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SyndicateBank
Head Office : Manipal - 576104.

BRIEF HISTORY

Syndicate Bank was established in 1925 in Udupi, 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 - who shared a strong commitment to social welfare. Their objective was primarily to extend financial assistance to the local weavers who were crippled by a crisis in the handloom industry through mobilising small savings from the community. 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 progress of Syndicate Bank has been synonymous with the phase of progressive banking in India. Spanning over 80 years of pioneering expertise, the Bank has created for itself a solid customer base comprising customers of two or three generations. Being firmly rooted in rural India and understanding the grassroot realities, the Bank's perception had vision of future India. It has been propagating innovations in Banking and also has been receptive to new ideas, without however getting uprooted from its distinctive socio-economic and cultural ethos. Its philosophy of growth by mutual sustenance of both the Bank and the people has paid rich dividends. The Bank has been operating as a catalyst of development across the country with particular reference to the common man at the individual level and in rural/semi urban centres at the area level.

The Bank is well equipped to meet the challenges of the 21st century in the areas of information technology, knowledge and competition. A comprehensive IT plan is being put in place and the skills and knowledge of the Bank's personnel are being upgraded through a variety of training programmes to promote customer delight in every sphere of its activity. 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.

MEMORABLE MILESTONES IN A 82-YEAR JOURNEY

Growing Far And Wide

1925	On 10.11.1925, the business of the Bank commenced in Udupi with the name "Canara Industrial and Banking Syndicate Ltd.," a joint Stock Company with just one employee.
1928	First branch of the Bank opened at Brahmavar in Dakshina Kannada District
1937	Bank became a member of the Clearing House for the first time at Bombay.
1946	29 branches opened in a single day in rural areas.
1953	Took over the assets and liabilities of 2 Local Banks viz. Maharashtra Apex Bank Ltd. and Southern India Apex Bank Ltd. 20 Banks merged with the Bank during the period 1953-1964.
1957	100th branch opened at Ilkal in Karnataka
1962	Entered Foreign Exchange business by opening Foreign Exchange Department at Bombay.
1963	Name of the Bank changed from "Canara Industrial & Banking Syndicate Ltd." to "Syndicate Bank Limited". Head Office was shifted to Manipal on 19.4.1964.
1966	Economic Research Department set up. One of the first few Banks to emphasise on research in Banking even before nationalisation.
1969	Bank had 306 branches at the time of nationalisation of which 66% were in Rural and Semi Urban centres. Opened a branch at Port Blair in Andaman and Nicobar islands
1970	First Staff Training College started at Head Office
1971	First specialised branch in Foreign Exchange opened at Delhi.
1972	Opened a branch at Lakshadweep islands
1976	First overseas branch opened at London on 17.8.76.
1983	Took up management of Al Shabei Finance and Exchange Co. in Doha
1984	Took up management of Musandam Exchange Co. in Muscat
1984	1000th branch opened at Delhi Hauz Khas
1989	1500th branch opened at Kanakumbi
1991	First Specialised Industrial Finance Branch opened at Mumbai.
1995	First Specialised Housing Finance Branch opened at Mangalore
1999	Bank raised Capital of Rs.125 Crore in Oct.1999 from more than 4 lakh shareholders
2000	First Specialised Capital Market Services branch opened at Mumbai
2001	First branch under CBS (Core Banking Solution) started operation at Bangalore.
2002	Centralised Banking Solution under the brand name "Syndicate-e-banking" launched at Delhi, Mumbai, Bangalore and Manipal.
2003	Bank enters into MOU with Bajaj Allianz for distribution of Life Insurance products.
2003	Toll Free Voice Mail System for redressal of grievances introduced.
2004	Bank ties up with United India Insurance Co. Ltd. for distribution of Non-Life Insurance products
2004	Utility bill payment services through Internet banking introduced.
2005	Introduced On-line reservation of Railway Tickets through Indian Railway Catering & Tourism Corporation Ltd. (IRCTC) for Internet banking customers of our Bank.
2005	Bank approached the Capital Market with Rs.5 Crore equity shares at a premium of Rs.40 through Book building route Bank collected Rs.250 Crore and the issue was oversubscribed by 29.275 times.
2005	Amalgamation of 4 Regional Rural Banks of Karnataka to form Karnataka Vikas Grameena Bank with Head Office at Dharwad.
2005	Implementation of Venture Capital Scheme of SMALL FARMERS AGRI-BUSINESS CONSORTIUM (SFAC) Entered into MOU with SFAC for promoting of investments in Agri-business products.
2006	Bank signs MOU with M/s.CMC Ltd., for making Syndicate Institute of Bank Management (SIBM) a center of excellence of global standards and provide quality management education.
2006	500th Branch of SyndicateBank in Karnataka opened at Navnagar, Bagalkot.
2006	2000th Branch of SyndicateBank opened at Tondiarpet, Chennai on 23.03.2006.
2006	Inauguration of SyndBank Services Limited, the 1st BPO outfit of a Nationalised Bank, a wholly owned subsidiary of SyndicateBank & 525th CBS Branch by Hon'ble Union Minister of Finance, Sri P Chidambaram on 24.03.2006 at Bangalore.
2006	2006th Branch of SyndicateBank opened at Gangtok, Sikkim on 27.03.2006
2006	First Branch opened in Arunachal Pradesh at Ita Nagar on 16th October 2006
2006	Branches opened for the first time in 19 additional districts
2007	First Branch opened in Nagaland at Dimapur on 17.03.2007
2007	First Branch opened in Mizoram in Aizawl on 29.03.2007
2007	Branches opened for the first time in 13 additional districts
2008	First Branch opened in Tripura at Agarthala on 11.01.2008
2008	Branch network expanded to all States and UTs except Manipur & Daman Diu
2008	Branches opened for the first time in 6 new districts

