Syndicate Bank is one of the major public sector banks incorporated in India. The Bank provides a range of financial products and services to the retail customers, including housing loans, retail trade loans, vehicle loans, consumer loans, education loans, mortgage loans and investment loans. They also offer other services, such as TeleBanking, short messaging service banking and data warehousing.The Bank delivers their products and services through their extensive branch network, extension counters, ATMs, phone banking and the Internet. As on 31 March 2018, the banks branch network (including London Branch) stood at 3552. These include 1116 branches in under banked Districts and 924 branches in minority concentration Districts. The Total number of ATMs installed upto 31 March 2018 stood at 3427.Syndicate Bank was established in the year 1925 in Udupi, Karnataka by Upendra Ananth Pai, T M A Pai and Varman Kuduva. The business of the Bank was commenced on November 10, 1925 with the name Canara Industrial and Banking Syndicate Ltd. In the year 1928, the Bank opened their first branch at Brahmavar in Dakshina Kannada. In the year 1946, they opened 29 branches in a single day in rural areas.In the year 1953, the Bank took over the assets and liabilities of two Local Banks, namely Maharashtra Apex Bank Ltd and Southern India Apex Bank Ltd. In the year 1957, they opened their 100th branch at Ilkal in Karnataka. In the year 1962, the Bank entered into foreign exchange business by opening Foreign Exchange Department at Mumbai.In the year 1963, the name of the Bank was changed from Canara Industrial & Banking Syndicate Ltd to Syndicate Bank. In the year 1966, the Bank set up economic research department and in the year 1967, they launched Agri Card, a ready credit facility for farmers. The Bank was nationalized on July 19 1969. The Bank opened Indias first Regional Rural Bank, namely Prathama Bank at Moradabad in Uttar Pradesh on October 2, 1975. In the year 1976, they opened their first overseas branch at London.The Bank was instrumental in the establishment of Rural Development and Self Employment Institutes in 1982, providing vocational training to unemployed youth and the beneficiaries of poverty alleviation programmes for setting up self-employment ventures. During the year 1983-84, the Bank took up the management of Al Shabei Finance and Exchange Co in Doha and Musandam Exchange Co in Muscat. They opened their 1000th branch at Delhi Hauz Khas in the year 1984 and 1500th at Kanakumbi in the year 1989.In the year 1998, Syndicate Bank Kisan Credit Card was launched and in the year 1999, they made an initial public offer, raising capital of Rs 1,250 million. In the year 2000, the Bank opened first Specialized Capital Market Services branch at Mumbai. During the year 2000-01, they opened 52 new outlets, which includes 16 branches and 36 extension counters. In that, 16 extension counters were upgraded into full-fledged branches. Also, Syndicate Laghu Udyami Credit Card was launched during the year.In the year 2002, the Bank launched centralized banking solution under the brand name Syndicat-e-banking at Mumbai, Delhi, Bangalore and Manipal. In the year 2003, they entered into MoU with Bajaj Allianz for distribution of Life Insurance products and for the distribution of Non-Life Insurance products; they made a tie up with United India Insurance Co Ltd in the year 2004.During the year 2004-05, the Bank entered into MoU with Small Farmers Agri Business Consortium for promoting of investments in Agri-business products. They introduced Online railway ticket booking facility through their website for the convenience of their Internet banking customers. They opened 27 new branches and upgraded 5 extension counters during the year. They also opened 25 extension counters during the period.During the year 2005-06, the Bank opened 207 branches, of which 143 were by the upgradation of extension counters. They also opened 7 extension counters and one Central Accounts Office during the year. In December 30, 2005, the Bank signed MoU with Small & Medium Enterprises Rating Agency of India Ltd, thus creating a platform for banks SME clients to get them rated and gain concession in interest rates. They opened their 2000th branch at Tondiarpet in Chennai. During