Bank of Rajasthan

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The BANK OF RAJATHAN Ltd.
Private company (BSE),
Industry Banking
Loan
Capital Markets and allied industries
Founded 1943
Headquarters Clock Tower,
Udaipur, India
Key people
G. Padmanabhan (MD & CEO)
Products Loans, Savings, Investment vehicles, etc.
Revenue INR15073.344 million (US$240 million) (year ended March 2009)
Increase INR1177.119 million (US$18 million) (March 2009)
Slogan The nation banks on us

The Bank of Rajasthan Ltd (in Hindi बैन्क ओफ राजस्थान) (BSE/ (500019 ) was a private sector bank of India which merged with ICICI Bank in 2010.

History[edit]

It was set up at Udaipur in 1943 with an initial capital of Rs.10.00 lacs. An eminent Industrialist Late Seth Shri Govind Ram Seksaria was the founder chairman. It was classified as the Scheduled Bank in 1948. The Bank also established a rural (Gramin) bank Mewar Anchlik Gramin Bank in Udaipur District in Rajasthan on 26 January 1983.

The bank's central office is located at Jaipur, although its registered office is in Udaipur. Presently the bank has 463 branches,[1][2] in 24 states, with 294 of the branches being in Rajasthan.

Merger With ICICI Bank[edit]

RBI was critical of BOR's promoters not reducing their holdings in the company. BOR has been merged with ICICI Bank. ICICI paid Rs.30 billion for it. Each 118 shares of BOR will be converted into 25 shares of ICICI Bank.[3][4][5] dated 12 oct 1998

References[edit]

  1. ^ The Bank Of Rajasthan Ltd.-Together We Prosper
  2. ^ Bank of Rajasthan – Bank of Rajasthan India – Bank Of Rajasthan Ltd
  3. ^ "BoR to be merged with ICICI". The Times of India. 18 May 2010. Retrieved 2010-08-20. 
  4. ^ "Bank of Rajasthan to merge with ICICI". The Times of India. 23 May 2010. Retrieved 2010-08-20. 
  5. ^ "ICICI-BoR merger deal valued at Rs 3041 crore". The Times of India. 24 May 2010. Retrieved 2010-08-20. 

External links[edit]