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Syndicate Bank is one of the oldest and major commercial banks of India. It was founded by T M A Pai, Upendra Pai and Vaman Kudva. At the time of its establishment, the bank was known as Canara Industrial and Banking Syndicate Limited. The bank, along with 13 major commercial banks of India, was nationalised on 19 July 1969, by the Government of India. The Bank has headquarter in the university town of Manipal, India. On August 30, 2019, the Government of India announced the bank would be merged into Canara Bank. The merger is most likely come into effect at the beginning of the next fiscal year starting on April 2020.