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Syndicate Bank IFSC Code and MICR Code:

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Syndicate Bank IFSC Code

About Syndicate Bank

Syndicate Bank was established 1925 at Udupi, in the state of Karanataka, in India. It was initially named as Canara Industrial and Banking Syndicate Limited. Its founders are Upendra Ananth Pai and T M A Pai Vaman Kudva. Its head quarter is located in Manipal, in the state of Karnataka, in South India. The key people associated with this particular bank are Shri Arun Shrivastava who holds the position of Managing Director and CEO, Shri T K Srivastava who holds the position of Executive Director and Shri Ravi Shanker Pandey who holds the position of Executive Director. In the open market, it comes with the slogan as “Viswasaneeya Hitheshi” in Sanskrit language and Faithful and Friendly in English language.


The products that are exclusive dealt by Syndicate Bank are

• Finance and insurance
• Consumer Banking
• Corporate Banking
• Investment Banking
• Investment Management
• Private Equity
• Mortgages
• Credit Cards


This Bank comes with Customer base of over 32 million as per the official report released in 2013–14. The number of employees of this bank is 27222. In the open market, this bank has 3682 Domestic Branches, 682 Metro Branches, 783 Urban Branches, 936 Semiurban branches, 1150 Rural Branches and one overseas branches. It has nearly 3427 ATMs for its esteemed customers.


IFSC code for Syndicate Bank

It is to be noted that Syndicate Bank IFSC code can be used by both the Real Time Gross Settlement finance transfer systems and National Electronic Fund Transfer. Reserve Bank of India has provided Syndicate Bank, its NEFT, RTGS and IMPS codes. NEFT transactions are settled in a successful manner in batches while RTGS transactions are perfectly settled individually. On the other hand, IMPS largely presents an instant 24X7, electronic fund transfer. It is to be keenly observed that IFSC Code is an 11 character code for just identifying bank branches largely participating in online fund transfers. This particular code is unique for each and every branch. The bankers should note that not all branches of a bank provide facility of net banking.


How to find Syndicate Bank IFSC Codes?

• The table alongside provides the Syndicate Bank IFSC code list.
• One can use this IFSC code finder to find IFSC Code for Syndicate Bank for NEFT or RTGS or IMPS codes before using them.
• You can find IFSC codes for Syndicate Bank branches in India.
• Narrow down your search for IFSC Codes either by selecting any particular state from the drop down list or by selecting the state in the table on the right side.
• Search Syndicate Bank IFSC Codes!


Syndicate Bank Ltd MICR Code

Syndicate Bank Magnetic Ink Character Recognition (MICR) code contains numerical values only; it comes with nine digit code. It is printed usually on cheque leaves. It is largely MICR Code is used for processing cheques easily. Syndicate Bank has NEFT supported branches; most of these Syndicate Bank branches have MICR Code number.


How to Search Syndicate Bank MICR code?

• First select your bank
• Select the State
• Now select your district
• Finally select the branch of your bank to find MICR Code.
• If you need to change any search list term, please use Up Arrow Icons.


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Syndicate Bank IFSC Code News:

Modern products are being introduced by Syndicate Bank


Brand new product or service has been introduced in the market by the Syndicate Bank. These products will simply transactions of the consumers. MD & CEO of the Syndicate Bank, Arun Shrivastava introduced transferring of fund through “Aadhaar card Number” based on National Unified USSD Platform, with the help of an simple cell phone that too without any internet service. Transferring of fund based on IMPS from any branch outlet for quick and instant credit to all of the bank accounts service is also introduced by this bank.

2016/08/10 12:56 AM

Recruitment in banks through Institute of banking personnel selection is a total a failure


According to the Syndicate Bank Staff Association the recruitments that have taken place through the IBPS or the Institute of banking personnel selection has been a total failure. which has in turn created regional bias. The Vice President of the Association Mr. KS Bhat also said that another major problem that these selections have created has been of attrition. The selection process has been delayed which has caused a shortage in staff which in turn has caused the problem of addressing the customers in a timely fashion Monitoring advances has also become a problem.

