Roles and Responsibilities of Syndicate Bank in Planned Family Trust

      Syndicate Bank is associated from the date of establishment of the trust since 1996. From the date of inception we are involved in End to End Financial Management of the Trust. As a banker and a prime supporter of the trust our responsibilities are stated as follows:-

1.     Continuous monitoring of the fund that are held with us and updating the status of the same to the concerned authority from time to time and as per there instruction.

2.     Printing and Inventory Management of the Planned Family cards meant for new/existing registration of a candidate.

3.     Managing the entire Lifecycle of the cheques.

a)     Printing of Personalized cheques from our head office.

b)    Preparation of cheques as per the list of applicants.

c)     Distribution of the cheques.

d)    Constantly coordinating with other branches of our nationwide CBS network for faster clearance of the same.

4.     Opening of zero balance bank accounts for the planned family applicants under our SyndSamanya product. Keeping in mind that a large section of the under privileged girl children are not possessing the required documents (Photo ID, address proof) for opening a bank account the bank has taken initiative to accept the planned family registration card/application card as a photo identity as well as address proof . This can be stated as a major step towards Financial Inclusion on behalf of Syndicate Bank. Till date we are maintaining more than 1000 accounts which are associated with the trust with a growth rate of 15% per annum (approx) in the count.

Moving ahead in future a girl child who aspires to pursue higher education and moves to main land we being an existing banker to them can extend our cooperation in terms of Remittance Services (NEFT/RTGS, Online Fund Transfer, Foreign Exchange Services etc), Education Loan under our SyndVidya product, further support to additional cost of studies under SyndVidyarthi scheme. We have already started issuing Debit/ATM cards to the minor students after taking consent of their guardian in writing. Girl children taking advantage of our nationwide CBS network can access their banks accounts from every nook and corner of the country.