What is syndicate bank?

Syndicate Bank was one of the oldest and major commercial banks in India. It was founded in 1925 in Udupi, Karnataka.

• Founding: The bank was established with the aim of providing financial assistance to local weavers and small-scale entrepreneurs.
• Nationalization: Syndicate Bank was nationalized by the Indian government in 1969.
• Merger: In 2020, Syndicate Bank was merged with Canara Bank. Following the merger, Syndicate Bank ceased to exist as a separate entity. Its branches and customers were integrated into Canara Bank.
• Headquarters: Formerly, the headquarters of Syndicate Bank were located in Manipal, Karnataka.
• Services: Prior to its merger, the bank offered a range of banking products and services, including deposit%20accounts, loans, insurance, and investment%20products.