Type Public Founded 1925, Udupi | Headquarters Manipal | |
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Traded as BSE: 532276
NSE: SYNDIBANK Industry Banking, Financial Services Key people Shri Arun Shrivastava
(Managing Director and CEO)
Shri Ravi Shanker Pandey
(Executive Director)
Shri CH S S Mallikarjun Rao
(Executive Director) Products Finance and insurance
Consumer Banking
Corporate Banking
Investment Banking
Investment Management
Private Equity
Mortgages
Credit Cards Revenue ₹23,197.78 crore (US$3.4 billion)(2016) Stock price SYNDIBANK (NSE) ₹ 71.40 +0.15 (+0.21%)3 Apr, 3:30 PM IST - Disclaimer CEO Arun Shrivastava (15 May 2015–) Founders T. M. A. Pai, Vaman Srinivas Kudva Profiles |
Syndicate bank
Syndicate Bank is one of the oldest and major commercial banks of India. It was founded by T M A Pai, Upendra Pai and Vaman Kudva. At the time of its establishment, the bank was known as Canara Industrial and Banking Syndicate Limited. The bank, along with 13 major commercial banks of India, was nationalised on 19 July 1969, by the Government of India. The Bank is headquartered in Manipal, Karnataka, India.
Contents
- Syndicate bank
- How to activate syndicate bank mobile banking live demo tamil banking
- Business
- Mergers
- Regional Rural Banks
- In the news
- Branches and Controlling Offices
- International Business Centres
- Financial Inclusion
- Capital Planning
- Corporate Tie Up
- Corporate Strategies
- Going Forward
- Syndicate Manipal School of Banking
- Syndicate Nitte School of Banking
- References
How to activate syndicate bank mobile banking live demo tamil banking
Business
The business with a capital of 8000 rupees. T M A Pai, Upendra Pai and Vaman Kudva strove together to set up the bank. The first branch of the bank started its operations in 1925 at Udupi, in Dakshin Kannada district in Karnataka state. By 1937, it had secured its membership as a clearing house at Mumbai. The primary objective of the business was to extend the financial assistance to local weavers. Initially, the bank collected as low as two annas from the door steps of the depositors daily through its agents. This type of system wherein the agents of the bank come doorsteps to collect deposit is still prevailing in India and is referred to as the Pigmy Deposit Scheme
Mergers
As time progressed, twenty banks merged with the Canara Industrial and Banking Syndicate Limited including the Maharashtra Apex Bank Limited and Southern India Apex Bank Limited. The name of the bank was changed to Syndicate Bank Limited in 1964 and the head office of the bank was shifted to Manipal. The bank expanded its operations not only on the domestic front but also overseas. It has a branch in London and the bank manages National Exchange Co. in Doha and Musandam Exchange Co. in Muscat. By 1978, it opened its 1000th branch at Hauz Khas, Delhi. Currently it has over 3500 branches and all branches are offering corebanking-e-banking services under anywhere-anytime-anyhow banking. Syndicate Bank has one branch in London, United Kingdom.
Regional Rural Banks
Syndicate Bank sponsored the first regional rural bank in India by name Prathama Bank, in Moradabad district Uttar Pradesh on 2 October 1975. The stocks of the Syndicate Bank are listed on Bombay Stock Exchange, National Stock Exchange, Mangalore Stock Exchange and Bangalore Stock Exchange. Syndicate Bank made a partnership with UNEP to initiate a successful solar loan programme. It is a four-year $75855.6 million effort, launched in April 2003 to help accelerate the market for financing solar home systems in southern India. Presently, the bank is sponsoring 3 RRBs and all are profit making having total business of Rs.42101 crore with 1348 branches as on 31.03.2015.
In the news
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Bank has been conferred "Best Bank Award" amongst all the Banks in the RSETI movement by Sri Jairam Ramesh, Hon’ble Minister for Rural Development, Government of India. Bank has been awarded Banking Excellence Award 2013 for the second best public Bank in overall performance by State forum of Bankers Club Kerala. Bank has been awarded for Record Breaking Performance during Synd LIC Saptah (2 to 7 December 2013) by marketing 15119 policies Highest by any of the Bancassurance Partners during a week by Life Insurance Corporation of India
As part of a Bank’s brand building exercise and to harness its image, Bank has repositioned its Logo by changing the colour combinations. The combinations of Orange, Yellow, Black & White colours give uniqueness to the Logo. The repositioning of logo is aimed at providing a more clear understanding for which the organisation stands for, build loyalty from customers, establishing a brand identity, and also to provide a more contemporary look to its logo in a continuously changing & dynamic business environment.
Bank is recruiting around 3000 young officers to replace retiring officers.
Branches and Controlling Offices
SyndicateBank has eight Field General Managers Offices(FGMO) for administration and business purpose. The FGMOs are in Bangalore, Chennai, Delhi, Hyderabad, Kolkata, Lucknow, Mumbai, and Manipal.
The Bank has 51 Regional Offices(RO) that ensure smooth functioning and control business operations in the various regions of the country. The regional offices are headed by an AGM, DGM cadre.
SyndicateBank has a strong presence across India. The bank has 3859 Brick and Mortar Branches including an overseas Branch in London, 12 Extension counters, and 38 satellite offices as of 31st Dec 2016.
International Business Centres
1. For international business, the Bank having full-fledged Office at Mumbai.
2. SyndicateBank has overseas Branch at London, United kingdom.
3. SyndicateBank is managing M/s. Musandam exchange, exchange company in Oman.
Financial Inclusion
(BSBDA) as on 31.03.2015. Of which 6.058 lakh accounts were opened during the quarter ended as on 31.03.2015. The balance outstanding in these accounts is Rs. 3611.81 crore as on 31.03.2015 (103.793 lakh accounts).
programmes were organized during the year up to 31.03.2015, in which 5.74 lakh persons were benefitted.
of Rs. 505 crore as at 31.03.2015.
Capital Planning
Corporate Tie Up
Bank has entered into strategic tie-up with the following Corporates:-
Loan borrowers of the Bank on optional basis.