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Syndicate Bank
Syndicate Bank was one of the oldest major commercial banks in 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. History 1925 1974 Syndicate Bank was founded in 1925 in Manipal, Udupi, Madras Presidency, British India. The promoters came from a lower-middle-class background and aimed to improve the socioeconomic status of the region. It was the only Indian bank with its headquarters in a rural area. The bank provided employment opportunities to the educated members of the local community. It had an initial paid-up capital of . It was unlike other banks which primarily financed trade and industries in urban a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Company
A public company is a company whose ownership is organized via shares of share capital, stock which are intended to be freely traded on a stock exchange or in over-the-counter (finance), over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (listing (finance), listed company), which facilitates the trade of shares, or not (unlisted public company). In some jurisdictions, public companies over a certain size must be listed on an exchange. In most cases, public companies are ''private'' enterprises in the ''private'' sector, and "public" emphasizes their reporting and trading on the public markets. Public companies are formed within the legal systems of particular states and so have associations and formal designations, which are distinct and separate in the polity in which they reside. In the United States, for example, a public company is usually a type of corporation, though a corporation need not be a public company. In the United Kin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Uttar Pradesh
Uttar Pradesh ( ; UP) is a States and union territories of India, state in North India, northern India. With over 241 million inhabitants, it is the List of states and union territories of India by population, most populated state in India as well as the List of first-level administrative divisions by population, most populous country subdivision in the world – more populous than List of countries and dependencies by population, all but four other countries outside of India (China, United States, Indonesia, and Pakistan) – and accounting for 16.5 percent of the population of India or around 3 percent of the total world population. The state is bordered by Rajasthan to the west, Haryana, Himachal Pradesh and Delhi to the northwest, Uttarakhand and Nepal to the north, Bihar to the east, Madhya Pradesh, Chhattisgarh and Jharkhand to the south. It is the List of states of India by area, fourth-largest Indian state by area covering , accounting for 7.3 percent of the total ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Moradabad
Moradabad () is an industrial city, commissionerate, and municipal corporation in Moradabad district of the Indian state of Uttar Pradesh. It is situated on the banks of the Ramganga river, at a distance of from the national capital, New Delhi and 356 km north-west of the state capital, Lucknow. Based on the 2011 census of India, 2011 census, it is 10th most populous city in the state and 54th most populous city in the country. It is one of the largest cities in the Western Uttar Pradesh, Western UP region, serving as a crucial hub for employment, education, industry, culture, and administration. The city is popularly known as ''Pital Nagri'' ("Brass City") for its famous brass handicrafts, which are exported across the world. In the last few decades it has started emerging as a hub for working in other metals also, including aluminium, steel, and iron. In October 2014, leading financial daily Mint (newspaper), Livemint included Moradabad in its list of "25 emerging citi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking In India
Modern banking in India originated in the mid of 18th century. Among the first banks were the Bank of Hindustan, which was established in 1770 and liquidated in 1829–32; and the General Bank of India, established in 1786 but failed in 1791. The largest and the oldest bank which is still in existence is the State Bank of India (SBI). It originated and started working as the Bank of Calcutta in mid-June 1806. In 1809, it was renamed as the Bank of Bengal. This was one of the three banks founded by a presidency government, the other two were the Bank of Bombay in 1840 and the Bank of Madras in 1843. The three banks were merged in 1921 to form the Imperial Bank of India, which upon India's independence, became the State Bank of India in 1955. For many years, the presidency banks had acted as quasi-central banks, as did their successors, until the Reserve Bank of India was established in 1935, under the Reserve Bank of India Act, 1934. In 1960, the State Banks of India ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reserve Bank Of India
Reserve Bank of India, abbreviated as RBI, is the central bank of the Republic of India, and regulatory body responsible for regulation of the Indian banking system and Indian rupee, Indian currency. Owned by the Ministry of Finance (India), Ministry of Finance, Government of India, Government of the Republic of India, it is responsible for the control, issue, and maintenance of the supply of the Indian rupee. It also manages the country's main payment systems and works to promote its economic development. The RBI, along with the Indian Banks' Association, established the National Payments Corporation of India to promote and regulate the payment and settlement systems in India. Bharatiya Reserve Bank Note Mudran, Bharatiya Reserve Bank Note Mudran (BRBNM) is a specialised division of RBI through which it prints and mints Indian currency notes (INR) in two of its currency printing presses located in Mysore (Karnataka; Southern India) and Salboni (West Bengal; Eastern India). Depos ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pigmy Deposit Scheme
