 as a result of the credit crisis of 2008. all of which surged in popularity in the 1980s. 4. with more than $100 billion in assets as of January 31. 7. a national trade association of investment companies in the United States.S. the top 10 mutual fund complexes in the United States were:
1. 10. Some fund management companies allowed favored investors to engage in late trading. The ICI reports that worldwide mutual fund assets were $24. the mutual fund industry was involved in a scandal involving unequal treatment of fund shareholders. there were over 15. which is a practice prohibited by fund policy. according to the Investment Company Institute (ICI). Rowe Price Federated
. 3. At the end of 2010. they accounted for 23% of household financial assets. 2. or market timing. Mutual funds play an important role in U. Fund industry growth continued into the 1980s and 1990s. as a result of three factors: a bull market for both stocks and bonds.1 trillion. new product introductions (including tax-exempt bond. Vanguard Fidelity American Funds (Capital Research) BlackRock PIMCO Franklin Templeton JPMorgan SSgA T. household finances. which is illegal. specifically in 401(k) and other defined contribution plans and in individual retirement accounts (IRAs). 9. 5. headed by John Bogle. it is now called the Vanguard 500 Index Fund and is one of the world's largest mutual funds. 2011. 8. At the end of 2010.000 mutual funds of all types in the United States with combined assets of $13. Mutual funds are now the preferred investment option in certain types of fast-growing retirement plans.
there were 7.8 trillion. the price they receive may be significantly different from net asset value. these shares are also priced at net asset value.
 Open-end funds
Open-end mutual funds must be willing to buy back their shares from their investors at the end of every business day at the net asset value computed that day.971 UITs in the United States with combined assets of $51 billion. At the end of 2010. Open-end funds are the most common type of mutual fund. At the end of 2010. Instead. Investors can redeem shares directly with the fund (as with an open-end fund) or they may also be able to sell their shares in the market. they have gained in popularity recently.
 Closed-end funds
Closed-end funds generally issue shares to the public only once. UITs generally have a limited life span. at a "discount" to net asset value (meaning that it is lower than net asset value). The total investment in the fund will vary based on share purchases. there were 5. they must sell their shares to another investor in the market. established at creation. At the end of 2010. A professional investment manager oversees the portfolio. when they are created through an initial public offering. buying and selling securities as appropriate. Most open-end funds also sell shares to the public every business day. Investors who no longer wish to invest in the fund cannot sell their shares back to the fund (as they can with an open-end fund). unit investment trusts (UITs). A professional investment manager oversees the portfolio. It may be at a "premium" to net asset value (meaning that it is higher than net asset value) or. more commonly. Types
The Investment Company Act of 1940 established three types of registered management investment companies in the United States: open-end funds. buying and selling securities as appropriate.
 Unit investment trusts
Unit investment trusts or UITs issue shares to the public only once. UITs have been declining in popularity. share redemptions and fluctuation in market valuation. when they are created. Exchange-traded funds (ETFs) are open-end funds or unit investment trusts that trade on an exchange. and closed-end funds. Their shares are then listed for trading on a stock exchange. it is more commonly used to refer exclusively to the open-end type. While the term "mutual fund" may refer to all three types of registered investment companies. Their portfolio of securities is established at the creation of the UIT and does not change. Like closed-end funds. There is no legal limit on the number of shares that can be issued. Closed-end funds have been declining in popularity. there were 624 closedend funds in the United States with combined assets of $241 billion.581 open-end mutual funds in the United States with combined assets of $11. Unit investment trusts do not have a professional investment manager.
 Investments and classification
Mutual funds are classified by their principal investments. bond or fixed income funds. though money market funds are not government insured.S. the exchange-traded fund or ETF is often structured as an openend investment company. as with open-end funds. ETFs issue and redeem large blocks of their shares with institutional investors. stock or equity funds and hybrid funds. it is said to "break the buck". ETFs have been gaining in popularity. At the end of 2010.00 per share because its securities have declined in value. under normal circumstances. the "ABC New Jersey Tax-Exempt Bond Fund" would generally have to invest. The SEC requires that mutual fund names not be inconsistent with a fund's investments. there were 923 ETFs in the United States with combined assets of $992 billion. grantor trusts or bonds (as an exchange-traded note).
 Money market funds
Money market funds invest in money market instruments. For example. investment approach or specific focus. Government Money Market Fund in 1994 and the Reserve Primary Fund in 2008. Most ETFs are index funds. Investors often use money market funds as a substitute for bank savings accounts.S. at least 80% of its assets in bonds that are exempt from federal income tax. from the alternative minimum tax and from taxes in the state of New Jersey. unlike bank savings accounts. Money market funds strive to maintain a $1. which are fixed income securities with a very short time to maturity and high credit quality. Bond.
