The Hindu : Business : Syndicate Bank opens NRI cell

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Thursday, Nov 29, 2007
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Syndicate Bank opens NRI cell

Staff Reporter

Online loan application facility available

KOCHI: The Ernakulam Region of Syndicate Bank has opened an NRI cell for non-resident Indian customers.

The bank has made arrangements for online remittance from NRIs in the Gulf countries in association with a few exchange companies, according to G. Ramanathan, Deputy General Manager.

The remitted amount would reach the bank account in India instantly and the charges would be less when compared to several exchange services, he said at a press conference.

The bank had introduced online loan application facility for some of its loan schemes like education loans, SME loans and housing loans. The facility has received good response from customers.

The bank has plans to go in for a follow on public issue to shore up its equity capital base.

The bank had launched Synd Sona, a scheme for selling gold coins to the public. The gold coins in assorted size and assured quality are available from designated branches of the bank. Sindjaikisan, an investment credit scheme for agriculturists has also been launched.

The Ernakulam region consists of districts of Ernakulam, Thrissur, Palakkad, Kozhikode, Malappuram and Idukki and the Union Territory of Lakshadweep.

The region has a total business of Rs.1,857 crores with deposits constituting Rs.989 crores and advances coming to Rs.868 crores. The region has introduced Core Banking Solution in 36 branches.

The bank is planning to open branches at Aluva, Muvattupuzha, Kottakkal and Chittoor (Palakkad).

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