Pigmy Deposit Scheme is a monetary deposit scheme introduced by Syndicate Bank, India in 1928. Initially, money as small as two anaas (an anna is a monetary unit of India, equal to one sixteenth of a rupee) can be deposited into an account on a daily basis in the pigmy deposit scheme in 1928. https://www.ndtv.com/business/stock/syndicate-bank_syndibank/reports Money in amounts as small as five rupees can be deposited into an account on a daily basis, by a bank agent collecting the money from the account holder's doorstep. The scheme was introduced to help daily wage earners, small traders and farmers begin saving, as a means to fund their bigger capital requirement A capital requirement (also known as regulatory capital, capital adequacy or capital base) is the amount of capital a bank or other financial institution has to have as required by its financial regulator. This is usually expressed as a capital ...s such as weddings or purchases of homes or vehicles. References ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World Bank
The World Bank is an international financial institution that provides loans and Grant (money), grants to the governments of Least developed countries, low- and Developing country, middle-income countries for the purposes of economic development. The World Bank is the collective name for the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA), two of five international organizations owned by the World Bank Group. It was established along with the International Monetary Fund at the 1944 Bretton Woods Conference. After a slow start, its first loan was to France in 1947. In its early years, it primarily focused on rebuilding Europe. Over time, it focused on providing loans to developing world countries. In the 1970s, the World Bank re-conceptualized its mission of facilitating development as being oriented around poverty reduction. For the last 30 years, it has included NGOs and environmental groups in its loan portfolio. Its ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Small And Medium Enterprise
Small and medium-sized enterprises (SMEs) or small and medium-sized businesses (SMBs) are businesses whose personnel and revenue numbers fall below certain limits. The abbreviation "SME" is used by many national agencies and international organizations such as the World Bank, the OECD, European Union, the United Nations, and the World Trade Organization (WTO). In any given national economy, SMEs outnumber large companies by a wide margin and also employ many more people. On a global scale, SMEs make up 90% of all companies and more than 50% of all employment. For example, in the EU, 99% of all businesses are SMEs. Australian SMEs makeup 98% of all Australian businesses, produce one-third of the total GDP (gross domestic product) and employ 4.7 million people. In Chile, in the commercial year 2014, 98.5% of the firms were classified as SMEs. In Tunisia, the self-employed workers alone account for about 28% of the total non-farm employment, and firms with fewer than 100 employees acc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
British India
The provinces of India, earlier presidencies of British India and still earlier, presidency towns, were the administrative divisions of British governance in South Asia. Collectively, they have been called British India. In one form or another, they existed between 1612 and 1947, conventionally divided into three historical periods: *Between 1612 and 1757, the East India Company set up "factories" (trading posts) in several locations, mostly in coastal India, with the consent of the Mughal emperors, Maratha Empire or local rulers. Its rivals were the merchant trading companies of Portugal, Denmark, the Netherlands, and France. By the mid-18th century three ''Presidency towns'': Madras, Bombay and Calcutta, had grown in size. *During the period of Company rule in India, 1757–1858, the Company gradually acquired sovereignty over large parts of India, now called "Presidencies". However, it also increasingly came under British government oversight, in effect sharing sovereig ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Madras Presidency
The Madras Presidency or Madras Province, officially called the Presidency of Fort St. George until 1937, was an administrative subdivision (province) of British India and later the Dominion of India. At its greatest extent, the presidency included most of southern India, including all of present-day Andhra Pradesh, almost all of Tamil Nadu and parts of Kerala, Karnataka, Odisha and Telangana in the modern day. The city of Madras was the winter capital of the presidency and Ooty (Udagamandalam) was the summer capital. The Madras State was neighboured by the Kingdom of Mysore to the northwest, the Kingdom of Cochin and Kingdom of Travancore to the southwest, the Kingdom of Pudukkottai in the center, and the Hyderabad State to the north. Some parts of the presidency were also flanked by Bombay State ( Konkan Districts) and Central States (modern Madhya Pradesh). In 1639, the English East India Company purchased the village of Madraspatnam and one year later it establis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
