Introduction
Catholic Syrian Bank Limited is a private organization owned bank with its headquarters located in the Thrissur district of nature gifted state of Kerala, India. It is one amongst the ancient banks that were started in India. The bank was founded on the 26th day of November month in the year 1920, very well before the Indian Independence, and it was opened for corporate purpose on the following New Year's Day. The bank has nearly 353 office branches all over the country presentlyThe beginning of Indian Financial transactions is related to a great extent with the Swadeshi Movement that stirred many Indians to encourage Swadeshi Banks in the start of the 20th Century. The inventive forefathers of the Catholic Syrian Bank Ltd correspondingly found this period to be an instant of opportunity to endorse the formation of a bank. Thus was launched The Catholic Syrian Bank Ltd, Nine decades ago, on the 26th day of November month in the year 1920 to be precisely at Thrissur, which in later years attained the unique peculiarity of being a center with the peak concentration of banks in the Southern region of India.
The forefather directors of the bank were individuals of reputation known for their forethought, truthfulness and creativity. The strategy they laid down has been steadily upheld by the succeeding generations who showed the destiny of the organization. The bank began trade on January 1st in the year 1921 with an approved capital of Rs. 5 lakhs and a funded up capital of Rs. 45270/-
Throughout the main two decades of its running, the Bank focused only in Kerala. Banks and various acclaimed institutions which multiplied especially in Kerala received a surprise and many of them emanated to their doom ensuing the crash of the Travancore National Quilon Bank in the year 1938 shadowed by Palai Central Bank in the year 1960. During the era many minor banks came to the brink of downfall pulsated the confidence of the people and what charted was a procedure of alliance.
The approach of mergers and unions of minor banks with superior banks carried the number of banks inside its manageable limits, thereby building the industry's base tough. From the year 1964 to 1965, The Catholic Syrian Bank Ltd participated in captivating the obligations and assets of five minor / average sized banks in the state of Kerala. The development program introduced throughout these years gained high momentum in the following years.
In the month of August in the year 1969, the Bank was involved in the Second Schedule to the Reserve Bank of India Act 1934. In the year 1975, the Bank achieved the status of "A" Class in the Scheduled Bank category when its whole credits crossed over Rs. 25 crores. The requirement of instructing training to staff saw very significant and a modest start was hence, made in establishing a Training College in the year 1975.
In that same year 1975 the bank entered the arena of foreign Exchange. At an actual initial stage, the Bank recognized mechanization as a very effective instrument of organization and modernized its accounting measures by overview of data processing system. From the month of November in the year 1975, the understanding of inter branch accounts was mechanized by using the IBM Data handling machines.
The Catholic Syrian Bank Ltd never lagged behind in winning the challenge and nearly more than 75% of its business belongs to minor and economically weaker part of the society. The Bank has a solid rural base with about 80% of the office branches in rural areas and semi urban areas.
Funds in money market and investment market tools are being prolonged and the necessary steps are being engaged to have an in stock parity research wing so as to face the trials of future. The Bank has also fastened up its technology to upsurge its market share of business finance in the future days to come. The actual inner power of a rising organization lies in its man power. The Bank has been exceptionally privileged all these years in making an environment in which the staff at all levels can play their part.
Their influence to the development of the organization has been priceless. The Bank has a very lively active team on its Board of Directors who is managing the fortune of the Bank leading to development and richness. At present the bank has a large wide network of nearly 431 office branches and 233 ATMs throughout India. The Bank also has ideas to start greater number of office branches in a slow manner.
Website www.csb.co.in
Contact details:Email: [email protected]