the year 2006-07, the Bank inaugurated SyndBank Services Ltd, a wholly owned subsidiary of the Bank, which is in the business of BPO. They opened 120 branches during the year, which includes one specialized SME branch at Kurnool and the upgradation of 71 Extension counter. They opened their first branch at Itanagar in Arunachal Pradesh, Dimapur in Nagaland and Aizawl in Mizoram during the year. During the year, the Bank has launched SyndVidyarthi, a unique product for students of 18 years and above pursuing professional courses, with in-built provision for line of credit upto Rs 10,000. Also, they implemented National Electronic Funds Transfer, which replaced Special Electronics Funds Transfer and Electronic Funds Transfer.During the year 2007-08, the Bank opened 46 branches, which includes 1 Asset Recovery Management Branch at Kolkata. In January 2008, the Bank opened first branch at Agarthala in Tripura. During the year, the Bank marked their entry into 14 districts for the first time. As at March 31, 2008, the Bank has branches in all States and Union Territories except the State of Manipur and Daman & Diu.In February 2008, the Bank signed a memorandum of understanding under corporate agency tie up arrangement with Export Credit Guarantee Corporation of India Ltd for marketing their various export insurance products through their designated branches. The tie up will offer solutions to exporters in insuring their export credit and would also cater to individual requirements of exporters against payment risks due to default by buyers or due to other commercial and political risks in export of goods and services.During FY 2009, the Bank has adopted various strategies to achieve sustainable credit growth, improving asset quality, ensuring higher earnings and maintaining well-diversified credit portfolio covering all sections of the society to ensure financial inclusion. In addition, Centralised Processing Centres for some of the retail loans have already been established in 8 centers and is being replicated in other 5 identified places also to bring about transformation in the loan delivery process.During FY2009, the Bank introduced a new product called Synd Flexi Premium Current Account with sweep-out and sweep-in facility.In FY2009, the Bank has signed a memorandum of Agreement with Stock Holding Corporation of India Ltd. for e-Stamp vending across the country. Besides, it has launched the facility for online submission of requests seeking credit facilities by small and medium enterprises (SMEs) and for higher education loan through the Banks web site, www.syndicatebank.in. The Bank is the first to launch this facility for SMEs. The applicant can avail the credit facility from a branch of his / her choice. The applicant will receive an acknowledgement with a unique reference number to his/her e-mail address. It has launched similar facility for professional and self-employed persons, traders, agriculturists and housing loan clients.The Bank has obtained licenses for implementing the above in 200 branches. The Retail Module has been implemented successfully in 7 CPCs and 162 branches. The Corporate Module is under customization and is expected to be made available to CPCs / branches soon. It entered into a tie-up with International Cars and Motors Ltd. (ICML) on 7 July 2009 for providing retail financing facilities for the buyers of RHINO, their Multi Utility Vehicle which is available in 5 models, with features of passenger car and MUV; JCB (India) for financing entrepreneurs for purchasing JCB machines and equipments; M/s Maruti Suzuki Ltd. on 24 July 2009, for financing purchase of Maruti Suzuki Vehicles as preferred financiers; M/s Mahindra & Mahindra for financing the borrowers for purchase of new vehicles and Mahindra First Choice Ltd. for financing the purchase of certified pre-owned cars.In FY 2012, Bank has introduced new scheme under educational loans SyndSuperVidya to cater to the needs of meritorious students getting admission into prestigious institutes like IITs, IIMs, NIITs, etc., with financial support upto Rs 20 lakh without any collateral security and at reduced rate of interest. To achieve qualitative growth under select branded products viz. SyndNivas, SyndVidya, SyndSuperVidya, SyndSwarna, SyndVahan, SyndPigmy, SyndRent, SyndSmall