The full form of BOR is the Bank of Rajasthan. In 2010, BOI, a private sector bank in India, merged with ICICI Bank. RBI criticised BOR’s promoters for not reducing their stake in the company. BOR paid Rs. 30 billion to ICICI Bank to be integrated. The 118 BOR stock will be converted into 25 ICICI Bank shares on October 12, 1998.
A brief history of BOR
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- In 1943, BOR was established in Udaipur with a founding capital of Rs. 10,000,000.
- A well-known industrialist named Seth Shri Govind Ram Seksaria served as the organization’s founding chairman, while the late Shri Dwarka Prasad Gupta served as the organization’s first general director.
- In 1948, it was classified as a Scheduled Bank. On January 26, 1983, the bank established Mewar Anchlik Gramin Bank in the Rajasthani district of Udaipur.
- Despite being registered in Udaipur, the bank’s central headquarters is located in Jaipur. With two ninety-four divisions in Rajasthan, the bank currently has four sixty-three branches spread throughout twenty-four states.