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Syndicate bank is one of the oldest and the major commercial banks of India. When it was established, it was known as Canara Industrial and Banking Syndicate Limited. It was nationalized in 1969. The bank was headquartered in the university town of Manipal, India. On August 30, 2019, the Government of India announced the bank to be merged in the Canara Bank. From the fiscal year April 2020, the merger will come into effect. The primary motive of the bank, when started in 1925, was to extend financial assistance to the local weavers. With time some 20 banks merged with the Canara Industrial and Banking Syndicate Limited. The merger will make the bank the fourth-largest public sector bank of the country. In the year 1964, the name of the bank was changed to Syndicate Bank Limited. It has 4000 branches in the different cities of the country that offer core banking e-banking services.
Nationalized Bank
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