Brief History

Established on 20th October, 1925 by three great visionaries viz. Dr. T.M.A. Pai, Mr. Upendra Ananth Pai and Mr. V.S. Kudva of Dakshina Kannada District of Karnataka State, which has a unique distinction of producing many great Banks and Bankers. The business of the Bank commenced on 10th November, 1925 in a small room in the temple town of Udupi with only one employee. The Bank was then called "Canara Industrial and Banking Syndicate Ltd". The authorised capital of the Bank was Rs.1,00,000/- and the paid-up capital was only Rs.8,000/-.

The success story of Syndicate Bank (name changed in 1964) is a story of a great institution which could build itself from small beginnings to its present stature, mainly through the concept of SERVICE TO THE COMMON MAN inspired by the dynamic and enlightened leadership provided by stalwarts like Dr. T.M.A. Pai and Mr. T.A. Pai. The Bank adopted progressive policies and innovative pro grammes under their leadership and thus became a harbinger of a model banking policy suitable not only to India, but also to all other developing countries.

The progress of Syndicate Bank has been synonymous with the phase of progressive banking in India. Spanning seven decades of pioneering expertise, the Bank has created for itself a solid customer base comprising 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 ethoes. It has never been a conduit to syphon off the resources from rural backward areas, to strengthen the urban region. 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 of the small people and poor regions.

The Bank is one of the foremost banks in the Foreign Exchange Market with special emphasis on services to Non-Resident Indians aimed at speed and efficiency in handling their remittances. The Bank is eminently placed to cater to the requirements of the Non- resident Indians on professional basis with a personal touch. The Bank has an excellent record of serving NRI population at United Kingdom through London Branch and at Qatar and Sultanate of Oman through the Exchange Companies managed by the Bank viz. Al Shaibei Exchange Co. WLL in Qatar and Musandam Exchange with its branches at Ruwi, Seeb, Sohar and Nizwa in Oman.

We did this before anybody thought of

2. First Bank to open All Womens' Branch at Bangalore in 1962 which created a sensation in financial world, and proved to be a great success.

3. Started Social Banking and Priority Sector Lending much before it became a Government of India Policy.

4. Sponsored the First Regional Rural Bank appropriately called "Prathama Bank" in 1975.

5. First Bank from South India to open a Branch in London (1976).

6. Took up management of Al Shaibei Exchange Co. WLL in Doha and Musandam Exchange in Oman in 1983 and 1984 respectively.