The city of Ambarnath, in the Indian state of Maharashtra, is also a part of the Mumbai Metropolitan Region. It falls within the territorial boundaries of the Thane district. The city is often spelled as Ambernath. The name Ambarnath translates to the Lord of the Sky and refers to Lord Shiva. The city is the site of an old temple dedicated to Lord Shiva, from 1060 AD. Like all suburbs of Mumbai, the railway track divides the city of Ambarnath into Ambarnath East and Ambarnath West. Ambarnath west has developed as an industrial zone and it has numerous small and large chemical factories. The government of India has set up an Ordnance Factory in the region, which is slowly developing a residential neighborhood in the area. There is a large safety matchstick manufacturing facility of WIMCO is located in this region along with more than 150 large-scale industries such as textile, aerospace, chemicals, edible goods and electrical hardware. Ambarnath East is mostly a residential area. The famous Shiva temple is located in Ambarnath East along with several residential and sporting complexes.
the Syndicate Bank was established by Upendra Pai, T M A Pai, and Vaman Kudva. The bank was popular as Canara Industrial and Banking Syndicate Limited at the time of its establishment. The Syndicate bank was nationalized by the Government of India On 19 July 1969, along with 13 major commercial banks of India. It is based in the university town of Manipal, India. The business of the bank started with a capital of 8000 rupees. In 1925, the first office of the bank began its business at Udupi in Dakshin Kannada district, Karnataka, India. Its membership as a clearinghouse was secured at Mumbai by 1937. The main objective of the bank was to provide the financial assistance to the local weavers. Initially, through its agents, the bank collected as low as two annas from the doorsteps of the depositors daily. Pigmy Deposit Scheme is the same kind of system, wherein the agents of the bank come doorsteps to collect the deposit, and it is still prevailing in India. The Bank has its branches in the multiple states and union territories in India. Syndicate Nitte School of Banking (SNSB) is a joint venture between the Syndicate Bank and Nitte Educational International Pvt. Ltd. (NEIL). It operates one center each at Mangalore and Greater Noida.