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Syndicate Bank branch at Lighthouse Hill Road in Mangalore Syndicate Bank was founded in 1925 in Manipal , Udupi , Madras Presidency , British India . The promoters came from a lower-middle-class background and aimed to improve the socioeconomic status of the region.
Amalgamation of Gramin Bank of Aryavart and Allahabad UP Gramin Bank in Aryavart Bank on 1 April 2019. Amalgamation of Prathama Bank and Sarva UP Gramin Bank in Prathama UP Gramin Bank on 1 April 2019. Amalgamation of Purvanchal Bank, Kashi Gomti Samyut Gramin Bank and Baroda UP Gramin Bank in Baroda UP Bank on 1 April 2020. [6]
However, RRBs also have urban branches. The Government of India enacted the Regional Rural Banks Act in 1976, which led to the establishment of the first five RRBs on 2 October 1975. The first RRB was Prathama Bank, which was sponsored by Syndicate Bank and had its headquarters in Moradabad, Uttar Pradesh.
In the fiscal year 2005-06, Canara Bank became India's second-largest public sector bank in terms of advances and deposits. The bank changed its name to Canara Bank Limited in 1910 when it incorporated. [5] In 2002-03, the bank went in for its Initial Public Offer and raised Rs.110 crores. [2] The India government holds a 73% stake in Canara Bank.
Sarva UP Gramin Bank; The creation of Prathama UP Gramin Bank took place under Sub-Section (1) of Section 23A of the Regional Rural Bank Act, 1976 (21 of 1976). [2] The bank has 950 branches around 19 districts of Uttar Pradesh; it will also have one branch in Haridwar District of Uttarakhand. [3] The bank is sponsored by the Punjab National Bank.
With T. M. A. Pai and Upendra Ananth Pai of Manipal, Kudva was one of the founder directors of the Syndicate Bank, then called the Canara Industrial and Banking Syndicate Ltd. In 1948 he was elected President of Kanara Chamber of Commerce and Industries , South Kanara and continued as president for the next 3 years. [ 5 ]