Memorable Milestones in a 82-year journey:
SyndBank Services (BPO)
The Bank has floated “SyndBank Services Limited (BPO)” as a wholly owned subsidiary of SyndicateBank. This BPO Company undertakes the following activities:
Facilitating customers to file their Income Tax Returns,
Undertaking Back Office functions relating to Bank’s Debit / Credit Card /
Bancassurance Business.
Undertaking Credit Rating of Bank’s borrowers and managing Back Office
functions relating to Government Business Transactions and issuance of Interest
/ Dividend Warrants.
Follow-up of overdue accounts under retail loans by sending Notices/SMS
messages and telecalling the customers to maintain a healthy retail credit
portfolio of parent Bank
Providing guidance and maintenance of records for PF, Pension and Gratuity
Trust.
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 |
| 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, |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 1970 | |
| 1971 | First specialised branch in Foreign Exchange opened at |
| 1972 | Opened a branch at |
| 1976 | First overseas branch opened at |
| 1983 | Took up management of Al Shabei Finance and Exchange Co. in |
| 1984 | Took up management of Musandam Exchange Co. in |
| 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 |
| 2002 | Centralised Banking Solution under the brand name "Syndicate-e-banking" launched at |
| 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 |
| 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 |
| 2007 | Global Business Crossed Rs.1,60,400 Crores |
| 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 |
| 2008 | 2200 Bank branches including 2000 CBS Branches. |
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.
Nationalization - 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 |
| 1975 | Sponsored the country's first Regional Rural Bank - Prathama Bank opened on 2.10.1975 - in |
| 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, |
| 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. |
| 2006 | Syndicate General purpose Credit Card launched. |
| 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. |
Syndicate Bank contact number.
ReplyDelete9144453296