What is the full form of BOR?
The full form of BOR is the Bank of Rajasthan.
Note: BOR is used as an abbreviation in multiple places. In this article, we are focussing on the Bank of Rajasthan.
BOR was a private sector bank in India, which combined with ICICI Bank in 2010. RBI was critical of promoters of BOR not reducing their holdings in the firm. BOR was integrated with ICICI Bank by paying Rs.30 billion. Each 118 BOR stock will be converted into 25 shares of the ICICI Bank dated 12 Oct 1998.
A brief history of BOR
- BOR was founded with an initial capital of Rs. 10,00 lacs at Udaipur in 1943.
- The founding chairman was an eminent industrialist who identified Seth Shri Govind Ram Seksaria, and the first general manager was Late Shri Dwarka Prasad Gupta.
- It was categorised in 1948 as the Scheduled Bank. On 26 January 1983, the bank also developed a rural bank, Mewar Anchlik Gramin Bank, in the Udaipur District of Rajasthan.
- The central office of the bank is based in Jaipur, even though the registered office is in Udaipur. The bank currently has four hundred and sixty-three branches in twenty-four states, with two hundred and ninety-four branches present in Rajasthan.
Comments