Pigmy Deposit Scheme - Bank's Brand Equity

Launched in 1928 by Dr.T.M.A.Pai, one of the Founders to encourage the habit of thrift and small savings. Pigmy Scheme symbolises the description of the Bank as "a small man's big Bank" even today.
Bank collects as low as Rs.5 daily for 72 months at the doorsteps of 10.36 lac depositors through its more than 4000 Pigmy agents.
Pigmy deposits of the Bank crossed Rs.1800 crore.

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

Pioneer In Rural Development

1926	Established in a rural milieu to financially assist handloom weavers
1964	First Bank to venture into agricultural financing when the Banking system considered it risky and unconventional.
1966	Promoted Syndicate Agriculture Foundation - a voluntary organisation of farmers - to disseminate scientific farming techniques.
1967	Agri Card - a ready credit facility for farmers - launched.
1973	Bio Gas finance scheme introduced in collaboration with Khadi and Village Industries Commission to popularise non conventional source of energy. Farm Clinics established.
1974	Syndicate Farmers' Service Society was organised by the Bank in Hiriadka in South Kanara based on the recommendations of the National Commission on Agriculture.
1975	Sponsored the country's first Regional Rural Bank - Prathama Bank opened on 2.10.1975 - in Moradabad in U.P. Bank has so far sponsored 10 such RRBs which are all profit making and act as trend setters in energising the rural economy. After amalgamation there are now 5 Grameena Banks in 5 states, covering 30 districts
1982	Jointly sponsored the first RUDSETI (Rural Development and Self Employment Training Institute) at Ujire in Dakshina Kannada (Karnataka). There are 23 such Institutes in 14 States today providing free entrepreneurship training to unemployed youth. Intensive Rural Development branches established.
1989	Bank adopted Service Area Villages to bring about alround development.
1998	Kisan Credit Card launched
2000	In commemoration of Platinum Jubilee, Syndicate Rural Development Trust established (to mark the Platinum Jubilee of the Bank) for pursuing rural development initiatives with initial corpus of Rs. 50 lacs. Opened 8 Rural Enterpreneurship Development Institutes at Manipal, Kumta, Bellary, Belgaum, Moradabad, Kadapa, Kurnool and Kollam. Scheme for financing Solar Water Heating system Launched.
2001	Syndicate Laghu Udyami Credit Card launched.
2003	SSCC: Synd Swarozgar Credit Card- A new product for financing Small Artisans, Handloom weavers, Fisherman, Service sector, Self employed persons, Rickshaw owners and other Micro entrepreneurs to meet working capital or block capital or both and also consumption needs has been launched.
2004	SKSCC: Syndicate Kissan Samrudhi Credit Card- A new product launched for meeting production and investment credit needs of farmers for agriculture & allied activities and also to meet their consumption requirements.
2005	Scheme for financing Commercial Horticulture Projects under the schemes of National Horticulture Board has been launched to encourage farmers to go in for diversification in agriculture essential for increasing their income level. Scheme for financing SC/STs for rainwater harvesting has been launched.
2006	Syndicate General purpose Credit Card launched. Scheme for financing tenant farmers: Two separate schemes have been launched to provide need based credit to tenant farmers through Joint Liability Group (JLG) approach as well as individual approach.
2007	"SyndSmallCredit"- an innovative scheme with doorstep banking facility to provide need-based credit to entrepreneurs of small means. The product part of financial inclusion, by bringing all eligible entrepreneurs into bank's fold. "Financial Inclusion:" Launched a campaign to achieve 100% financial inclusion. A booklet containing comprehensive guidelines to augment the process of total financial inclusion released. "Water Conservation initiatives:" To promote Water Management and conservation measures among the villagers, Bank started initiatives for clearing and cleaning of village ponds in the selected service area villages.

