Change The Branch and IFSC code of OBC Bank After Merger


                    A. GENERAL CONCERNS

1.What are the objectives of the amalgamation  w.e.f. 1 April 2020?


Amalgamation of Oriental Bank of Commerce and United Bank of India                                      into Punjab National Bank

The announcement of amalgamation by Honorable Finance Minister was made with the following objectives:
       Unlocking potential through consolidation - creation of Next Gen Banks
       Repositioning PSBs with scale for building of USD 5 Trillion Economy
       Big banks with enhanced capacity to increase credit
       Creation of a bank with a strong national presence and international                  reach
       Operational efficiency gains to reduce cost of lending
       Enhanced risk appetite
       Wider offerings with enhanced customization
       Better ability to raise resources from market

2.How big will be the amalgamated bank?

The amalgamated bank will be the second largest public sector bank in the country having a business of Rs. 18 lakh crores (approx.), 11,000 branches (approx.) and a workforce of over 1 lakh.

3.How will this amalgamation impact me  
   as a customer?

       The customer will be impacted in a positive manner as             under:

     Will be associated with a larger Bank, having a          
        widespread pan-India network and better capital base.

     Access to a larger number of branches and ATM   

        network and next generation banking technology.

     Access to a wider array of products, credit facilities and          best of banking services.
4.Are Oriental Bank of Commerce and  
   United Bank of India getting closed?

    No. Both these banks are being amalgamated into Punjab National Bank, with the name of the amalgamated bank being Punjab National Bank.

5.Will some branches be closed after  

   amalgamation?

No. There shall be no immediate branch closures in any of the Banks.


In future, if there are some closely located branches of the three Banks, they may be merged/shifted with prior notice to our esteemed customers.

6.I have all the three banks’ branches in my locality. Which branch will service my banking related requests and what will happen to the interpersonal relationship I have developed over time?


You will continue to be served by your present branch of your respective bank. The existing practice of interpersonal relationship you have with your branch will prevail with the amalgamated bank.

Additionally, you will be serviced with the following 14 inter-operable services which can be availed at any existing branch of PNB, OBC or UBI:
 Cash Deposit
 Cash withdrawal through cheque
 Inter-bank fund transfer*
 Intra-bank fund transfer through any branch**
 NEFT Outward
 Stop Payment of Cheque
 FD Opening
 RD Opening
 FD Receipt Printing
 Passbook Updating
 Account Statement
 Balance Enquiry
 Cheque Status Enquiry
 Account Level Enquiry

*e.g. Fund transfer to any PNB/OBC/UBI account through any PNB/OBC/UBI branch where at least one account is in the servicing bank


**e.g. Fund transfer between 2 accounts of OBC through PNB/UBI bank branch

7.Why should one open account or start banking relations with Oriental Bank of Commerce/ United Bank of India? Isn’t it advisable to approach Punjab National Bank?


Opening of account or starting of banking relations with Oriental Bank of Commerce or United Bank of India is as good as doing it with Punjab National Bank. From the date of amalgamation i.e. 01.04.2020, we all will be ONE. You can open a new account in any existing branches of PNB, OBC or UBI which will be treated as a new account in the amalgamated bank.


The amalgamated bank will have best in class features of products and services from all the three banks.

8.Will the toll-free numbers/customer care email IDs of any bank discontinue after amalgamation?


All our toll-free numbers and customer care email IDs will continue to be operational for the amalgamated bank until further notification. In addition, you can access the customer care helpline of all the three banks through any toll-free number.


9.What will happen to the corporate website of Oriental Bank of Commerce and United Bank of India?


You will be able to browse across all the websites of the amalgamating banks with the facility of a common landing page.



 B. QUERIES RELATED TO GENERAL BANKING

10.Do I need to submit my KYC documents once again?

If your KYC is updated in banks’ record, you are not required to submit any KYC documents again.

11.Whether account details will change (Account No., IFSC, MICR, Debit Card etc.)? Will I have to close my account?

The existing Account No., IFSC, MICR, Debit Card etc. will continue post amalgamation, until further notification. Your existing account in all three amalgamating banks will continue with all its services.

12.What will happen to my cheque book/passbook?

The cheque book/passbook will be valid after the date of amalgamation until further notification.

13.After amalgamation, whether there will be any limit/restriction in cash withdrawal from my account?

No, the cash withdrawal limit remains the same as before.

However, for cash withdrawal from any of the three amalgamating banks other than your original bank, there is a temporary limit of three financial transactions per day.

14.What will happen to the internet and mobile banking services?


We are committed to ensure customers are not affected during the integration. Also, the amalgamated bank will have best features of Internet & Mobile Banking services of all the three banks.


The existing internet and mobile banking services of PNB, OBC and UBI will continue to be operational in the amalgamated bank until further notification.

15.What will happen to my debit card after amalgamation?

Your existing ATM cum debit card will be valid until date of expiry printed on the debit card. Your debit card will be renewed upon its expiry.

16.What will happen to my credit card after amalgamation?

PNB – Your existing credit card shall be valid until the date of expiry printed on the credit card. Your PNB credit card will be renewed upon its expiry.

