11-09-2017, 10:52 AM
South Indian Bank Limited (SIB) is a major private sector bank based in Thrissur, Kerala, India. South Indian Bank has 850 branches, 4 service branches, 48 external counters and 20 regional offices in more than 27 states and 3 trade union territories in India. It has created 1320 ATMs and 17 Bulk Acceptable Note / Cash Deposit machines throughout India.
South Indian Bank was registered as a Limited Company under the Companies Act of 1913 and began its activities on 29-01-1929 in Round South, Thrissur. South Indian Bank Ltd., was formed by a group of 44 entrepreneurs from Thrissur who contributed Rs.500 / - each to the initial disbursed capital of Rs.22,000 / -. Their main objective was to serve the Thrissur mercantile community by freeing them from the clutches of the lenders who charged exorbitant interest rates. The bank received very good support from the general public. Initially growth was slow but steady. The number of branches opened each year testified to its stability and popularity. It was included in the second schedule of the Reserve Bank of India and became a bank scheduled on 07-08-1946. SIB was the first privately programmed bank in Kerala to obtain the license under section 22 of the Banking Regulation Act 1949 of RBI on 06-17-1957.
South Indian Bank was registered as a Limited Company under the Companies Act of 1913 and began its activities on 29-01-1929 in Round South, Thrissur. South Indian Bank Ltd., was formed by a group of 44 entrepreneurs from Thrissur who contributed Rs.500 / - each to the initial disbursed capital of Rs.22,000 / -. Their main objective was to serve the Thrissur mercantile community by freeing them from the clutches of the lenders who charged exorbitant interest rates. The bank received very good support from the general public. Initially growth was slow but steady. The number of branches opened each year testified to its stability and popularity. It was included in the second schedule of the Reserve Bank of India and became a bank scheduled on 07-08-1946. SIB was the first privately programmed bank in Kerala to obtain the license under section 22 of the Banking Regulation Act 1949 of RBI on 06-17-1957.