Credit, SyndUdyog, SyndVyapar, SyndLaghuUdyami, SyndNivas Plus and SyndSaral, Bank has adopted a focused lending approach coupled with strong marketing initiatives.Centralized Processing Centres for processing Housing Loans have been extended to 6 more centres during the year and presently CPCs are made available in 18 Centres and will be replicated in other identified centres also to bring about a drastic transformation in the loan delivery process during FY2012. In addition, the Bank has introduced an optional insurance scheme for Housing Loan borrowers for covering the life of borrower during the loan period.In FY 2012, the Bank introduced special OTS schemes for considering proposals of farmers eligible under Agricultural Tractor loans, small NPA accounts under doubtful and loss assets category with book balance of Rs.100000/- & below as at March 2011 and of Micro and Small Enterprises borrowers.The Bank has issued 3.48 lakh Syndicate Kisan Credit Cards (SKCC) during the year 2011-12 to increase the scale of finance and enhancement in credit requirement of the farmers and to come out of the clutches of private moneylenders. Under Syndicate Kisan Samrudhi Credit Card Scheme, the Bank has issued 749 cards with a credit limit of Rs. 4.98 crore during the year, which provides hassle free investment credit in addition to need based short-term credit. In FY2012, the Bank has opened 334 branches in financial inclusion (FI) villages and engaged 1219 BC Agents and thus covered 1553 villages, exceeding the allotted villages with banking outlets well ahead of the stipulated date. The Bank has adopted both Smart Card Technology and Voice based Mobile Technology for implementing ICT based solution for implementation of FI. It has further opened banking outlets in the 1606 allotted FI villages with over 2000 population by opening 178 ranches, engaging 1428 BCs and also by covering 30 villages through mobile vans. The scheme of Ultra Small branches has been introduced to facilitate increased banking transactions amongst customers of villages covered under financial inclusion. The bank has opened 14 such branches as at 31 March 2012. During FY2012, Bank has entered into an arrangement with M/s SBI Life Insurance Company to offer comprehensive life insurance for a sum of Rs. 25000/- at a nominal premium covering natural and accidental death risk with inbuilt terminal illness benefit for all the No Frill Account holders under FI.The Bank launched new product viz SB-cum-OD for extending overdraft upto a limit of Rs. 10000/- to all rural landless families for meeting their requirements of consumption based on need with a provision to pay interest at SB Rate for the credit balance maintained in the account. In addition, another product has been launched for extending credit facility of Rs. 20000/- to the BC Agents to purchase Micro ATM Kit during the FY 2012. Bank is a Registrar for UIDAI for Aadhaar enrolment and has commenced Aadhaar enrolments in UP & Haryana and has completed enrolments close to a lakh. During the year, Bank issued Debit Cards as well as Smart Cards to enable people to operate through ATMs, Micro ATMs and POS in the Mewat District. Besides, it has provided EDC and POS Machines to merchant establishments.During the year 2012, a new scheme SyndMSE with reduced rate of interest, margin and liberalized terms and conditions to promote the growth of Micro and Small Enterprises was launched. Further to encourage Micro Enterprises, rebate in interest rate for prompt repayment was introduced. The Bank signed MOUs with reputed Commercial Vehicle Manufacturers viz. Tata Motors, TVS Motors and Bajaj Auto Ltd. for financing commercial vehicles under Micro and Small Enterprises.During the FY 2012, the Bank has added 214 branches to its network thus crossing the landmark of 2700 branches spread throughout the country. The addition of branches includes 200 General Banking brick and mortar branches and 14 Ultra Small branches. 