Syndicate Bank PO - SPLessons

Syndicate Bank Introduction

Chapter 1

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Syndicate Bank Introduction

Syndicate Bank Introduction

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Syndicate Bank, established in 1925 was started with a capital of Rs.8000/ by 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. Syndicate Bank was first established in Udupi, the abode of Lord Krishna in coastal Karnataka. The bank was primarily established 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 (1 anna = 1/16 rupee) daily under its Pigmy Deposit Scheme started in 1928. However, today, the Pigmy Deposit scheme is the bank’s brand equity today and the bank collects around Rs. 2 crore per day under the scheme.


shape Branches

Syndicate Bank has eight Zonal Offices (ZO) for administration and business purpose. The ZOs are in Bangalore, Chennai, Delhi, Hyderabad, Kolkata, Lucknow, Mumbai, and Manipal.

The Bank has 60 Regional Offices (RO) that ensure smooth functioning and control business operations in the various regions of the country. The regional offices are headed by an AGM, DGM cadre.

SyndicateBank has a strong presence across India. The bank has 3952 Brick and Mortar Branches including an overseas Branch in London, 12 extension counters, and 37 satellite offices as of July 2017.


shape Progress

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.


shape Awards

Awards won by the bank over the years

Year’s Awards
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.
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.
The Bank was adjudged ‘Best Performer’ among commercial
banks operating in Karnataka by NABARD for its performance under
the category of ‘Highest Average Loan Size’ in relation to the SHG-Bank
linkage programme.
2007 Sri C.P.Swarnkar, Chairman & Managing Director
received ‘Best Banker’ award from Dehali Kannadige Patrike,
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
2003 Banking Technology Award conferred on SyndicateBank
by IDRBT, Hyderabad for 2003
2001 Banking Technology Award for innovative use of
Banking Applications on INFINET awarded by IDRBT, Hyderabad



Syndicate Bank – Related Information
Syndicate Bank – Official Website
Syndicate Bank – Career Opportunities