SIB Full Form - South Indian Bank Limited

What is the full form of SIB?

The full form of SIB is the South Indian Bank Limited. SIB, headquartered is located in Thrissur, Kerala, India, is a major private sector bank. There are eight seventy-one branches, Four service branches, fifty-three extension counters and twenty regional offices distributed throughout India. Over 1,500 ATMs & ninety-one cash deposit devices have also been established by the bank.

A brief history of SIB

  • SIB began operations in Round South, Thrissur, on January 29, 1929, after being incorporated as a Private Limited Company under the Companies Act of 2013.
  • The SBI Ltd was founded by a group of 44 Thrissur businessmen who each contributed 500 rupees to the initial paid-up capital of 22,000 rupees.
  • Their main goal was to encourage Thrissur’s merchant group by freeing them from the clutches of high-interest cash lenders.
  • The bank has received a lot of positive feedback from the general public. Initially, the development was slow but steady. The number of subsidiaries established in the previous year attested to the company’s stability and success.
  • It was included in the RBI’s second timetable, and on August 7, 1946, it was designated as a scheduled bank.
  • SIB was the first scheduled private sector bank in Kerala to be licenced by the RBI under Section 22 of the Banking Regulation Act, 1949, on June 17, 1957.

Join the discussion

You might also like...

Copyright © 2024 Examgyani Technologies Private Limited. All rights reserved.

Exams Made Easy

One destination to find everything from exams to study materials.

Exams

Jobs

Courses

Q&A

Register to Apply

Personal Details

By submitting this form, you accept and agree to our Terms of Use.