CSB Full Form
What is the full form of CSB?
CSB stands for Catholic Syrian Bank. It is one of the first private banks to open in India, which was founded in Thrissur, Kerala, in 1920. The bank was founded with a paid-up capital of INR 45,270 lakhs and an authorised capital of INR 5 lakhs. It was established to offer banking and financial services. The bank had only one branch in Kerala, but in 1972 it launched its first branch in Mumbai's Chembur district.
The Reserve Bank of India (RBI) proposed to include this in the second schedule of the RBI Act in 1969. Following this, the Catholic bank was given the designation Scheduled bank of India in 1975. The same year, the bank also started conducting business abroad. Currently, the bank operates 468 ATMs nationwide, in addition to over 609 locations.
Services Provided By CSB:
When CSB bank was first established, the goal was to offer customers banking services. However, the bank gradually began to provide financial services as well. Some services provided by CSB are:
Personal Banking
Loan and Mortgage
Forex Services
Insurance
Mutual Funds
NRI Banking
Agri Banking
Corporate Banking
Remittance Services
Demat & Trading
Achievements of CSB:
- CSB is a part of IDRBT's National Financial Switch, which promotes innovation and research in banking technology.
- The bank combined all of the branches using the MAARVEL software.
- It has partnered with prestigious insurance firms to offer customers insurance solutions like ICICI Lombard General Insurance Company Ltd and Edelweiss Tokio Insurance Company Ltd.
- On December 4, 2019, Bank launched its initial public offering with INR 409.67 crores.
- Customers can now access their bank accounts, check account balances, pay utility bills, and transfer money while on the road, thanks to the bank's new CSB bank app.
- CSB Bank and Visa International have jointly launched a debit card.