Oriental Bank of Commerce has received the amount of Rs 1,186 crore towards contribution of the Government of India (GoI) in the preferential allotment of equity shares of the Bank as Government's investment and the same has been credited to Share Application Money Pending Allotment account.
This amount has been utilized to make loan loss provision in order to bring down the Net NPA ratio below the threshold under Prompt Corrective Action framework.
Oriental Bank of Commerce is a commercial bank. The Bank operates in four segments: treasury operations, corporate/wholesale banking, retail banking and other banking business operations.