68 branches are in under banked Districts and 44 branches in minority concentration Districts. During the year, 85 Satellite Offices have been opened.The Bank continues to spread its wings with a network of 2710 Branches and 127 Offices in 1842 centers covering 32 States and Union Territories under the CBS Network as on 31 March 2012. These include 334 branches newly opened under the Govt. of Indias ambitious Financial Inclusion project.The Bank operationalized 1240 bi-lingual ATMs as at 31 March 2012, spread across 668 centres covering all demographics across the country. Trilingual feature in ATMs is being introduced in a phased manner. The Bank has Global Debit-cum-ATM cards through VISA and Master Card payment gateways with a Card-base of over 48 Lakhs for global access to ATMs and POS terminals. Average Cash Disbursal through ATMs has touched close to Rs.1000 crore per month. Customers have been given access to around 91324 ATMs of 63 other Banks in the Country through National Financial Switch (NFS) operated by National Payments Corporation of India (NCPI) under the aegis of Reserve Bank of India and Indian Banks Association and to another 10853 ATMs of 14 banks belonging to Cash Tree ATM Network.In order to keep the customer instantly informed of the transactions that went through their account, as also to provide information of their account through message based banking, Bank has introduced Short Message Service (SMS) banking during the year 2012. The Bank has implemented Mobile Banking Services whereby customers can conduct their banking transactions through mobile phones. This includes balance enquiry, statement of accounts, funds transfer within customers of Bank, etc. In addition, funds transfer to other Banks through Interbank Mobile Payment Services (IMPS), offered by National Payment Corporation of India (NPCI) has also been introduced in FY 2012.During the FY12, National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) facility for transfer of funds between accounts of different banks, Railway Ticket reservation, Utility Bills payments, Payment of Taxes, such as Income Tax, Municipal Corporation Taxes; VAT etc. facilities are being extended through Internet Banking Facility. As an additional security measure, 2-Factor Authentication, wherein second authentication, apart from user ID and Password while using Internet Banking is being introduced shortly. During the financial year ended 31 March 2014, the Bank added 317 brick and mortar branches to its network and total number of branches (including London Branch) stood at 3251 as on 31 March 2014. The domestic branch network consisted of 1032 rural branches, 856 semi-urban branches, 704 urban branches, 658 metro & port town branches. ATMs installed reached to 1946 as at 31 March 2014.During FY14, the Bank actively participated in various Exhibitions /Expos on housing loans and education loans, besides holding meets of car dealers and builders during the year to build its brand image and to mobilize substantial business.During FY13-14, the Bank has issued 1.40 lakh Syndicate Kisan Credit Cards. Under Syndicate Kisan Samrudhi Credit Card Scheme, the Bank has issued 158 cards with a credit limit of Rs 1.97 crore during the year up to March 2014, which provides hassle free investment credit in addition to need based short-term credit. During FY 14, the Bank entered into an arrangement with M/s Birla Sun Life Insurance Company Limited for extending risk cover to FI customers at nominal premium of Rs 15/-p a. inclusive of service tax). Insurance cover is provided up to a limit of Rs 25000/- covering both accidental and natural death besides inbuilt terminal illness benefits during the year. The Bank has covered 10105 FI beneficiaries under micro insurance.The Bank has taken a number of steps for successful implementation of Direct Benefit Transfer (DBT) in the identified 78 districts during the year (with effect from 1 July 2013). It has a network of 852 branches in 102 DBT districts. Out of 852 branches, 681 branches are provided with on-site ATMs.The Bank has initiated various measures to increase the flow of credit to export sector. The coverage under the SyndExport Gold Card Scheme, a unique scheme for eligible exporters offering concessional and preferential terms was broadened to include more number of exporters during FY2014. Bank has operationalised 1946 ATMs as at 31 March 2014, spread across 860 Centres across the country. Bank has a Card-base of over 64.04 Lakh for global access to ATMs and POS Terminals. Average Cash Disbursal through ATMs