Syndicate Bank, a financial institution from India. Know more about the owner of Syndicate Bank and more organization information. Syndicate Bank, one of the major public sector financial institutions and a colonist amongst Public Sector Banks on launching CBS.
About the owner of Syndicate Bank
Syndicate Bank, was incorporated in the year 1925. Commenced at the temple town of Udupi, Karnataka on October 20, formerly called Canara Industrial and Banking Syndicate Limited.
Indian Goverment is the owner of Syndicate Bank. Syndicate Bank Limited, headquartered in the university town of Manipal, India.
The foundation of Syndicate Bank was laid by Upendra Ananth Pai, T M A Pai, and Varman Kuduva. The initial capitation of the firm was laid with just Rs. 8000/-. In fact, the primary objective of the organization was to extend financial support to the local weavers hurt by the stress in the handloom industry over mobilizing petty savings from the community.
The bank collected as low as 2 annas every day at the doorsteps of the depositors completed by its Agents following its Pigmy Deposit Scheme started in 1928. Even today the scheme exists, and under the scheme alone bank collects more than 2 Crores today. The bank was nationalized on 19 July 1969 along with 13 major commercial banks of India, by the Government of India.
About The Syndicate Bank Limited Wiki
| Upendra Ananth Pai, T M A Pai, and Vaman Srinivas Kudva.
|October 20, 1925
|Mr. L.V. Prabhakar
|Active (merged with Canara bank in 2020)
| Syndicate Bank Building
2nd Cross, Gandhinagar
Bengaluru – 560009
- Company Logo
Details of the owner of Syndicate Bank(Wiki)
Syndicate Bank, owned by Indian Government. Since the date, the bank got nationalized.
Ajay Nanavati, current chairman of Syndicate Bank. Former managing director of 3M India, the only publicly listed subsidiary. Moreover, Nanavati worked for the Birla Group and later moved to 3M when it started as Birla 3M in India in 1988. Eventually moved to Singapore, Austin, Minneapolis, and Tel Aviv before moving back to Bangalore to head 3M’s.
Mrutyunjay Mahapatra, current CEO of Syndicate Bank. He is a Post Graduate of Physics and Business Management. He had varied stints in the State Bank of India, in the country, and abroad for over 35 years before joining Syndicate Bank.
Details of the Company
For the most part, in the year 1928, The Bank introduced an innovative savings scheme, namely Pigmy Deposits, owing to the purpose to mobilize small savings and the Bank eventually took the `Small Man’s Big Bank‘ name. With the progress in banking systems in India, Syndicate Bank too saw the unveiling growth of itself.
Syndicate always existed as a catalyst for the common people in India and eventually led to the betterment of the country.
Notably by 2008, the whole branch chain of the Bank assumed 2,169 in numbers, including 644 rural,508 urban, 492 semi-urban, and another 52 metro branches. In addition, the Bank also has 21 specialized SME branches, 9 satellite offices, 11 extension counters, and 1 SB sub-office.
Finally, The bank grew its network from the domestic phase to overseas. It has a branch in London. And the bank manages National Exchange Co. in Doha and Musandam Exchange Co. in Muscat.
The bank is extending training and credit facilities for women’s empowerment and self-employment
Syndicate Bank India Limited customer care
Credit Cards and inquiries
- 1800 425 5784
- 1800 3011 3333