2023 2024 EduVark > Education Discussion > Banks Related


  #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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Join Date: Mar 2012
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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