SIB Full Form | Full Form of SIB
SIB Full Form - South Indian Bank
South Indian Bank Limited
- The full form of SIB is that the South Indian Bank Limited. SIB, headquartered is found in Thrissur, Kerala, India, may be 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.
History of SIB
- SIB was incorporated under the companies Act of 2013 as a private Ltd. And began business in Round South, Thrissur, on 29 January 1929.
- A community of 44 Thrissur businessmen who donated 500/- each to initially paid-up capital of 22,000/- was founded by the SBI Ltd.
- Their main goal was to encourage Thrissur’s merchant group by liberating themselves from the hands of the cash lenders who demanded high-interest rates.
- The bank has provided very strong encouragement from the overall public. The event was low but stable initially. The amount of subsidiaries established last year proved its continuity & success.
- It’s included within the RBI’s second timetable then became a scheduled bank on 7 August 1946.
- On 17 June 1957, SIB was the very first scheduled private sector bank in Kerala to get a license from the RBI under Section 22 of the Banking Regulation Act, 1949.