Social Lending - Concern For The Underprivileged

Priority For Women - Towards Greater Empowerment

Implementation of PM's 15 point programme for welfare of Minorities

The following information is available for viewing regarding credit assistance provided by the Bank to specified minorities

Data on Credit assistance provided to specified minorities for all Districts, 121 identified districts, 338 identified towns of the country and state-wise progress of Minorities credit lending under Priority Sector lending-target-achievement for2009-10 as at 31.03.2010.
Progress Report on parameters of recommendations of Sachar Committee as on 31.03.2010 - Click here

Agricultural Debt Waiver and Debit Relief Scheme,2008 - List of Eligible Borrowers of our Bank - Click here to view the State-wise list

TECHNOLOGY INITIATIVES

1965	Installed first Data Processing machine at the Head Office.
1985	ALPMs introduced
1987	In House Computer at H.O. upgraded to ICIM 6000/40
1991	Established connectivity to SWIFT
1993	First totally computerised branch made operational at Nehru Place Delhi
1995	E-Mail facility introduced at 26 branches
1996	First Telebanking facility introduced at South Block Branch New Delhi
1996	First ATM installed at Gandhi Nagar, Bangalore.
1997	Bank's website launched
1998	Joined Indian Financial Network (INFINET) and VSAT Network
2001	Centralised Banking Solution (CBS) under the brand name "Syndicat-e-banking" launched
2004	Internet Banking launched as one more Delivery Channel for CBS customers
2005	Syndicat-e-banking extended to 245 Branches/Offices as at 31.03.2005 covering 105 centres SyndBillPay Scheme & Excise and Service Tax payments scheme launched through Internet Banking
2006	Syndicat-e-Banking Branches/Offices extended to 529 in 212 centres as at 31.03.2006
2007	CBS Branches/Offices increased to 1508 in 801 centres and covering 91% of Bank's business as at 31.03.2007 101 Branches cut over to CBS on a single day 51 ATMs commissioned on a single day
2008	CBS Branches/Offices increased to 1829 in 1033 centres. The business under CBS rose to over 95% as at 31.03.2008. SMS Banking launched during January 2008

Awards Won By The Bank Over The Years

1972	INDIAN MERCHANTS' CHAMBER AWARD for outstanding contributions towards welfare of community
1974	INDIAN MERCHANTS CHAMBER AWARD for outstanding contribution in promotion of savings
1975	FICCI AWARD For outstanding achievements in agriculture
1975	LAGHU UDYOG SAHAKARI AWARD by the national alliance of young entrepreneurs for bank's significant contributions to the development of small scale industries and assistance to the young entreprenueurs through self employment clinics
1975	INTERNATIONAL AWARD by JAYCEE INTERNATIONAL for self employment
1975	FICCI AWARD in recognition of corporate initiative in industrial relations
1975	CERTIFICATE OF MERIT for Bank's house journal "GIANT"
1976	INTERNATIONAL AWARD by JAYCEE international for outstanding contribution to the cause of the JAYCEE movement
1977	ASSOCHAM AWARD for promotion of rural and agricultural activities of Syndicate Agriculture Foundation sponsored by the bank
1978	INDIAN MERCHANTS CHAMBER AWARD for outstanding contribution towards welfare of the community
1978	NATIONAL TROPHY For outstanding export performance
1981	NATIONAL INVESTMENT AND FINANCE AWARD for Priority Sector lending.
1990	CHAUDHARI CHARAN SINGH MEMORIAL NATIONAL AWARD for Rural Development
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
2006	Best Core Banking Project Award for Large Banks in 2006 awarded by The Asian Banker
2009	“Best Performer” award by NABARD for ‘Highest Average Loan Size’ under SHG -Bank linkage programme among commercial banks operating in Karnataka.

Disclaimer: The contents of this website are purely for information dissemination.It does not constitute any solicitation of business.

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