Syndicate Bank was one of the oldest and major commercial banks of India. It was founded by Upendra Ananth Pai, T. M. A. Pai and Vaman Srinivas 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. It was headquartered in the university town of Manipal, India. On 1 April 2020, the bank was merged into Canara Bank. On 3 August 2014, the CMD of the bank, Sudhir Kumar Jain, and 11 others were arrested by the Central Bureau of Investigation (CBI). Jain was accused of taking bribes to extend the credit limits of companies. More information...
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