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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

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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. First branch of the Bank opened at Brahmavar in Dakshina Kannada District Bank became a member of the Clearing House for the first time at Bombay. 29 branches opened in a single day in rural areas. 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. 100th branch opened at Ilkal in Karnataka Entered Foreign Exchange business by opening Foreign Exchange Department at Bombay. 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. Economic Research Department set up. One of the first few Banks to emphasise on research in Banking even before nationalisation. 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 First Staff Training College started at Head Office First specialised branch in Foreign Exchange opened at Delhi. Opened a branch at Lakshadweep islands First overseas branch opened at London on 17.8.76. Took up management of Al Shabei Finance and Exchange Co. in Doha Took up management of Musandam Exchange Co. in Muscat 1000th branch opened at Delhi Hauz Khas 1500th branch opened at Kanakumbi First Specialised Industrial Finance Branch opened at Mumbai. First Specialised Housing Finance Branch opened at Mangalore Bank raised Capital of Rs.125 Crore in Oct.1999 from more than 4 lakh shareholders First Specialised Capital Market Services branch opened at Mumbai First branch under CBS (Core Banking Solution) started operation at Bangalore. Centralised Banking Solution under the brand name "Syndicate-e-banking" launched at Delhi, Mumbai, Bangalore and Manipal. Bank enters into MOU with Bajaj Allianz for distribution of Life Insurance products. Toll Free Voice Mail System for redressal of grievances introduced. Bank ties up with United India Insurance Co. Ltd. for distribution of Non-Life Insurance products Utility bill payment services through Internet banking introduced. Introduced On-line reservation of Railway Tickets through Indian Railway Catering & Tourism Corporation Ltd. (IRCTC) for Internet banking customers of our Bank. 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. Amalgamation of 4 Regional Rural Banks of Karnataka to form Karnataka Vikas Grameena Bank with Head Office at Dharwad. 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. 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. 500th Branch of SyndicateBank in Karnataka opened at Navnagar, Bagalkot. 2000th Branch of SyndicateBank opened at Tondiarpet, Chennai on 23.03.2006. 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. 2006th Branch of SyndicateBank opened at Gangtok, Sikkim on 27.03.2006 First Branch opened in Arunachal Pradesh at Ita Nagar on 16th October 2006 Branches opened for the first time in 19 additional districts First Branch opened in Nagaland at Dimapur on 17.03.2007 First Branch opened in Mizoram in Aizawl on 29.03.2007 Branches opened for the first time in 13 additional districts First Branch opened in Tripura at Agarthala on 11.01.2008 Branch network expanded to all States and UTs except Manipur & Daman Diu Branches opened for the first time in 6 new districts

Pigmy Deposit Scheme - Bank's Brand Equity

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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.


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Pigmy deposits of the Bank crossed Rs.1800 crore.

Nationalisation - Bank's Catalytic Role

Industrial Finance Department was set up to encourage advances to Small Industries and Entrepreneurs in keeping with the policy of assisting the common man. 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. 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. Established Hi Tech Agriculture Branches

Pioneer In Rural Development

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Established in a rural milieu to financially assist handloom weavers First Bank to venture into agricultural financing when the Banking system considered it risky and unconventional. Promoted Syndicate Agriculture Foundation - a voluntary organisation of farmers - to disseminate scientific farming techniques. Agri Card - a ready credit facility for farmers - launched.

Bio Gas finance scheme introduced in collaboration with Khadi and Village Industries Commission to popularise non conventional source of energy. Farm Clinics established. Syndicate Farmers' Service Society was organised by the Bank in Hiriadka in South Kanara based on the recommendations of the National Commission on Agriculture. 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 198 Jointly sponsored the first RUDSETI (Rural Development and Self Employment Training Institute) at Ujire in Dakshina Kannada 2 (Karnataka). There are 23 such Institutes in 14 States today providing free entrepreneurship training to unemployed youth. Intensive Rural Development branches established. 198 Bank adopted Service Area Villages to bring about alround development. 9 199 Kisan Credit Card launched 8 200 In commemoration of Platinum Jubilee, Syndicate Rural Development Trust established (to mark the Platinum Jubilee of the 0 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. 200 Syndicate Laghu Udyami Credit Card launched. 1 200 SSCC: Synd Swarozgar Credit Card- A new product for financing Small Artisans, Handloom weavers, Fisherman, Service sector, 3 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. 200 SKSCC: Syndicate Kissan Samrudhi Credit Card- A new product launched for meeting production and investment credit needs 4 of farmers for agriculture & allied activities and also to meet their consumption requirements. 200 Scheme for financing Commercial Horticulture Projects under the schemes of National Horticulture Board has been launched 5 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. 200 Syndicate General purpose Credit Card launched. 6 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. 200 "SyndSmallCredit"- an innovative scheme with doorstep banking facility to provide need-based credit to entrepreneurs of 7 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

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Social lending is the Bank's strong point since inception. Priority sector Advances as at March 2009 were Rs.27,364 crore accounting for 46.62 % of the Bank's adjusted net credit as against the mandatory level of 40 %. 17.98 Lakh borrowers assisted under priority sector. SC/ST advances under priority sector are Rs. 1128.13 crore. The total SC/ST advances of the bank are Rs. 1672.95 crore covering 3.05 Lakh customers.

