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SYNDICATE BANK

  • What is BIC ?

    The BIC or Bank symbol Code (also referred to as the SWIFT address) is a unique address that in payment messages identifies exactly the bank concerned in monetary transactions. once employed in conjunction with the IBAN it identifies the bank at that the account of the beneficiary is command.

  • What is RTN ?

    Bank routing number or routing transit number (RTN) is a nine digit number used to identify a financial institution in a transaction. Internation banks Routing Code, Bank Identifier Code (BIC) & SWIFT codes are basically the same.

  • What is Bank BSR Code

    Basic Statistical Return (BSR) Income Tax Department's initiative to receive information and maintain records of tax paid through banks through online upload of challan details is named as OLTAS (Online Tax Accounting System).

IFSC Code of SYNDICATE BANK MAHARASHTRA Branch is SYNB0005222

IFSC Code  SYNB0005222
Bank :  SYNDICATE BANK
Branch :  Kharghar Sector 35
Address :  SHOP NO 1 TO 3,MANOMAY CHS LTD.NEAR METRO STATION NO 9,KHARGHAR SECTOR 35 D,NAVI MUMBAI MAHARASHTRA INDIA -400703
Contact :  28744232
District :  GREATER BOMBAY
State :  MAHARASHTRA

SYNDICATE BANK List of IFSC Code Branches in MAHARASHTRA District

Andheri EAndheri West Mumbai
BandraBorivli East Mumbai
Borivli MumbaiByculla
Cao MumbaiCentral Railway Matunga Mumbai
ChemburCms Mumbai
ColabaCrawford Market
Cufe Parade MumbaiDana Bunder Mumbai
DindoshiGhatkopar
Girgaum MumbaiGoregaon
Homji St MumbaiIfb Mum Bai
Inh AshwiniJogeshwari Mumbai
Kalbadevi MumbaiKandivli
Kharghar Sector 35Kurla W
Lamington Road MumbaiMahim Mumbai
Malabar Hill MumbaiMalad East
Marine LinesMarol Mumbai
Matunga Main MumbaiMid Corporate Branch Mumbai
Mid Corporate Branch Mumbai IiMulund
Mumbai Bhandup WestMumbai Chembur Subhas Nagar
Mumbai DahisarMumbai Fort
Mumbai International Business BrancMumbai Khar
Mumbai KolivadaMumbai Mandvi
Mumbai Matunga BazarMumbai Nariman Point
Mumbai Naval Dock YardNerul
Pali HillPeddar Rd
Prabha Devi MumbaiSantacruz
Santacruz West MumbaiStressed Asset Management Mumbai
Sunder NagarTardeo Mumbai
Vile Parle MumbaiVile Parle West Mumbai
Worli Sea Face Mumbai

Syndicate Bank was established in 1925 in the princely state of Manipal, Udupi, Mysore. It was founded by Upendra Anant Pai, T.M.A. Pai and Vamana Srinivas Kudva. Syndicate Bank was one of the oldest and major commercial banks in India. At the time of its inception, the bank was known as Canara Industrial & Banking Syndicate Limited. It is a wholly owned subsidiary of Canara Bank. The bank was nationalized by the Government of India on 19 July 1969 along with 13 major commercial banks of India. The headquarter of the bank was in the city of Manipal University, India. On 1 April 2020, the bank was merged with Canara Bank.

The promoters came from a lower-middle class background and aimed to improve the socioeconomic status of the area. It was the only Indian bank headquartered in rural areas. The bank provided employment opportunities to the educated members of the local community. Its initial paid-up capital was ₹8,000. This was in contrast to other banks that financed trade and industries mainly in urban areas. Hence as a new bank, Syndicate Bank decided to take advantage of the untapped small and medium enterprise and agriculture sector.

In 1928, Syndicate Bank launched the pygmy deposit scheme. Under this scheme, banking agents visit the doorsteps of farmers and shopkeepers at stipulated intervals to collect the deposits. By 1960, 21% of the bank’s net deposits came from pygmy deposits. Its unconventional practices were criticized by the Reserve Bank of India (RBI).

In 1969, it was nationalized along with 13 other major banks. In December 1969, it had 350 branches, by December 1974, it had 700 branches.

In 1975, it established India’s first Regional Rural Bank (RRB), Pratham Bank in Moradabad, Uttar Pradesh.] In 1976, Syndicate Bank sponsored the establishment of Malaprabha Gramin Bank in Dharwad, Karnataka. In 1983, Bijapur Gramin Bank was sponsored by Syndicate Bank, which is headquartered in Bijapur. In 1984, it also established Netravathi Gramin Bank in Mangalore and Varada Gramin Bank in Kumta. As of December 1986, it had 1456 branches.

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  • What is MICR Code?

    The Magnetic Ink Character Recognition Code (MICR) is a numeric code that uniquely identifies a Bank-Branch participating in the ECS Credit scheme. MICR code consists of 9 digits e.g 500447125

    • First 3 digits represent the city (500447125)
    • Next 3 digits represent the bank (500447125)
    • Last 3 digits represent the branch (500447125)

    The MICR Code assigned to a bank branch is written on the MICR band of cheque leaves issued by bank branches.

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