Public sector lender, Oriental Bank of Commerce (OBC) is planning to set up a full fledged branch in Dubai in order to widen its trade finance book.

"The bank has got board nod and has applied to Reserve Bank for approval," OBC executive director S Sinha said.

As a part of the process, the bank would be approaching the egulatory authorities of United Arab Emirates for clearance.

Sinha said that the Dubai branch would highly enhance business opportunities of Indian corporates in the trade finance wing.

The bank had opened a representative office in Dubai last year.

Banks like Punjab National Bank and Bank of Baroda have branches in Dubai.

Last month PNB opened a branch in Dubai International Financial Centre (DIFC). It is offering services like corporate finance including trade finance, credit for long and medium-term projects and investment related services.