Bank of Rajasthan

The BANK OF RAJATHAN Ltd.

Type	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	₹15,073.344 million (US$220 million) (year ended March 2009)
Net income	₹1,177.119 million (US$17 million) (March 2009)
Website	http://www.bankofrajasthan.com

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

History

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 and Late Shri Dwarka Prasad Gupta was the first General Manager. It was classified as the Scheduled Bank in 1948. The Bank also established a rural (Gramin) bank Mewar Anchlik Gramin Bank in Ahmedabad District in Gujarat 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

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

External links

• History
• official Website

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