 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. The Bank is pioneer among Public Sector Banks on
launching CBS. Our bank has already achieved CBS implementation among
all its branches. Thus, the bank is 100% CBS enabled.
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