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The Bank has taken various measures through Regional Offices and Lead District Offices for publicizing among minority community about various credit products available for their benefits. The advances to minorities as at 31.03.2009 were Rs.3725.19 crore. Bank has adopted 13,736 Service Area /Operational Area Villages for extending timely credit to meet all genuine credit needs. Credit to the extent of Rs. 10436.19 crore was disbursed to priority sector activities under Annual Action Plan in these villages. The agricultural credit disbursed during the financial year 2008-09 was Rs. 5977.62 crore. 1,45,553 new farmers were brought into Bank's fold through 1179 rural and semi-urban branches up to March 2009 registering an average of 123 New farmers per branch and surpassed the Govt. stipulation of 100 new farmers. Agricultural credit stood at Rs.10,769 crore constituting 18.35% of ANBC. 11.94 Lakh farmers were assisted under agriculture out of which 47.78% were Small and Marginal Farmers. Bank has cumulatively issued 12 Lakh Kisan Credit Cards to the farmers with credit limits of over Rs. 4225 crore of which 5.13 Lakh cards with credit limits of Rs. 2326.74 crore were outstanding as on 31.03.2009. 30,196 new SHGs were credit linked with credit support of Rs.416.58 crore during 2008-09 benefitting 4.48 Lakh families. The Bank has so far credit linked 1,45,792 SHGs with credit exposure of Rs. 1156.62 crore benefiting about 19.96 Lakh families of which, 77,083 accounts amounting to Rs. 699.89 crore were outstanding as at 31.03.2009. Extended education loan to 81,260 students to pursue higher education amounting to Rs.1150.25 crore. Assisted 1.46 Lakh customers under priority sector housing amounting to Rs.7064.56 crore. Advances to weaker section were Rs. 6,218 crore constituting 10.59 % of ANBC as against the mandatory target of 10 %. Bank is actively involved in implementing the schemes for financing Solar Water Heating and Lighting Systems. Bank has financed 3609 Water Heating Systems amounting to Rs. 11.19 crore and 750 Solar lighting systems amounting to Rs.2.09 crore during 2008-09. The cumulative number of Solar Water Heating and Lighting Systems financed by the Bank is 28,970 units with a credit component of Rs. 74.97 crore and 9095 units with a credit component of Rs.15.27 crore respectively.

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As a result of Solar Water Heating and Lighting Systems financed by the Bank, there is grid power saving to the extent of 7.02 crore units p.a. contributing to a peak load saving of 48.56 MW. Bank has launched an innovative scheme "Synd Small Credit" during June 2007 to extend need based credit to the entrepreneurs of small means within built advantageous features viz. door step banking, ballooning repayment and limit for consumption and repayment of high cost private debt. The Bank has disbursed Rs.150.60 crore to 12,805 entrepreneurs under the scheme 2008-09. The cumulative disbursement under the scheme up to 31.03.2009 was Rs. 213 crore to 18,732 entrepreneurs.

In tune with the suggestions made by Vyas Committee to provide hassle free investment credit, the Bank has launched an innovative product during second half of 2006-07. The product "SyndJaiKisan" envisages providing hassle free term credit to meet all farm related investments including contingencies which are unspecified and unforeseen in addition to consumption requirements and repayments are high cost private debts. Bank has disbursed Rs.226.16 crore to 11,316 farmers during he year2008-09. The cumulative disbursement was Rs.1686.83 crore to 76,985 farmers. The outstanding under the scheme as at 31.03.2009 was 69,888 accounts with a credit limit of Rs.1515.21 crore.

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Lending to Small and Medium Enterprises stood at Rs. 6865 crore as against Rs.5419 crore as at 31.03.2008 registering a growth of 26.66 % during 2008-09. Advances to Small and Micro Enterprises stood at Rs. 5692 crore as at 31.03.2009 constituting 82.90 % of SME advances. The disbursement under Special Plan for Agricultural Credit during the year 2008-09 amounted to Rs. 5977 crore recording a growth of 18.83% over previous year. Disbursement underinvestment credit was Rs. 1303 crore during the year 2008-09. The Bank has entered into a tie-up with Tobacco Board, Sugar Mills, Tractor Manufacturing Companies for extending need based credit to farmers. Bank has also entered into an agreement with Emami Bio-Tech Ltd. for financing Jatropha cultivation in 3 regions of Andhra Pradesh. Bank has achieved 100% financial inclusion in 25 lead districts in 5 states and 1 UT for extending all types of banking services. Bank has also achieved 100% financial inclusion in 6695 service area villages through rural and semi-urban branches. 34.56 Lakh no-frill accounts were opened and 10,314 Syndicate General Credit Cards (SGCCS) issued with credit outlay of Rs. 22.69 crore as on 31.03.2009. Action Plan for implementation of 2nd and 3rd phases of financial inclusion, what is now called "Financial Deepening" has ben prepared and is launched in Lead district of Bagalkot. Action Plan for development of UT of Lakshadweep through credit deployment has been prepared. Bank and the sponsored RRBs have set up "Financial Literacy-cum-Counseling Centres" in 8 centres viz. Bijapur and Chikodi in Karnataka, Kadapa in Andhra Pradesh, Rewari in Haryana, JP Nagar, Moradabad & Rampur in UP and Kannur in Kerala State. A Bio-metric ATM has been set up by our bank at our Terdal Branch in Bagalkot district, Karnataka - a 100% financially included district on pilot basis. "Branchless Banking" /Smart Card Project through Business Correspondents is taken up on pilot basis in our lead

