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As per the notification issued by the Government of India in terms of section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970) and published under Extraordinary Part II-Section 3-Sub-section (i) in the Gazette of India, Syndicate Bank was amalgamated into Canara Bank with effect from 1st April 2020.
Consequently, all branches of Syndicate Bank are functioning as branches of Canara Bank w.e.f April 1, 2020. Customers, including depositors of Syndicate Bank, are treated as customers of Canara Bank with effect from April 1, 2020.
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