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Udupi: D.T. Pai, Chairman cum Managing Trustee of Jnana Jyothi Financial Literacy & Credit Counselling Trust, Manipal, former Chairman & Managing Director of Syndicate Bank and Banking Ombudsman passed away at KMC Hospital on Tuesday September 30 following illness. He was aged 72 and is survived by his wife, Son and daughter.

D T Pai had rich banking experience of over 4 decades. He started his banking career with the Reserve Bank of India, moving on to Syndicate Bank where he rose to the position of General Manager before his selection as Executive Director of Union Bank of India. He held other prominent offices such as Banking Ombudsman at Kanpur for 3 years from January 2003, Trustee on the board of Unit Trust of India, member of governing body of T A Pai Management Institute, Manipal University, member of managing committee of Indian Banks’ Association and Indian Institute of Bankers.

A post-graduate in commerce from Bombay University and a Certified Associate of Indian Institute of Bankers, Shri Pai had his High School education in Gibb High School, Kumta. He took employment at the age of 18 to support his family in West Coast Paper Mills. He moved to Bombay to earn and learn where he started his banking career in Reserve Bank of India in 1963 and continued his higher education.

Pai joined Syndicate Bank in April 1969. He was closely associated with implementation of Lead Bank Scheme, evolving special credit schemes of Bank for weaker sections and establishment of the first Regional Rural Bank viz., Prathama Bank at Moradabad and Gurgaon Grameena Bank at Gurgaon. He worked as Regional/Zonal head in Delhi, Chandigarh, Mumbai, Ahmedabad and Kolkata. He rose to the position of General Manager and held portfolios of Planning & Development, Credit & International Banking, Funds & Investment Management, Merchant Banking, Accounts and Services.

He moved to Union Bank of India in August 1996 as Executive Director and in 2000 Government of India appointed him as Chairman & Managing Director of Syndicate Bank. He introduced the “Core Banking Solution” a major technology initiative aimed at rendering state of the art of banking services in Syndicate Bank in 2001 making it the first public sector bank in the country to take this initiative.

He has visited USA, UK, Singapore, Indonesia, Doha, Muscat, Abu Dhabi, Dubai, Kuwait, Nepal on official assignments and also Jordan and Iraq as a member of Inter Institutional Team.

He has authored three books on Banking viz., “Overview of Banking Development 1947-2007”, “Overview of Financial Inclusion and Micro Credit” and “Banking Development and Challenges”.

He was honoured with the New Year Award 2011 (for Professional Acumen) by Manipal University, The Academy of General Education, Syndicate Bank and Rotary Club of Udupi-Manipal.