. The four largest categories of funds are money market funds. money market funds accounted for 24% of the assets in all U. Like closed-end funds. ETFs combine characteristics of both closed-end funds and open-end funds. Within these categories. meaning that investors earn interest income from the fund but do not experience capital gains or losses. Exchange-traded funds Main article: Exchange-traded fund
A relatively recent innovation. ETFs are traded throughout the day on a stock exchange at a price determined by the market. though ETFs may also be structured as unit investment trusts. At the end of 2010. If a fund fails to maintain that $1. funds may be subclassified by investment objective.00 per share net asset value. investments trust. To keep the market price close to net asset value. Only two money market funds have ever broken the buck: Community Banker's U. However. stock and hybrid funds may be classified as either index (passively-managed) funds or actively-managed funds. mutual funds. partnerships. investors normally receive a price that is close to net asset value.
and foreign securities (global or world funds).. blend/core vs. Stock funds are also subclassified according to their investment style: growth.S.S.e. They may focus on a specific industry or sector. large cap stocks generally have market capitalizations of at least $10 billion. bond funds accounted for 22% of the assets in all U. Each company's market capitalization equals the number of shares outstanding times the market price of the stock.
. The two dimensions are often displayed in a grid known as a "style box." Market capitalization or market cap indicates the size of the companies in which a fund invests. based on the value of the company's stock. stock funds accounted for 48% of the assets in all U.S. mutual funds.S.S. growth vs. or primarily foreign securities (international funds). A stock fund may be subclassified along two dimensions: (1) market capitalization and (2) investment style (i. value or blend (or core). investment-grade corporate bonds. mutual funds. or primarily foreign securities (international funds). and foreign securities (global or world funds).S. Stock funds may invest in primarily U. Bond funds may invest in primarily U.S. intermediate. value). and micro cap stocks have market capitalizations below $300 million.S. At the end of 2010. Bond funds
Bond funds invest in fixed income securities. in both U. Value funds seek to invest in stocks that appear cheaply priced. funds). Market capitalizations are typically divided into the following categories:
Micro cap Small cap Mid cap Large cap
While the specific definitions of each category vary with market conditions.or long-term). At the end of 2010. securities (domestic or U. in both U. government bonds or municipal bonds) or by the maturity of the bonds held (short-. small cap stocks have market capitalizations below $2 billion.
 Stock or equity funds
Stock or equity funds invest in common stocks. Growth funds seek to invest in stocks of fast-growing companies. Funds are also classified in these categories based on the market caps of the stocks that it holds. securities (domestic or U. Blend funds are not biased toward either growth or value. Bond funds can be subclassified according to the specific types of bonds owned (such as high-yield or junk bonds. funds).
 Front-end load or sales charge
A front-end load or sales charge is a commission paid to a broker by a mutual fund when shares are purchased.
 Index (passively-managed) versus actively-managed Main articles: Index fund and active management
An index fund or passively-managed fund seeks to match the performance of a market index. under which these fees exist. which permits funds to adopt a Plan of Distribution.
 Distribution charges Main article: Mutual fund fees and expenses
Distribution charges pay for marketing. It is expressed as a percentage of the total amount invested (including the frontend load). distribution of the fund's shares as well as services to investors. Some of these expenses reduce the value of an investor's account. others are paid by the fund and reduce net asset value. Front-end loads are deducted from an investor's purchase by means of paying the net asset value per share (the share's value) plus the commission. Hybrid funds
Hybrid funds invest in both bonds and stocks or in convertible securities.
Investors in a mutual fund pay the fund's expenses. operating expenses (which include the management fee and other fund expenses). although some invest in unaffiliated funds (meaning those managed by other fund sponsors) or in a combination of the two. meaning that they invest by buying shares in other mutual funds that invest in securities." The front-end load often declines as the amount invested increases. Operating expenses are included in a fund's operating expense ratio. while an actively managed fund seeks to outperform a relevant index through superior security selection.
. These expenses fall into four categories: distribution charges (sales loads and 12b-1 fees). asset allocation funds. named after Rule 12b-1 of the Investment Company Act of 1940. Balanced funds. Hybrid funds may be structured as funds of funds. target date or target risk funds and lifecycle or lifestyle funds are all types of hybrid funds. shareholder transaction fees and securities transaction fees. Most fund of funds invest in affiliated funds (meaning mutual funds managed by the same fund sponsor). These fees are commonly called 12b-1 fees. through breakpoints. or simply the "expense ratio". such as the S&P 500 index. known as the "public offering price.
or simply the expense ratio. Expense Limitations or Caps
Like any business. Back-end load
Some funds have a back-end load. deducted from the redemption. Typically. Yield Flooring Waivers
Often.25% of fund assets.
