Syndicate Bank was established in 1925 in Udupi, Karnataka by three visionaries to provide financial assistance to local weavers. It began operating with a capital of Rs. 8000 and collected small daily savings from customers through agents. Over 80 years it has grown into a large public sector bank with over 25,000 employees, operating nationwide with a focus on rural and semi-urban areas. It provides a range of personal, agricultural and commercial loans as well as savings accounts and has implemented a Centralized Banking Solution across its branches.

1. 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 UpendraPai, a businessman, Sri VamanKudva, 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 mobilizing 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 grass root 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 centers 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 programs to promote customer delight in every sphere of its

2. activity. The Bank has launched an ambitious technology plan called Centralized
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.
Public Sector Bank
The bank, along with 13 major commercial banks of India, was
nationalized on 19 July 1969, by the Government of India.
Key people ShriSudhir Kumar Jain (Chairman& MD)
Traded as
BSE: 532276 (Bombay Stock Exchange)
NSE: SYNDIBANK (National Stock Exchange of India)
Employees: 25,569 (2010)
Revenue
Increase
INR 11000 crore (US$1.9 billion) (2010)

3. Chairman & Managing Director
ShriSudhir Kumar Jain has assumed charge as
Chairman & Managing Director of SyndicateBank on
July 8, 2013. Prior to assuming charge as Chairman &
Managing Director, he was Executive Director of Bank
of Baroda. Shri Jain is a graduate in Commerce and a
qualified Chartered Accountant.
Executive Directors
Shri Ravi Chatterjee
Sri Ravi Chatterjee has been appointed as Executive
Director of Syndicate Bank from 01.09.2010. Prior to
taking over as Executive Director of the Bank, Sri Ravi
Chatterjee served in UCO Bank for over three decades.
He joined UCO Bank on 07.03.1977 and served in
various capacities in different places like Uttar Pradesh,
Andhra Pradesh, Ahmedabad, Kolkata and Singapore.
While serving in Kolkata during different periods.
Shri M Anjaneya Prasad
Sri M Anjaneya Prasad has been appointed as
Executive Director of Syndicate Bank from 24.08.2011.
Prior to taking over as Executive Director of the
Syndicate Bank, Sri M Anjaneya Prasad served in
Andhra Bank for over three decades. He joined Andhra
Bank in the year 1978 & started his career as
Management Trainee. He worked as Executive
Secretary to Chairman and Managing Director and
Board Secretary and also held various assignments

5. Facilities Offered
Our Bank offers a number of varied products under Deposits, Advances
to suit the needs of all types of customers.
Details of products are available in each category under this head. We
offer other services for our customers like Cash Management Services,
RTGS, and NEFT for electronic fund transfer and speed clearing.
We also have various delivery channels like ATM, Internet Banking,
SMS Banking offering specialized products and services at
our branches which have been 100% brought under Centralized
Banking Solution.
NRI Services
We offer the following bank accounts to you.
Non-resident (External) Rupee Accounts (NRE A/cs.) - For Interest
Rates Click NRE A/c
Non-resident (Ordinary) Rupee Accounts (NRO A/cs.)
Foreign Currency Non-resident Accounts (FCNR(B) A/cs) -- For
Interest Rates Click FCNR (B)
Resident Foreign Currency Account (RFC A/cs.) -- For Interest
Rates Click RFC (S

6. Types of Accounts
Savings Bank Account
Current Account
SyndSamanya Savings Bank Account
CATEGORY Rural/ Semi-Urban Urban/ Metropolitan
Savings Account
With Cheque Book Rs.500/- Rs.500/-
Without Cheque Book Rs.100/- Rs.250/-
For Pensioners Rs.5/- Rs.5/-
Current Account
Individuals Rs.1,000/- Rs.2,000/-
Others Rs.2,000/- Rs.3,000/-

