South Indian Bank RBI - 2018-2019 StudyChaCha

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  #1  
Old April 10th, 2016, 05:51 PM
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Default South Indian Bank RBI

Hello sir, I am Raj Pillai. I am form Kerala. I want to know when the South Indian Bank did get the license to be a Scheduled bank by Reserve Bank of India. Can you give me some details about it?
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  #2  
Old April 11th, 2016, 09:28 AM
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Default Re: South Indian Bank RBI

South Indian Bank got the licence, to be a scheduled bank, under section 22 of the Banking Regulation Act 1949 from Reserve Bank of India (RBI) on 17th June 1957.

SIB was the first scheduled Bank in the private sector in Kerala
South Indian Bank Limited (SIB) is a type of private sector bank.
It was formed in the year 1929.
It offers following products:
Loans,
Savings
Investment vehicles,
Insurance

It is headquartered at Thrissur City in Kerala, India
South Indian Bank has 831 branches, 4 service branches,33 ext.counters and 20 regional offices spread across more than 26 states and 3 union territories in India.
It has set up 1269 ATMs and 4 Bulk Note Acceptor/Cash Deposit Machines all over India.
Milestones

First among the private sector banks in Kerala to become a scheduled bank in 1946
First bank in the private sector in India to open a Currency Chest in April 1992
First private sector bank to open a NRI branch in November 1992
First bank in the private sector to start an Industrial Finance Branch in March 1993
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