stands at Rs 1036.52 Crore per month. During FY14, the bank has implemented Mobile Banking Services, whereby customers can conduct their banking transactions through mobile phones. In addition, it has procured 100 Nos. of Bunch Note Acceptors (BNAs) for installation in select market areas for accepting bulk cash from the customers. BNA facilitates for on-line credit/debit to the account for cash deposit/withdrawal on 24 x 7 basis. During FY 2014, Bank has launched a new deposit product SyndDisha on February 6, 2014. The deposit will be for a period of 444 days and carries attractive interest rate of 9.25% p.a. Senior citizens will get an additional interest of 0.50% p.a. This product was offered for limited period only and was applicable for deposits of less than Rs 10 crore only.The Bank launched 5 new products viz. SyndDoctor, SyndMarble, SyndTextile, SyndCashew and SyndTransport to address the credit needs of MSME sector. These products are tailor made schemes, to meet the credit requirements of qualified doctors, Marble, Granite and Stone Crushing Units; Textile units, Cashew Processing units and transport operators during the FY14. During FY2015, the Bank has added 303 brick and mortar branches to its network and the Total number of branches (including London Branch) stood at 3552 as on 31 March 2015. These include 1116 branches in under banked Districts and 924 branches in minority concentration Districts. Out of the above, 5 branches are opened in the North Eastern Part of India during the year. It opened 19 mid corporate branches during the year. The domestic branch network consisted of 1150 rural, 936 semi-urban, 783 urban and 682 metro branches. The Total number of ATMs installed upto 31st March 2015 stood at 3427. The Bank has issued 3.56 lakh Syndicate Kisan Credit Cards and disbursed Rs 3631.05 crore during the year 2014-15. As at March 2015, Rupay Kisan Cards have been issued in case of 1,78,000 operative SKCC A/cs. Under Syndicate Kisan Samrudhi Credit Card Scheme, the Bank has issued 140 cards with a credit limit of Rs1.87 crore during the year up to March 2015, which provides hassle free investment credit in addition to need based short-term credit.The Bank has passed on benefit to 8.35 lakh farmers during 2014-15 under interest subvention scheme of the Govt. of India. The bank has extended the interest subvention benefit @ 2% to the tune of Rs59.27crore and Rs19.32 crore as additional incentive subvention @ 3% for timely payment during 2014-15 and making the eligible farmer derive credit at the effective prescribed interest rate of 4% p.a. During the FY 14-15, the Bank has introduced special OTS schemes for considering proposals of farmers eligible under agricultural tractor loans, small NPA accounts under doubtful and loss assets category with book balance of Rs 5,00,000/- and below and of Micro and Small Enterprises borrowers. A special OTS scheme for settling NPAs of farmers under direct finance to Agriculture & allied activities was introduced for the benefit of distressed farmers and a Special OTS Scheme was also formulated for settling NPA education loans with original sanctioned limit of Rs4.00 lakh & below for the benefit of education loan borrowers.During FY15, the Bank has successfully raised Funds in form of Medium Term Notes (MTN) to the tune of USD 400 million at very competitive rates. The funds have been deployed at Overseas Branch for expansion of Assets.Bank has operationalised 3427 ATMs as at 31 March 2015, spread across 2126 Centres across the country. Bank has a Card-base of over 106.75 lakh for global access to ATMs and POS Terminals.Missed Call Banking facility has been introduced that enable the customers to know the Balance Outstanding in their latest CASA Account, through a missed call to specific number during FY 2015. In addition, it has switched over to new mailing solution, which is based on latest technology and user friendly.The Bank has implemented Govt. Business Module (GBM) in Core Banking covering PPF, Senior Citizen Savings Schemes (SCSS), RBI Relief Bonds, OLTAS, EASIEST, Collection of State Tax for various States etc. during FY15.During FY2016, Bank launched Incentive based Campaign for Branches/CPCs/ROs in respect of Housing Loans under SyndNivas Scheme and for Branches in