According to Mr. Bhat the solution lies in campus recruitment or revival of banking service recruitment board. He also urged the Union Govt. to hold a discussion with the various trade unions to find a permanent solution to the crisis situation.

Low morale of the staff

The morale of the staff is low because of unconventional HR policies , unreasonable  transfers  and deployment of existing staff. The regional offices are whimsically elevating part time employees, as well as regularizing temporary employees. He concluded with saying that the employees are in a disarray, and almost every staff member is overworked due to shortage of staff.

2016/07/20 05:32 AM

Syndicate Bank raises Rs930 Cr by issue of Basel III compliant bonds


The bank said in a regulatory filing that with respect to invitation pertaining to series III the bank has decided to retain the total amount of Rs. 930 Crore and allotted on a proportionate basis and the bank has decided to exercise the green shoe option. The Syndicate Bank has invited bids for issue size of Rs 500 crore along with a shoe option of Rs 430 Crore thus limiting the aggregate issue size to Rs, 930 Crore. The issue came to a close on July 14. As compared to its previous close on BSE the shares of Syndicate Bank were last seen trading at Rs. 80.75 per share.

2016/07/19 03:46 AM

Syndicate bank revises base rate and MCLR


Syndicate bank revised the MCLR or the marginal cost of funds base lending rate  It has come into effect from July 11. The old and new MCLR for an overnight period, a one month period, a period of three months, a period of six months and a period of one year is given below:

Period Existing  MCLR Revised MCLR
Overnight 9.5 % 9.4 %
One month 9.55 % 9.45 %
Three months 9.55 % 9.45 %
Six months 9.60 % 9.50 %
One year 9.65 % 9.55%

 

Consequent upon the revision in MCLR the base rate and the benchmark prime lending rate has also been changed. with effect from July 11 2016.

The old and new base rate and benchmark prime lending rates are as follows

Base Rate

Existing Revised
9.7 % 9.6 %

 

BPLR (Benchmark Prime Lending rate)

Existing Revised
13.95 % 13.85 %

 

2016/07/14 08:57 AM

Syndicate Bank revises base rate and MCLR


The marginal cost of funds based lending rate or MCLR is the figure issued by the RBI below which the banks cannot lend money. The new rate has come into exist from July 11 ,2016 The figure now stands at 9.55 %

Besides the changes made in the one year tenure changes have also been made for the following tenures:

  • Six months: 9.5 %
  • Three months: 9.45 %
  • One month: 9.45 %
  • Overnight : 9.40 %

Consequent to the changes made in MCLR the base rate has also been changed to 9.6 %. The benchmark prime lending rate has also been subsequently changed to 13.85 %.

The Syndicate bank closed at 77.55

BSE and NSE combined together saw a total trading of 4716306 shares.

The face value of the share is Rs. 10 The share belongs to BSE group A.

The 52 week high and low was Rs 107 and Rs 49.4 respectively. The last one week high and low was of Rs 81.5 and Rs 72.5 respectively.

The holding of the promoters was of 69.32 % and the institutional and non institutional holding  was 19.02 % and 11.66 % respectively.

2016/07/14 07:37 AM

Retail loan carnival conducted by Syndicate Bank


A new loan carnival in retail sector was organized by the Syndicate Bank to distribute the loan approval letters to the eligible beneficiaries concealed by the Regional Office at Salem on the Wednesday.

The Regional Manager,Salem,  Mr RR Shiva Guru said that as a part of the retain loan carnival retail loans to the tune of 11 Cr belonging to 605 persons. This includes gold,house and vehicle loans.

Mr Shiva also said that the bank would aggressively focus on MSME loans and has sanctioned 420 MSME loans to the tune  of Rs 11.77 Cr

The bank spokesperson also said that they  issued the five standup India loans. On the Wednesday the loan carnival made sure that sanction letters were distributed to 100 beneficiaries.

Among those who were present at the carnival were General Manager retail business  Mr K Manjunath and Senior Regional Manager,Chennai Mr CBL Narasimha  Rao.

2016/07/01 10:03 PM

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