#1
April 8th, 2017, 05:31 PM
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What Do You Know About Syndicate Bank
I got topic for school project on Syndicate Bank. So I want to know all about this Bank. So tell me what do you know about Syndicate Bank?
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#2
April 9th, 2017, 09:59 AM
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Re: What Do You Know About Syndicate Bank
The Syndicate Bank was established in 1925 at Udapi the abode of Lord Krishna in coastal Karnataka with a capital of Rs.8000/- by three visionaries - Sri Upendra Ananth Pai, a businessman, Sri Vaman Kudva, an engineer and Dr.T M A Pai, a physician. The bank collected as low as 2 annas daily at the doorsteps of the depositors through its Agents under its Pigmy Deposit Scheme started in 1928. This scheme is the Bank's brand equity today and the Bank collects around Rs. 2 crore per day under the scheme. The Bank is well equipped to meet the challenges of the 21st century in the areas of information technology, knowledge and competition. The Bank has launched an ambitious technology plan called Centralised Banking Solution (CBS) whereby 500 of our strategic branches with their ATMs are being networked nationwide over a 4 year period. Nationalisation - Bank's Catalytic Role 1961 Industrial Finance Department was set up to encourage advances to Small Industries and Entrepreneurs in keeping with the policy of assisting the common man. 1968 Bank's commitment to the philosophy of social lending since inception provided the spark for introduction of social control measures in the country . 32% of the Bank's branches were in rural areas as against 22% for the entire Banking system. 1969 Bank was nationalised on 19th July 1969. Bank was acknowledged as a live example of mass banking and as a powerful catalyst of social change. Nationalisation therefore merely meant change of ownerhsip. 1995 Established Hi Tech Agriculture Branches Awards Won By The Bank Over The Years 1999 FICCI AWARD for institutional initiative in the field of "Rural Development" to RUDSETI jointly sponsored by Syndicate Bank 2001 Banking Technology Award for innovative use of Banking Applications on INFINET awarded by IDRBT, Hyderabad 2003 Banking Technology Award conferred on SyndicateBank by IDRBT, Hyderabad for 2003 2006 "Special Award for Use of IT for Customer Service in Semi-Urban and Rural Areas", conferred by IDRBT, Hyderabad for 2006 Best Core Banking Project Award for Large Banks in 2006 awarded by The Asian Banker 2007 Sri C.P.Swarnkar, Chairman & Managing Director received ‘Best Banker’ award from Dehali Kannadige Patrike, 2009-2010 Best Performer award by NABARD for Highest Average Loan Size under SHG -Bank linkage programme among commercial banks operating in Karnataka. The Bank received Second Best award in the area of Education Loans from NDTV Profit. 2010- 2011 The Bank received National Award for excellence in lending to Micro enterprises from the Ministry of MSME, Govt. of India. Andhra Pragathi Grameena Bank (sponsored by SyndicateBank) was selected by the A.P. Govt. as the Best Bank in the State in the field of agriculture financing. |
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