7. The Minimum Average balance for SB/CA at CBS Branches is as
under.
Type of Account Rural/Semi-
Urban/Urban Centres
Metropolitan
Centres
Current Rs.5,000/- Rs.10,000/-
SB General Rs.1000/- Rs.2000/-
SB Pension Rs.250/- Rs.250/-
SB Staff Rs.250/- Rs.250/-
SB Students Rs.250/- Rs.250/-
SB of persons who draw their salary
through such account
Rs.500/- Rs.500/-
Pigmy Agents Rs.500/- Rs.500/-
Penalty for non-maintenance of
minimum average balance in CA
Rs.100/- pm Rs.100/- pm
Penalty for non-maintenance of
minimum average balance in SB
Rs.30/- pm Rs.30/- pm

8. Syndicate Bank
Parent Company Government of India
Category Banking services
Sector Banking and finance
Tagline/ Slogan Faithful Friendly
USP Strong commitment to social welfare
STP
Segment Urban and Rural banking
Target Group All age and earning groups
Positioning Complete Banking solutions
SWOT Analysis
Strength
1. Financial products for rural sector
2. Innovative schemes for agriculture sector
3. Emphasis on I. T support
4. Has employee strength of over 25,000
employees
5. Syndicate Bank has achieved a rare feat
of opening one million customer accounts in
a span of 3 months
Weakness 1. Less penetration in the country

9. 2. Low branding and advertising as
compared to other banks
3. Lack of retail banking and low customer
service as compared to bigger banks in India
Opportunity
1. Small scale business banking
2. International banking
Threats
1. Economic crisis
2. Highly competitive environment
3. Stringent Banking Norms
Competition
Competitors
1. Indian bank
2. Corporation Bank
3. Dena bank
4. Allahabad Bank
5. Central Bank

10. Loans
Personal Loans
SyndSaral, SyndSenior, SyndRent, SyndVahan,
SyndSuvidha, SyndVyapar, SyndSwarna, SyndPigmy,
SyndLaghuUdhyami, SyndKisan, SyndNivas, SyndNivas Plus,
SyndVidya, SyndVidyarthi, SyndPravasi,
SyndMahila, SyndMortgage, SyndiUdyog
Agricultural Loan
Synd Jai Kisan Loan Scheme, Jewel Loan Scheme for Agriculture,
Syndicate Farm House Scheme, Farm Mechanisation Schemes, Finance
for Hi-tech Agriculture, Development of Irrigation Infrastructure, Syndicate
2/3/4 Wheelers Scheme, Animal Husbandry Scheme, Rural Employment
Generation Programme, Syndicate Kisan Credit Card, Solar Water Heating
Systems
Priority Sector Loans
Scheme for Financing Rural Tourism, SyndSwarojgar Credit Card
Scheme, Syndicate KisanSamrudhi Credit Card Scheme, Syndicate
General Credit Card Scheme, Synd Solar Jyothi Scheme,
GrameenBhandaranYojana

11. Interest Rates on Saving Bank Account
Type of Account
Rate of Interest (in %)
Normal Senior Citizen
Domestic Account
With cheque book facility 4 4
Without cheque book facility 4 4
Period of Deposit /
Tenors
Rates of Interest
(% p.a.)
(07.08.2013)
Less than Rs 1 Crore Rs 1 Crore& Above
7 days to 14 days 7.10 7.10
15 days to 30 days 7.10 7.10
31 days to 45 days 7.10 7.10
46 days to 60 days 7.10 7.10
61 days to 90 days 7.10 7.10
91 days to 120 days 7.10 7.10
121 days to 179 days 7.50 7.50
180 days to 269 days 8.00 8.00
270 days to 363 days 9.00 9.00
364 days 9.00 9.00
1 year exact 9.00 9.00
Above 1 yr up to 2 yrs 8.50 8.25
Above 2 yrs up to 5 yrs 8.00 8.25
Above 5 yrs up to 10 yrs 8.00 8.25

12. USP of Syndicate Bank
Other value added services offered by the
Syndicate Bank in India are the
Cash Management Services
Gift Cheques
ATM
Telebanking
Internet Banking
Any Branch Banking
Multi City Accounts
Synd Bill Pay
On-Line Collection of Direct Taxes
On-line Railway Ticket Booking
Western Union Money Transfer
SyndInstant and Electronic Funds Transfer (EFT) System

13. Products
 Finance and insurance
 Consumer Banking
 Corporate Banking
 Investment Banking
 Investment Management
 Private Equity
 Mortgages
 Credit Cards