respect of four Wheelers Loans under SyndVahan Scheme to encourage staff to canvass new business. It has opened 50 branches as Fast Track Branches, wherein business level is expected to be at least Rs.25 crore in a year. During FY 2016, Bank has entered into MOU with M/s LIC of India on 10 April 2015 to implement Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJBY); MOU with /s Birla Sun Life Insurance co Ltd since 15 May 2015 for providing free life insurance cover to housing loan borrowers under special package; it tied up with M/s Azim Premji University since 27 May 2015 for Education Loans and to attract young customers and signed MOU with M/s Oil India Limited for extending top-up housing loan or takeover of housing loan of the employees who are retiring either on superannuation or on voluntary retirement from the services of the company/organization. In addition, it has registered under Pension Fund Regulatory & Development Authority (PFRDA) and all branches are having the registration IDs for selling Atal Pension Yojana.During FY2016, Bank has added 251 brick and mortar branches to its network and the total number of branches (including London Branch) stood at 3766 as on 31 March 2016. These include 1219 branches in under banked Districts and 945 branches in minority concentration Districts. Out of the above, 10 branches were opened in the North Eastern States of India during the year. Bank opened 3 Mid Corporate branches during the year. As per RBI guidelines, Banks are required to open 25 per cent of the new branches in rural unbanked tier 5-6 Centres. The domestic branch network consisted, 1231 rural, 1030 semi-urban, 823 urban and 681 metro branches. The total number of ATMs installed upto 31 March 2016 stood at 3730.In FY2016, MOUs with reputed commercial vehicle manufacturing companies were renewed to expand credit to borrowers for purchase of commercial vehicles under MSE sector. On pilot basis bank entered into MoU with OLA cabs for financing Taxi Operators in Bangalore City. The Bank has launched MSME product - SyndProfessional to address the credit needs of target group of qualified professionals to take up service/ manufacturing activities to encourage Start Ups during FY2016.The Bank has issued 5.56 lakh Syndicate Kisan Credit Cards during the year 2015-16. The cumulative number of Syndicate Kisan Credit Cards issued so far up to March 2016, excluding the renewals, is 25.35 lakh with a total credit limit of Rs.20787.58 crore. As at March 2016, Rupay Kisan Cards have been issued in case of 6.10 lakh operative SKCC A/cs. The Bank has extended crop production credit of Rs.9586.60 crore benefiting 9.56 lakh farmers during 2015-16 under interest subvention scheme of the Govt. of India. The bank has extended the interest subvention benefit at the rate of 2% to the tune of Rs. 82.77 crore and Rs.21.52 crore as additional incentive subvention at the rate of 3% for timely payment during 2015-16 and making the eligible farmer derive credit at the effective prescribed interest rate of 4% p.a. During FY 2016, the Bank has acquired new Enterprise Class Storage System based on latest technology & solid state hard disks which will substantially improve the performance and reduce the EOD/BOD window and facilitate having multiple copies of databases for report generation and MIS activities.Bank has operationalised 3730 ATMs as on 31st March 2016, spread across the country. Bank has a Card-base of over 124.85 Lakh for global access to ATMs and POS Terminals. Bank has provided CDs under one ATM/CD to each branch and replacement of old ATMs. Bank has already installed 3251 Cash Dispensers to comply with the directions of DFS for providing to branches where there is no ATM/CD. Bank has replaced 1141 old ATMs with latest featured ATMs.During FY 2016, Bank has made Online Grievance Redressal System live. The online grievance system provides for online registration of grievance through banks website. In addition, it provides access to customers for recording the complaint, compliant status tracking and receiving response from the bank.As on 31st March 2016, Bank had installed 2,317 POS Terminals in total, out of which 522 terminals were installed during the year. Bank has also ventured into Indirect POS business by acquiring MasterCard