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From Udupi, TMA Pai s Syndicate Bank empowered local entrepreneurs. L-commerce can now magnify it across India
Synopsis
The story of Syndicate Bank and its formative years under TMA Pai has invaluable lessons about inclusive growth in the age of digital finance.
Tonse Madhav Anant Pai (TMA Pai) would not have started a Bank in the provincial town of Udupi if he followed conventional business wisdom that required existing economic activity to support a Bank. In the days when the visionary Pai started Canara Industrial and Banking Syndicate in Udupi, most Banks were in Bombay, Delhi, or Calcutta. Pai and some of his peers were building something which later became the bedrock of the Indian banking system