BOR Full Form

What is the full form of BOR?

The Bank of Rajasthan is the full name of BOR. It should be noted that BOR is frequently abbreviated. We will be concentrating on the Bank of Rajasthan in this essay. In 2010, the private sector bank BOR in India merged with ICICI Bank. The BOR promoters' refusal to reduce their stake in the company received criticism from RBI. By spending Rs. 30 billion, BOR was combined into ICICI Bank. 25 shares of the ICICI Bank dated 12 October, 1998 will be issued for each 118 BOR stock.

A Brief History of BOR

• BOR has established with an initial capital of Rs. 10.00 lacs in Udaipur in 1943.

• Eminent industrialist identified Seth Shri Govind Rama Seksaria as the Founder Chairman and Late Shri Dwarka Prasad Gupta as the first Managing Director.

• In 1948, it was classified as a Scheduled Bank. On 26 January 1983, the bank also developed Mewar Anchlik Gramin Bank in the Udaipur district of Rajasthan.

• The bank is headquartered in Jaipur, although the head 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.

Different definitions of the same form

The merger of BOR

RBI was critical of BOR's promoters now not decreasing their holdings within the business enterprise. BOR has been merged with ICICI Bank. ICICI paid Rs. 30 billion for it. As of October 12, 1998, every 118 shares of BOR could be converted into 25 shares of ICICI Bank.