SIB Full Form: Know All About SIB Here!
By BYJU'S Exam Prep
Updated on: September 25th, 2023
SIB Full Form: Many people ask what is the full form of SIB when studying for banking exams. The SIB full form is South Indian Bank Limited.
“South Indian Bank” was one of the first banks in South India, created during the Swadeshi movement. The bank was founded to fulfil the ambitions of a group of ambitious men who met in Thrissur, a big town in the former state of Cochin (today regarded as the Cultural Capital of Kerala). On the one hand, they hoped to provide a reliable, secure, and customer-focused depository for community finances. On the other hand, they hoped to free the business sector from the grips of unscrupulous money lenders by giving need-based loans at moderate interest rates. The bank has been able to project itself as a dynamic, fast-growing, service-oriented, and trend-setting financial intermediary throughout its extended existence by interpreting the founding fathers’ vision as its corporate mission.
Table of content
Organizational Structure Of SIB
The South Indian Bank continues to march forward with a new logo and image. With branches across India and a global clientele, the bank is regarded as one of India’s most active banks, with a skilled and tech-savvy team of experts at its core.
|
Name |
Position |
|
Sri. Salim Gangadharan |
Part-time Chairman |
|
Mr Murali Ramakrishnan |
Managing Director and CEO |
|
Sri.Francis Alapatt |
Director |
|
Smt. Ranjana Salgaocar |
Director |
|
Sri. Parayil George John Tharakan |
Director |
|
Sri. V. J. Kurian |
Director |
|
Sri. M George Korah |
Director |
|
Sri. Pradeep M Godbole |
Director |
|
Sri. Paul Antony |
Director |
|
Sri. R A Sankara Narayanan |
Director |
Headquarters of SIB
The headquarters of South Indian Bank Limited is in Thrissur, Kerala, India. In June 1993, SIB became the first private sector bank in Kerala to launch an Overseas Branch dedicated solely to export and import operations. In addition to the in-house partial automation solution in 1992, they are the first bank in Kerala to build an in-house, fully integrated branch automation program.
Products And Functions of SIB
In 1946, under the RBI Act, South Indian Bank Limited became the first private bank in Kerala to be designated as a scheduled bank. In November 1992, it became the first private sector bank to launch an NRI branch.
Personal Banking – The bank provides various personal banking goods and services, including deposit, savings, loans, online banking, mobile banking, Demat services, credit card, debit card, etc.
HDFC Mutual Fund, Birla Sun Life Asset Management Company, Franklin Templeton, UTI Mutual Funds, Fidelity Fund Management, DSP BlackRock Mutual Funds, ICICI Prudential AMC, HSBC Investments, Reliance Mutual Funds, Fortis Investments, Principal Mutual Funds, TATA Mutual Fund, and Sundaram BNP Paribas are among the mutual funds offered by the bank.
SIB also caters to NRI customers with banking products and services, including deposits, vehicle loans, remittances, investment schemes, and insurance.
Corporate banking is a branch of banking that offers a wide range of goods and services to businesses. SIB provides working capital financing, project financing, and structured financing, among other benefits.
This was all about SIB Full form, SIB History, and SIB Functions. We hope you found this helpful post. We hope you this would be extremely beneficial for a banking exam. Please contact us if you have any queries, and we will be more than happy to assist you.
Also, Check:
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