Daijiworld Media Network - Mangaluru (SP)

Mangaluru, Jan 26: Noted economist and former chairman and managing director (CMD) of Syndicate Bank, N K Thingalaya, breathed his last in a private hospital here on Friday January 25. The renowned banker, who was residing near Ladyhill in the city, was 82. He has left behind a son and a daughter.

Dr Naveenchandra K Thingalaya, who was among a handful of renowned banking economists to have risen to the position of the managing director of a nationalised bank, was suffering from pneumonia since the last ten days.

Born in 1937, Dr Thingalaya's early schooling was completed in the city. He secured degree in economics from Madras University and secured postgraduate degree in 1960 followed by doctorate in economics from Mumbai University in 1966. He was appointed by T A Pai as economic adviser in the department of economic research that had been newly opened by the bank in 1966. In 1977 he functioned as adviser for a World Bank research on Syndicate Bank's experience in bringing newness to banking. He also took part in symposiums and events conducted in foreign destinations as subject expert. Dr Thingalaya functioned as the director of Indo - Hong Kong International Finance Ltd, which was promoted by Syndicate Bank and Canara Bank at Hong Kong during 1987-88.

Dr Thingalaya got promoted in course of time and became the chairman and managing director of Syndicate Bank. He retired from the bank in 1997. He worked as non-executive chairman of Canbank Investment Management Services, Bengaluru between 1999 and 2005. He was currently the president of Justice K S Hegde Institute of Management. During his career, he discharge duties in various august positions.

Co-incidentally, Dr Thingalaya breathed his last on January 25, the day on which his father, Krishnappa Thingalaya, who was a freedom fighter, had passed away. Krishnappa Thingalaya's end had come on January 25, 1980. Another unique feature of his service in Syndicate Bank was that he had joined the bank's head office at Manipal for service and continued to serve in the same premises till he retired.