 No-load funds
A no-load fund does not charge a front-end load under any circumstances. With most "actively managed" funds (the adviser actively makes investment decisions based on a strategy and other disciplines as opposed to simply following or benchmarking an index). Expense Ratio. the single largest operating expense of a the fund is the Management or Investment Advisory fee. the adviser or affiliate agrees to waive fees and/or reimburse the fund to the extent ordinary annual operating expenses exceed some set ratio.
 Operating Expenses. does not charge a back-end load under any circumstances and does not charge a 12b-1 fee greater than 0. Yield Flooring or Support Waivers: Similar to an upper limit on expenses. which is paid by the investor when shares are redeemed depending on how long they are held. if any. funds have an upper limit set on annual operating expenses to keep the expense ratio fair and competitive. in times of very low interest rates like at present in 2012. These waivers result in the fund having a lower "net" expense ratio that it would otherwise. The back-end loads may decline the longer the investor holds shares.
 Expense Ratio
Annual operating expenses divided by average daily net assets for the same period of time is equal to the Operating Expense Ratio. funds incur ordinary recurring costs of operating the fund. Back-end loads with this structure are called contingent deferred sales charges (or CDSCs). Voluntary caps are not under a contractual obligation and can be discontinued at any time. yield sensitive funds such as money market funds may also have waivers in effect by advisers in order to maintain some minimum yield such as 0. which is negotiated between the fund board and the adviser (fund manager or sponsor) or other affiliates.01% annualized. Expense caps are either 'contractual' or 'voluntary'. The expense ratio highlights how much fund expenses come out of a shareholder's investment return and allows comparison from one fund to the next. Such waivers are called yield "support" or "flooring" waivers and may be in concert with traditional expense caps. Other fees and charges dilute returns but they are not included in the expense ratio.
 Expense Limitations or Caps. As front-end loads are streamed off purchases. Contractual caps exist under written agreement and usually must be in effect for one or more years. back-end loads are withheld from redemption proceeds with the amount of the CDSD.
?? Flexi timings or fixed timings . Foreign Television Channels are destroying our culture. Like that India should issue a broadcasting code and the prominence should given to the programmes Which is more important – value of the customer or value to the customer? Is the growth in India confined to the growth in Sensex ? Economic development at the cost of Ecological Degradation What should be the objective of a company – profits or customer Are ethics and business compatible? Entry of MNCs and their business ethics Principles of Mahatma Gandhi.?? One should never judge a person by external appearances. Our Culture is Decaying We are not serious about saving Wildlife/Environment The education system needs serious reforms The impact of MTV on our psyche Showing Violence and Crimes should not be allowed in films and on television. censorship is the need of the hour. Is Globalisation Really Necessary? What shall we do about our ever-increasing Population? Corruption is the price we pay for Democracy. Let us legalise gambling The rise of regional blocs threatens independent nations like India
GD .Group Discussion topics for Finance:
As a management student..which is better at work Skilled manpower shortage in India The broadcasting code in Britain should never allow the product promotion in television programmes. What India needs is a Dictatorship. are they valid today? Our country needs more MBAs than technocrats Professional management is a must to attain targeted growth
. With media publishing and telecasting trivia.Group Discussion topics for Marketing Students:
A Unipolar World spells disaster for underdeveloped countries like India. what could be done to control subprime crisis? Hard Working or smart working. Kaun Banega Krorepati is less about knowledge but more about money and personality. Beauty contests degrade womanhood Are Big Dams Necessary? Films are corrupting the Indian Youth A Gandhian State selling liquor is an anomaly Bride burning and dowry may look bad. but are an integral part of India.. Are women managers better managers… Which will be the upcoming profession in coming years… Is money is sweeter than honey in today’s world..
