Ajay Vipin Nanavati is new Syndicate Bank chairman

The appointments committee of the cabinet (ACC) has approved Mr. Ajay Vipin Nanavati’s appointment as non-official director/non-executive chairman of Syndicate Bank for three years. In 2015, the government had bifurcated the posts of chairman and managing director in public sector banks. Syndicate Bank was founded by T M A Pai, Upendra Pai and Vaman Kudva. The first branch of the bank started its operations in 1925 at Udupi, in Dakshin Kannada district in Karnataka state. The bank was nationalised on 19 July 1969, by the Government of India, headquartered in Manipal, (Karnataka), India.