BANKING AFFAIRS

Detailed explanation-1: -Rai Bahadur Lala Sohan Lal the first Chairman of the Bank, founded OBC in 1943 in Lahore. Within four years of its coming into existence, OBC had to face Partition.

Detailed explanation-2: -PNB was founded on May 19, 1894 in Lahore. 1895 : PNB opened for business on 12 April, 1895 at Ganpatrai Road in Lahore.

Detailed explanation-3: -Oriental Bank of Commerce made a beginning under its Founding Father, Late Rai Bahadur Lala Sohan Lal, the first Chairman of the Bank. Within four years of coming into existence, the Bank had to face partition.

Detailed explanation-4: -Oriental Bank of Commerce (OBC) is a Government of India undertaking that was incorporated in 1943. Back then, its business activities included monetary intermediation of commercial banks, saving banks and discount houses. In the year 1951, bank’s registered office was relocated to Delhi, from Lahore in Pakistan .

Detailed explanation-5: -State-owned Punjab National bank on Wednesday said all nation-wide branches of United Bank of India and Oriental Bank of Commerce has started functioning as PNB branches.