PRESENTED BY

NAVANEETHAKRISHNAN
SELVAMUNIYANDI
PRIYADHARSHINI
RAVIKUMAR
 INTRODUCTION:
As time progressed, twenty banks merged with the Canara Industrial
and Banking Syndicate Limited including the Maharashtra Apex Bank
Limited and Southern India Apex Bank Limited. The name of the
bank was changed to Syndicate Bank Limited in 1964 and the head
office of the bank was shifted to Manipal. The bank expanded its
operations not only on the domestic front but also overseas.

On 30 August 2019, Finance Minister Nirmala Sitharaman announced

that Syndicate Bank would be merged with Canara Bank. The
proposed merger would create the fourth largest public sector bank in
the country with assets of ₹15.20 lakh crore (US$220 billion) and
10,324 branches.[2][3] The Board of Directors of Canara Bank
approved the merger on 13th September 2019.
 Syndicate Bank is one of the oldest and major
commercial banks of India. It was founded by T M A Pai,
Upendra Pai and Vaman Kudva. At the time of its
establishment, the bank was known as Canara Industrial
and Banking Syndicate Limited. The bank, along with 13
major commercial banks of India, was nationalised on 19
July 1969, by the Government of India. The Bank has
headquarter in the university town of Manipal, India. On
August 30, 2019, the Government of India announced the
bank would be merged into Canara Bank. The merger is
most likely come into effect at the beginning of the next
financial year starting on April 2020.
 Syndicate Bank is one of the oldest and major
commercial banks of India. It was founded by T M A Pai,
Upendra Pai and Vaman Kudva. At the time of its
establishment, the bank was known as Canara Industrial
and Banking Syndicate Limited. The bank, along with 13
major commercial banks of India, was nationalised on 19
July 1969, by the Government of India. The Bank has
headquarter in the university town of Manipal, India. On
August 30, 2019, the Government of India announced the
bank would be merged into Canara Bank. The merger is
most likely come into effect at the beginning of the next
financial year starting on April 2020.
 Industry: Banking, Financial Services
 Founded:1925 (94 years ago)
(as Canara Industrial and Banking Syndicate Limited)
 Headquarters: Manipal, Udupi, Karnataka
 Key people: Ajay Vipin Nanavati
(Chairman) ,Mrutyunjay Mahapatra
(MD & CEO)
 Products : Finance and insurance
Consumer Banking
Corporate Banking
Investment Banking
Investment Management
Private Equity
Mortgages
Credit Cards
 Number of employees: 35000 (March 2019)
 Branches: 4063
 The dog in the logo is in sync with syndicate bank’s
motto-’Faithful and Friendly’.
 Orange color indicates the bank’s vibrancy,competency
and confidence to reach the next horizon of business.
 Yellow color indicates innovation,backing the vibrancy
and quick decisions through collective work and thinking.
 Tagline:Faithful,Friendly
SAVINGS BANK ACCOUNT
 These accounts are designed to help the individuals (personal
customers) to inculcate the habit of saving money and to meet
their future requirement of money. Amounts can be
deposited/withdrawn from these accounts by way of cheques /
withdrawal slips. It helps the customers to keep minimum cash
at home besides earning interest.
 These accounts can be opened by eligible person/s and certain
organisations / agencies (as approved by the Reserve Bank of
India (RBI)
SAVINGS BANK ACCOUNT
 As required by law, while opening SB account, the Bank
will satisfy itself about the identity including verification of
address, of a person/s seeking to open an account, to
assist in protecting the prospective customer/s, members
of the public and ourselves against fraud and other
misuses of the banking system.

 The Bank is required to obtain two recent photographs of

the person/s opening the account, as per RBI directives.
SAVINGS BANK ACCOUNT
 The Bank is required to obtain Permanent Account Number
(PAN) or General Index Register (GIR) Number or
alternatively obtain declaration in Form No. 60 or 61 as per
the Income Tax Act (vide Section 139 A) from the person/s
opening the account.
 The Bank will provide to the prospective customers details of
the documents required for identification of the person/s
opening the account. Officially ValidDocuments normally
accepted are the Aadhar Card/Job card issued by NREGA
signed by State government officials/ telephone / electricity bill
or voter's identity card or driving licence or passport etc.
 For opening the account FATCA declaration must be
obtained.
SAVINGS BANK ACCOUNT
DOCUMENTS:
Aadhar card
Pan or form 60
Id proof
Passport size photograph
Valid license
For joint account:
Individual Photo ,Pan, Aadhar
For minor account:
If natural guardian and mother is not
there,provide details of guardian who appointed by court.
SAVINGS BANK ACCOUNT
 Individual or join account
 Interest rate 3.25%