About Oriental Bank of Commerce (OBC) Oriental Bank of Commerce was established in 1943. The bank started its operations in Lahore. 2. Oriental Bank of Commerce is known for its minimum staff expenditure against maximum productivity in the banking sector. Products and services of Oriental Bank of Commerce Given below is an all-inclusive list of products and services offered by Oriental Bank of Commerce: Deposit Schemes 1. This was a defining moment in the bank’s history. The bank has 1. Oriental Bank of Commerce is one of the most admired public sector banks in India. Currently. 4.Y. Oriental Bank has gone through a lot of upheavals but it managed to overcome those disruptions. it has made a number of acquisitions. 7. Oriental Bank of Commerce was nationalized in 1980. The time period of 1970 to 1976 was the most difficult period in the history of Oriental Bank of Commerce. The bank has made its mark in different areas which includes accomplishment of 100% CBS. Total business of OBC has crossed Rs. OBC Aadhar ORIENTAL 500 Basic Banking Account Flexi Fixed Deposit Scheme Current Accounts Saving Accounts Tax Saving Term Deposit
. The collective effort of the employees and the management played a key role behind the bank’s recovery from that situation.508 branches in all and more than 1. Pakistan. The founder of the bank was Rai Bahadur Lala Sohan Lal who was also the first chairman of the bank. 3. 6. it is one of the most efficiently performing banks in India. 2 Lakh crores and the customer base has surpassed 13. 5. On its way towards success. the Chairman and Managing Director of OBC is Shri T. Prabhu.
Public sector should be handed over to independent professional managers Will the mushrooming of MBA institutes in India produce professional managers Management education is a luxury for a poor country like India? What will the present budget be like?
PRODUCTS Oriental Bank of Commerce
Founded in 1943. At present.000 ATMs.
Scheme for Professional & Self Employed Women Oriented Mahila Vikas Yojana Scheme for Financing Working Women Scheme for Beauty Parlor/Saloons/Boutiques/Tailoring
Agriculture Loan Scheme
1. Debt Restructuring Scheme (DRS) for SMEs (Small and Medium Enterprises) 3. 9. 4. 11. 12. 2. Kisan Credit Card-Oriented Green Card (OGS) 9. Schemes for Financing Farmers for Purchase of Trucks and Other
. List of Regional MSME Centers
Loan to Women
1.8. 10. Loan to SMEs 2. Composite Credit Scheme for Agricultural Leading 2.
Term Deposit Jeevan Sarathi for PH Variable Progressive Deposit Unnati Deposit Scheme Pragati Deposit Scheme
Vehicle/Car Loan Scheme Housing Loan Personal Loan Scheme Educational Loan Scheme Loans to Professionals Loans to Doctors Loan to Defence Personnel Clean Loan to Traders Loan to SMEs
1. 3. Scheme for Financing Farmers for Purchase of second hand Trucks and Other 10.
Scheme for purchase of Tractor 13. Agricultural Loan against security of Gold Jewellery
Other Loan Schemes Loan against Govt. Agriculture Clinic & Agriculture Business Centers 6. Advance against Warehouse Receipts to Farmers 4. Scheme for purchase of Second Hand Tractor 14. Scheme for Financing Working Capital Requirement of Cold Storage 12. Securities Swarojgar Credit Card Scheme Laghu Udhami Credit Card-Oriented business Card Scheme (OBCS) Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE)
Services NRI Services Facilities Representative Office . Scheme for Financing Commission Agents 8.Dubai PIO NRI Mode of Remittance How to Open the Account
Types of Accounts Non-Residence Ordinary (NRO) Non-Residence External (NRE) Resident Foreign Currency Foreign Currency Non-Residence
. Financing Two/Three Wheelers to Farmers
11. Purchase of Land for Agriculture Purposes 7. Overdraft Facility to Farmers 5.3. Scheme for Financing Timber Merchants and Saw Mills 15.
What is clear
.Customer satisfaction levels can be measured using survey techniques and questionnaires
C u s t o m e r s a t i s fa c t i o n i s e q u i v a l e n t t o m a k i n g su r e t h a t p r o d u c t a n d s e r v i c e performance meets customer expectations.Gaining high levels of customer satisfaction is very important to a business because satisfactionc u s t o me r s a r e mo st l i k e l y t o b e l o y a l a n d t o m a k e r e p e a t o r d e r s a n d t o u se a w i d e r a n g e o f services offered by a businessThere are many factors which lead in high levels of customer satisfaction including.Products and services which are customer focused and hence provide high levels of value for money. limit of Cheque nos & Amount Stop Payment of Cheques Clearing Instruments Inquiry
Fund Transfer Operations Funds Transfer to own accounts Funds Transfer to other accounts within Core Banking Branches of OBC
Customer satisfaction refers to the extent to which customers are happy with the products andservices provided by a business.
Customer satisfaction occurs when acquisition of products and/or services providesa minimum negative departure from expectations when compared with other acquisitions.
Customer satisfaction is the perception of the customer that the outcome of a business transaction is equal to or greater than his/her expectation.Internet Banking Services Accounts Related Operations View transactions Online Balance Inquiry Cheque Status Inquiry Statement of Account – For a particular period.
about customer satisfaction is that customers are most likely to appreciate thegoods and services that they buy if they are made to feel special. This occurs when they feel thatthe products and services that they buy have been specially produced for them or for people likethem