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Study of Organisational Structure Syndicate Bank

Study of Organisational Structure Syndicate Bank

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Published by: anuragmsrcasc on Nov 14, 2009
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07/27/2014

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Syndicate Bank ______________________________________________________________ 
CHAP 1INTRODUCTION
 
1.1 Industry Profile1.2 Company Profile1.3 Product Profile
 ______________________________________________________________ 1
 
Syndicate Bank ______________________________________________________________ 
1.1
 
INDUSTRY PROFILE
Commercial banks in India have traditionally focused on meeting the short-term financial needs of industry, trade and agriculture. At present, there are286 scheduled commercial banks in the country, with a network of 67,742branches. Scheduled commercial banks are the ones that are listed in thesecond schedule to the RBI Act, and may further be classified as publicsector banks, private sector banks and foreign banks Scheduled commercialbanks have a presence throughout India, with nearly 69.72% of bankbranches located in rural or semi-urban areas of the country. A large number of these branches belong to the public sector banks.Public sector banks make up the largest category of banks in the Indianbanking system. There are 27 public sector banks in India. They include theSBI and its associate banks and 19 nationalized banks. Nationalized banksare governed by the Banking Companies (Acquisition and Transfer of Undertakings) Act 1970 and 1980. The banks nationalized under the BankingCompanies (Acquisition and Transfer of Undertakings) Act 1970 and 1980 arereferred to as ‘corresponding new banks’. Syndicate Bank is a correspondingnew bank, nationalized in 1969 under the Bank Acquisition Act.Public sector banks operate in the remotest possible areas of the countryand give employment opportunity to one and all. Contrary to their privatesector counterparts, technological up gradation is still in infancy in publicsector banks. The most astonishing feature of the public sector banks is thatmany employees are not computer literate and the personnel’s average ageis 40+. These banks are also subject to limited government interference. But ______________________________________________________________ 2
 
Syndicate Bank ______________________________________________________________ the last decade has seen many positive developments in the Indian bankingsector. These banks have established an outstanding track record of innovation, growth and value creation. While bank lending has been asignificant driver of GDP growth and employment, periodic instances of the“failureof some weak banks have often threatened the stability of thesystem. But nonetheless, the banking sector is the fastest growing and themost flourishing sector in the Indian economy. The major players in thissector are private and public sector banks.Though the banking sector is going through a rough patch nowadays, still thissector contributes the most to the world GDP. These banks should strive topenetrate the untapped areas of the market to overshadow the downwardtrend in this sector. ______________________________________________________________ 3

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