A recent press report said that Syndicate Bank has entered into a memorandum of understanding (MoU) with Tata Motors for financing commercial vehicles. The MoU was signed by Mr. U. Ganesh Kamath, General Manager (MSME), on behalf of Syndicate Bank and Mr. K. Sanjay Mishra, Regional Manager (South), on behalf of Tata Motors.
Syndicate Bank was established in the year1925. The progress of Syndicate Bank has been synonymous with the phase of progressive banking in India. Spanning over 80 years of pioneering expertise, the Bank has created for itself a solid customer base comprising customers of two or three generations.
The bank started its business with a capital of Rs. 8000. Its first branch had started its operations in the year 1928 at Brahmavar in Dakshin Kannada District. By 1937, it had secured its membership as a clearing house at Mumbai. The primary objective of the business was to extend the financial assistance to local weavers. The bank now offers a variety of loans including home loan, personal loan, education loan, vehicle loan, consumer durables etc.