transactions under its membership through POS terminals deployed by Lakshmi Vilas Bank Ltd, City Union Bank Ltd. and Dhanalakshmi Bank. In addition, it has launched SyndGuide - a mobile-based application which provides virtual website on the palm to its valuable customers. It is a green initiative and acts as guide for knowing about information relating to Banks locations, schemes, products, news and events, rate of interest, etc. on Smartphone.In order to improve the efficiency and business of the organization, institutionalize more effective span of control over the branches/business units, rationalizing geographical spread of branches across the regions, Bank has opened 2 new Regional Offices one at Vadodara by carving out branches from existing Ahmedabad Region and another at Dehradun by carving out branches from existing Meerut and Moradabad Regions during the FY 2015-16. During the year 2017, Bank has entered MOU with M/s National Bulk Handling Corporation (NBHC), M/s Star Agri-Warehousing and Collateral Management Services Ltd, (STARAGRI) & M/s National Collateral Management Services Ltd (NCML), M/s CNX Corporation Ltd for extending loans to farmers and other borrowers against Negotiable Warehouse Receipt (NWR). It entered into tie-up with sugar factories to facilitate farmers to avail sugarcane crop loans at higher level without collateral securities. Bank had tie-up with NPCI for National Electronic Toll Collection (NETC) to facilitate automated Road Toll collection electronically using RFID (Radio Frequency Identification) tag during FY17.During the FY17, the Bank has added 169 brick and mortar branches to its network and the total numbers of branches (including London Branch) were at 3933 as on 31 March 2017. These include 1268 branches in under banked districts and 982 branches in minority concentration districts. Out of the above, 2 branches were opened in the North Eastern States of India during the year. Bank opened 2 Mid Corporate branches during the year. As per RBI guidelines, banks are required to open 25 per cent of the new branches in rural unbanked tier 5-6 centers. The domestic branch network consisted have 1190 rural, 1091 semi-urban, 813 urban and 838 metro branches. The total number of ATMs installed up to 31 March 2017 was at 3974. The Bank has introduced Synd Vidya-Abroad educational loan facility up to Rs. 200 lakhs to students who wish to go abroad for study. It introduced new gold loan product SyndSwarna- EMI for non-agricultural purposes with EMI facility with enhanced scale of finance at 70% net value of Gold during FY17.The Bank has issued 4.85 lakh Syndicate Kisan Credit Cards during the year 2016-17 amounting to Rs. 6,562 crore. As at March 2017, Rupay Kisan Cards have been issued in case of 7.21 Lakh operative SKCC A/cs.The Bank has extended crop production credit to 6.04 lakh farmers during 2016-17 under interest subvention scheme of the Govt. of India. The Bank has extended the interest subvention benefit at the rate of 2% to the tune of Rs. 173.79 crore and Rs. 144.63 crore as additional incentive subvention at the rate of 3% for timely repayment during 2016-17 and making the eligible farmer derive credit at the effective prescribed interest rate of 4% p.a.Bank has opened 43.47 lakh Basic Savings Bank Deposits (BSBD) accounts under PMJDY as on 31 March 2017 with an outstanding balance of Rs. 1,178.29 crore out of which 32.14 lakh PMJDY Accounts (73.95%) have been seeded with Aadhaar against industry average of 60.38%.Bank has launched Aadhaar enabled cashless Public Distribution System (AePDS) in Anantapuramu and Kadapa districts of AP on 9 December 2016. As on 31 March 2017, 11,009 Fair Price Shops (FPS) in AP were integrated for Aadhaar enabled cashless sale of monthly ration and these outlets have started doing live cashless transactions from 1 January 2017 and the project is running smoothly. Subsequently, Bank has started the cashless AePDS in Ambala district of Haryana and 46 Fair Price Shops (FPS) were integrated for Aadhaar enabled cashless transactions.Bank has operationalised 3,974 ATMs as on 31 March 2017, spread across the country. Bank has a card-base of over 144.30 lakh for global access to ATMs and POS Terminals. Bank has recalibrated all ATMs as per post demonetization