The coastal Karnataka region, including Udupi, is known as the "Cradle of Indian Banking". Several major banks originated here: Syndicate Bank and Corporation Bank were founded in Udupi. Between 1880 and 1935, this area saw the establishment of 22 banks, contributing to high banking density. The coastal region emphasized early trade, education, and savings culture. This led to the development of many nationalized and private banks in the area.
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