OBC – Your existing OBC SBI credit card shall be valid until the date of expiry printed on the card. Your credit card will be renewed upon its expiry. You may also approach PNB for a fresh credit card for exciting services and offers.


UBI – Your existing credit card shall be valid until the date of expiry printed on the credit card. Your credit card will be renewed upon its expiry. You may also approach PNB for a fresh credit card for exciting services and offers.

17.What about the points and loyalty rewards accrued in the cards?

The existing reward points will be retained in the amalgamated bank. Further information in this respect will be shared separately.

18.Will some ATMs be closed after amalgamation?

No. There will be no immediate closure of ATMs. Moreover, each customer can now benefit from a network of 13,000+ ATMs without any additional charge.

19.Can a customer of Oriental Bank of Commerce & United bank of India access Punjab National Bank ATM and vice-versa Post amalgamation?

Yes. Post amalgamation, customer of Oriental Bank of Commerce and United bank of India will be able to access Punjab National Bank’s ATM and vice versa without any additional charges subject to Terms and conditions as stipulated by RBI.

20.How do I update or register my mobile/ e-mail ID?

You will have to register and update your mobile number or e-mail ID at any branch of the original bank. Once all technology systems are integrated, you will be able to update your details seamlessly.

21.Will there be any new service charges that will be levied on my account?

We have harmonized the service charges for customers of the amalgamated bank. The revised service charges are available on the banks’ websites.

22.Is there going to be a change in the Minimum balance requirements?

Minimum balance requirements for savings and current account along with the charges for not maintaining the minimum balance have been uploaded on the respective bank’s website.

23.I have accounts in two/three of the three amalgamating banks.

What will happen to my accounts in these banks?

The accounts in all the banks will/can continue, until otherwise communicated. Further, please note that as per RBI guidelines, a customer should have only one Customer information File (CIF) / Customer ID (Cust-ID) irrespective of number of accounts.

24.Whether Customer ID/CIF/User ID will be same for net banking purposes or whether all the account will be integrated under Common Customer ID/CIF/User ID?

Any change in Customer ID/CIF/User ID will be communicated to account holder well in advance. Until then the existing Customer ID/CIF/User ID will continue.

25.What will happen to my salary/pension account opened in amalgamating banks?

Your existing salary/pension accounts will continue to function post amalgamation, with access to wider array of products and services at an expanded network of branches and ATMs.

The 14 inter-operable services listed above are applicable for your salary/pension account as well.

26.Will there be a change in the Interest rates on my RD/FD and savings account?

The current rate of interest for existing RD/FD will continue till maturity. For FD, renewal will be done with the latest term deposit rates of the amalgamated bank.

The deposit rate on savings account has been revised. The revised rates are available on the banks’ websites as well as in the branch premises.

27.What happens to lockers, if any branches get closed / shifted?

There will be no immediate branch closures of any of the three Banks. In future, if some closely located branches of the three Banks are to be merged/shifted; existing lockers in them will be also shifted to nearby / new branches. Any change will be communicated separately in advance to our esteemed customers.

28.What will happen to the insurance policy I have taken through any of the amalgamating banks? How will the premium payment be implemented post amalgamation?

All the insurance policies taken through any of the three amalgamating banks will be valid until maturity. Any changes in Policy/Payment process will be communicated.

29.What will happen to the ECS/NACH arrangements/standing instructions for auto debit of utility payments, Loan EMIs, RD Instalments, Credit Card payments etc.?

All ECS/NACH arrangements/standing instructions for utility payments, Loan EMIs, RD Instalments, Credit Card payments and other services shall function without any disruption to the customer. There is no need to resubmit your mandate.

30.What will happen to my DPID/DEMAT account post amalgamation?

Your DPID (DEMAT account(s) ID) through any of the bank(s) will be functional with their holding in equity and other investment products.

For any changes in the future, customers shall be notified.

31.What will happen to the merchants onboarded for collection of their various kinds of fees through online/offline Mode upon amalgamation?

There will be no immediate changes in any terms & conditions of existing arrangement with Merchants. However, post amalgamation; the facilities will be governed by the guidelines/policies of the amalgamated bank. Any changes in the terms & conditions will be informed in advance to avoid inconvenience to the customer. Services rendered through execution of Tripartite/Bipartite agreements will be continued.

32.What will happen to MDSS (Mini Deposit Shalpa Sanchay, also known as Mini Deposit Saving Scheme) upon amalgamation?

The Scheme will continue as usual.

For any changes in the future, customers shall be notified.


C. QUERIES RELATED TO LOANS

33.Will I have to resubmit loan documents post-amalgamation?

Resubmission of loan documents will not be required. Certain statutory documents will be requested for, if previously not submitted, as per routine practice.

34.What will happen to the loans or
lines of credit I have taken?

The existing Terms & Conditions (T&C) will continue as per agreements with existing bank until the date of amalgamation. Post-amalgamation, T&C along with rates will be linked to T&C of the amalgamated bank for which, information will be accordingly communicated to you.

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