 Interest rate was calculated by daily basis

 Low interest account

 Become inoperative where no transaction is done for last

2 years
CURRENT ACCOUNT
 Current Accounts can be opened by individuals,
partnership firms, private and public limited companies,
HUFs/specified associates, societies, trusts, etc.
 As required by law, while opening this account, the Bank
will satisfy itself about the identity, including verification of
address, of a person/s seeking to open an account, to
assist in protecting the prospective customer/s, members
of the public and ourselves against fraud and other
misuses of the banking system.
 The Bank is required to obtain two recent photographs of
the person/s opening / operating the account, as per R B I
directives.
CURRENT ACCOUNT
 The Bank is required to obtain Permanent Account Number
(PAN) or General Index Register (GIR) Number or alternatively
obtain declaration in Form No.60 or 61 as per the Income Tax
Act (vide Section 139 A) from the person/s opening the account
(i.e. including partners of Registered / Unregistered partnership
as also Registered / Incorporated bodies / companies).
 The Bank will provide the prospective customers details of the
documents required for identification of the person/s opening
the account Documents normally accepted are the current gas /
telephone / electricity bill or voter's identity card, Aadhar Card
or driving licence or passport etc.
 Minimum balance as stipulated from time to time will be
required to be maintained.
 No interest is paid on credit balances kept in current account
CURRENT ACCOUNT
 Applicable service charges are levied for Ledger folio used,
Cheque books issued, Non-maintenance of minimum balance,
Return of cheques etc.
 For opening special types of current accounts like for
Executors, Administrators, Trustees, Liquidators etc., the
Branch Manager may be contacted who will help in opening
these types of accounts.
 As per RBI directive, the applicant (i.e. account opener)
should declare in the account opening form or separately that
he is not enjoying any credit facility with any Bank and if he
does enjoy any facility / facilities, he should declare full
particulars thereof indicating the name of the bank and name
of the branch wherefrom he has availed these facilities.
 For opening the Account FATCA declaration must be
obtained.
NRI ACCOUNT

Non-Resident External Rupee Account – NRE

Non-Resident Ordinary Rupee Account – NRO

Residence Foreign Currency Account – RFC

Foreign Currency Non Resident Accounts - FCNR (B)

NON-RESIDENT EXTERNAL RUPEE ACCOUNT – NRE

 These accounts are designed to help the

individual NRIs/PIOs for placing their savings
meant for meeting uncertain exigencies or as
investment in Term deposits.
 Accounts can be either as savings bank account,
current account, cumulative deposits, and Term
deposits (Cash certificates or Fixed deposits). The
funds are repatriable along with interest
DOCUMENTS

 Accounts can be opened by submitting duly filled in

account opening form, (which is available on our website)
 2 passport photographs,

 copy of passport with VISA stamping (KYC purpose)

along with the foreign remittance and attestation by the
Indian Embassy.
NON-RESIDENT ORDINARY RUPEE ACCOUNT – NRO
 Rupee accounts other than accounts opened under Special
schemes like Non-Resident (External) Account scheme with
Authorized Dealers in India by persons, firms and other
organizations outside India are called Non-Resident (Ordinary)
Accounts (NRO Accounts). However, unless specifically
stated, these instructions do not cover accounts of foreign
nationals.
 Any person resident outside India (other than a person
resident in Nepal and Bhutan) is eligible to open NRO account
subject to compliance of following conditions.

 Individuals/entities of Pakistan nationality/ownership require

prior approval of RBI for opening the accounts.
RESIDENCE FOREIGN CURRENCY ACCOUNT –RFC

 The scheme was introduced by RBI in September 1992.

NRIs who have been residing outside India for a
continuous period of not less than one year and have
become residents in India on or after 18.04.1992 can
open and maintain RFC accounts.
 RFC accounts can be opened by direct inward
remittance, cheques, drafts, travellers cheques,
conversion of existing NRE/FCNR (B) accounts.
 RFC accounts can be accepted and maintained in any
permissible currency. Presently Bank is accepting
USD, GBP, EUR, CAD and AUD denominated accounts
only
FOREIGN CURRENCY NON RESIDENT ACCOUNTS -
FCNR (B)

 These accounts can be opened by NRIs/PIOs out of

foreign remittances or proceeds of NRE accounts.

 The designated currencies are US Dollars (USD), Great

Britain pounds (GBP), Euro, Canadian Dollar (CAD) and
Australian Dollar (AUD). These deposits are in the form
of Term deposits (Fixed or Reinvestment).
 FCNR (B) deposits are accepted for a period of 1 year to
5 years in USD, GBP, Euro, CAD and AUD currencies.
 Loan permitted against these deposits on terms similar to
loans against NRE term deposits.
FIXED DEPOSIT
 A regular interest earning scheme. A flexible and convenient deposit
scheme which ensures that your money never remains idle. Even
very small amounts earn interest for very short periods. Yes, You can
deposit an amount of just Rs.1000/- for a period as short as 07 days
and make it grow.
 Salient features of the scheme are:
 Minimum deposit Rs.1000/-.
 Deposits accepted for periods ranging from 07 days to 120 months.

 Option available for receiving monthly interest at discounted rates or

quarterly interest.

 Premature withdrawal of deposit is permitted any time subject to

payment of prescribed penalty.
FIXED DEPOSIT
 Loans available upto a maximum of 95% of the deposit amount
depending on the length of the unexpired period of the deposit.

 Senior Citizens & Staff will be eligible for additional Rate of

interest as per applicable norms.

 Nomination facility available.

 The rates of interest on deposits are as fixed by the Bank from

time to time.

 Facility of automatic renewal is available.

RECURRING DEPOSIT

 An ideal scheme of monthly savings for salaried people,

businessmen, professionals etc. Small amounts saved every
month for a long period come in handy to meet large financial
commitments in the future.

 Salient features of the scheme are:

 Minimum deposit is Rs.100/-per month.

 Period of deposit ranges from 12 months to 10 years.

RECURRING DEPOSIT
 Delayed payment of instalments are accepted with nominal penalty.

 Monthly minimum balance in the account earns compound interest every

quarter.

 Tax is deducted at source from interest on the deposit as per extant

guidelines.

 Loans up to maximum of 95% of the deposit amount available depending

on the length of the unexpired period of the deposit.

 Nomination facility available.

 The rates of interest are as fixed by the Bank from time to time.
THANK YOU