Syndicate Bank, state-driven one of the oldest and the commercial banks established in India. This bank was founded by three business tycoons T M APai, UpendraPai and VamanKudva. In the beginning, the bank was known by the name of Canara Industrial and Banking Syndicate Limited. This bank was then nationalised by the Government of India on the auspicious date of 19 July in the year 1969. Its Headquarter base in Manipal, Karnataka is active 24×7.
Recently, this bank was in news for opening 1million customer accounts in just a time period of 3 months.
In the year 2009, Mr Vasant Golecha Jain was appointed CMD of this Bank for a period of 3 years.
This bank became the highlight of the day when the news spread across the country that the bank has sponsored a regional rural bank called Karnataka VikasGrameena Bank based in Karnataka.
On the Banks’ 88th foundation day, 5 new products namely SyndDoctor, SyndGranite, SyndTextiles, SyndCashew, and SyndTransport were introduced. Not only this, the same day 88 new branches were opened.
Praises and Accolades
- Syndicate Bank was praised with the award of the “Best Bank”in a RSETI movement driven by Sir Jairam Ramesh, the Honorable Minister responsible for Rural Development.
- Then the bank received an award for excelling in the Banking sector in the year 2013where it was recognised as the second best public sector Bank by the State forum of Bankers Club, Kerala.
- The bank praises and an accolade doesn’t stop here. This Bank was crowned with the Record-Breaking Performance in SyndLIC Saptah held 2-7 December in the year 2013 by Life Insurance Corporation of India
- In order to expand its customer base and popularity, the bank continually keeps upgrading itself and its services.
- Opening more branches overseas is one of the steps to embark its presence on the International scale.
According to Mr Sudhir Kumar Jain, CMD of Syndicate Bank, this bank is planning to open more overseas branches in addition to increasing its presence in this Country.
This is an official step and Syndicate Bank would soon be contacting RBI for this in order to get permission to start operations in countries abroad like Abu Dhabi, South Africa, China, Thailand, and Hong Kong.
The bank already has its potential base in some of the 5 major southern states and now the plans are being made to expand its horizon to other countries as well. This would include introducing bank branches, ATM services, and much more.
No doubt, if the number of bank branches increases, there are high chances of job openings as well. An estimated 2,700 clerical and 2,300 officers vacancies would be posted in the running year, as per the latest reports collected by the reporters.
This is a great opportunity for the bank and for the job seekers as well. The chances of getting a bank job are higher now if you are thinking of becoming a part of this ever-growing bank. So, Bankers get ready to face the new challenges.