Syndicate Bank signs MoU with CMC

Bank's institute to become global centre of excellence

Public sector Syndicate Bank has signed an MoU with CMC Ltd., a subsidiary of TCS Limited, to make the Syndicate Institute of Bank Management (SIMB) a centre of excellence to provide management education of global standards.

The MoU was signed between Syndicate Bank chairman N Kantha Kumar and managing director of CMC N Ramanan.

The Manipal-headquartered bank said that SIMB which had been functioning as a centre for providing in-house training to the bank's professionals will be converted into a world class training centre to provide full-fledged education programme in banking, systems and finance.

Kantha Kumar told Business Standard that now executives of other commercial and private banks could avail of the training facilities as well.

As part of the MoU, CMC, which has over 25 years of experience in corporate training and domain expertise in industrial practices, banking and finances, will prepare the curriculum. "While the management will remain with the bank, CMC will take care of the marketing, providing additional faculty support, and designing learning aids and software," Kumar added.

CMC MD & CEO Ramanan said that as India was gradually becoming a knowledge economy, there was an urgent need for bankers and financial experts to be of world standards.

"Syndicate Bank's banking domain expertise, coupled with CMC's expertise in IT and corporate training will help impart world class training to them, he added. Set up in November 1997, the fully-residential institute has all modern infrastructure like a state-of-the-art computer laboratory, library, conference hall, auditorium, gymnasium, mini-golf course, cricket ground, jogging track, vollyball courts and indoor games.