district of Bellary in Karnataka, Anantapur and Kurnool districts in Andhra Pradesh in collaboration with respective State Govts. for payment of wages under NREGP/SSP. The Smart Card Project / Branchless Banking scheme is being implemented under the brand name "SyndShakti" . It is proposed to extend the project to other parts of the country and also to other products and services of the bank.

Bank has been in the forefront in promoting adoption of new technology in the field of agriculture, enabling farmers to improve productivity/production. 668 Rural Extension Education Programmes benefiting 95,358 farmers / villagers were organized during 2008-09.

The Bank and also the sponsored RRBs put together have completed the task of cleaning and clearing 637 Village ponds / tanks as at 31.03.2009.

Priority For Women - Towards Greater Empowerment

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Women have occupied pride of place in the Bank in employment as well as in credit dispensation. Bank pioneered the concept of "All Women Branch". The first such branch at Seshadripuram in Bangalore was opened as early as 1962. 21.50 % of credit outstanding under Govt. Sponsored Anti Poverty Schemes benefit women. Out of 1,45,792 Self Help Groups with credit assistance amounting Rs. 1156.62 crore, 1,23,814 are women groups with a credit assistance of Rs. 1063.58 crore. Women groups constitute 84.93 % in terms of number and 91.96 % in terms of amount. Out of total 2.72 Lakh unemployed youth trained for taking up self-employment ventures at Syndicate Institute of Rural Entrepreneurship Development (SIRD) and Rural Development and Self Employment Training Institutes (RUDSETIs) sponsored by the Bank, 1.05 Lakh were women candidates constituting 38.67%.

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
lending-performance for 3rd quarter of 2009-10

Districts, 121 identified

districts, 338 identified towns of the country and State-wise progress of Minorities credit lending under Priority Sector

as on 31.12.2009.
Districts, 121 identified

Data on Credit assistance provided to specified minorities for all
lending-performance for 2nd quarter of 2009-10

districts, 338 identified towns of the country and State-wise progress of Minorities credit lending under Priority Sector

as on 30.09.2009.

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Progress Report on parameters of recommendations of Sachar Committee as on 30.09.2009 - Click here Data on Credit assistance provided to specified minorities for all
lending-performance for the 1st quarter of 2009-10 Districts, 121 identified districts, 338 identified towns of the country and state-wise progress of Minorities credit lending under Priority Sector

as on 30.06.2009.

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Progress Report on parameters of recommendations of Sachar Committee as on 30.06.2009 - Click here Data on Credit assistance provided to specified minorities for all
lending-target-achievement for2008-09 Districts, 121 identified districts, 338 identified towns of the country and state-wise progress of Minorities credit lending under Priority Sector

as at 31.03.2009.

Progress Report on parameters of recommendations of Sachar Committee as on 31.03.2009 - 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

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INDIAN MERCHANTS' CHAMBER AWARD for outstanding contributions towards welfare of community INDIAN MERCHANTS CHAMBER AWARD for outstanding contribution in promotion of savings FICCI AWARD For outstanding achievements in agriculture 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 INTERNATIONAL AWARD by JAYCEE INTERNATIONAL for self employment FICCI AWARD in recognition of corporate initiative in industrial relations CERTIFICATE OF MERIT for Bank's house journal "GIANT" INTERNATIONAL AWARD by JAYCEE international for outstanding contribution to the cause of the JAYCEE movement ASSOCHAM AWARD for promotion of rural and agricultural activities of Syndicate Agriculture Foundation sponsored by the bank INDIAN MERCHANTS CHAMBER AWARD for outstanding contribution towards welfare of the community NATIONAL TROPHY For outstanding export performance NATIONAL INVESTMENT AND FINANCE AWARD for Priority Sector lending. CHAUDHARI CHARAN SINGH MEMORIAL NATIONAL AWARD for Rural Development FICCI AWARD for institutional initiative in the field of "Rural Development" to RUDSETI jointly sponsored by Syndicate Bank Banking Technology Award for innovative use of Banking Applications on INFINET awarded by IDRBT, Hyderabad Banking Technology Award conferred on SyndicateBank by IDRBT, Hyderabad for 2003 "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

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