requirements.Bank has tie up with LIC of India for providing life insurance cover under Pradhan Mantri Jeevan Jyoti Bima Yojna (PMJJBY). During FY 2016-17, Bank has enrolled 6,73,113 PMJJBY policies. It had tie-up with United India Insurance Company limited (UIICO) for providing accidental death insurance under Pradhan Mantri Suraksha Bima Yojna (PMSBY). During FY 2016-17, Bank has enrolled 21,50,094 PMSBY policies.During FY 2018, the Bank has added 105 Banking Outlets to its network and the total number of Banking Outlets were at 4013 as on 31 March, 2018 and Banking Outlets network consists 1239 rural, 1127 semi-urban, 813 urban, 833 metro and 1 overseas Banking Outlet at London. These include 1,305 outlets in under banked districts and 996 outlets in minority concentration districts.During the FY 2017-18, 26 new Banking Outlets are opened in Unbanked Rural Centres (URC)/Left-wing Extremism (LWE) districts. In addition, Bank has 979 Part-time Banking Outlets (Ultra Small branches) as on 31 March 2018. The Bank also merged 25 unviable Banking Outlets. The Bank has opened 9 Regional Offices (ROs) and 14 Retail & MSME Loan Centers (RMLCs) during the FY 2017-18. The total number Automated Teller Machines (ATMs)/ Bunch Note Acceptors (BNAs) installed up to 31 March 2018 was at 4248.In FY18, Bank has entered into MOU with reputed Manufacturers of Commercial vehicles like Tata Motors, Bajaj Auto, TVS Motors, Force Motors, Ashok Leyland, Piaggio Vehicles Pvt Ltd, Saera Electric Auto Pvt Ltd, Eicher Polaris Pvt Ltd and BEML Ltd for preferred financier for financing customers of the companies; for purchase of various models of commercial vehicles to increase credit under transport sector. 76 MSME branches have been renamed as UdyamiMitra branches.The Bank has extended crop production credit to 5.63 lakh farmers during 2017-18 under interest subvention scheme of the Govt. of India. The bank has extended the interest subvention benefit at the rate of 2 per cent to the tune of Rs 182 crore and Rs 193 crore as additional incentive of interest subvention at the rate of 3 per cent for timely repayment during 2017-18 and making the eligible farmer derive credit at the effective prescribed interest rate of 4 per cent p.a. During the year 2017-18, the Bank undertook technical initiatives such as dual authentication of Self Help Groups (SHG) in Micro ATMs; Aadhaar authentication through Micro ATMs by Ekyc; and OTP based Aadhaar authentication facility in Bank website.The Multi-Currency Co-Branded forex pre-paid card in association with Thomas Cook India Ltd and Master Card was launched on 23 June 2017. This borderless Prepaid Card has the option of loading eight currencies on a single card-US Dollars, British Pounds, Euro, Australian Dollars, Canadian Dollars, Swiss Francs, Singapore Dollars and Japanese Yen. There are 6 Foreign Exchange Processing Centres and 57 branches designated to issue this card.As part of providing enhanced customer service, Bank has implemented Green PIN Project, which provides an option to customers to generate new / reset existing ATM Debit Card PIN, through ATM at any point of time. Further, with this facility, customers can generate ATM Debit Card PIN instantly, if their mobile number is linked to the account in FY 2018. In addition, the Bank has installed GST Software to facilitate for Online & Offline Collection of Goods & Service Tax (GST).As on 31 March 2018, Bank had installed 8140 POS Terminals in total, out of which 3,644 terminals were installed during the year. Bank launched 2 new current account products linked to POS terminals. The features are devised to give rent free POS terminals based on the Monthly Average Balance (MAB) maintenance of Rs 1 lakh and Rs 2 lakhs in the Current Accounts.Bank has operationalised 3907 ATMs and 341 BNAs as on 31 March 2018. Bank customers can deposit cash into their accounts or third party accounts in Bank using Bunch Note Acceptors (BNAs).During 2017-18, the Bank raised Rs 4,940 crore capital comprising equity capital of Rs 3,990 crore from QIP and preferential allotment to Government of India and Rs 450 crore additional tier I capital and Rs 500 crore tier II capital by issuing Basel III compliant Tier I and Tier II bonds.
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