A recent press report said that Tamilnad Mercantile Bank (TMB) Limited has opened its 241st branch at Sathankulam in Thoothukudi district in south Tamil Nadu.
Mr. A.K. Jagannathan, Managing Director and CEO of the bank, presided over the inaugural function. Dr. T. Aasirvatham Manoharan, Yesumani Clinic, Sathankulam, opened the new branch.
Tamilnad Mercantile Bank limited head-quartered in Tuticorin in Tamil Nadu; it was founded by members of Nadar Mahajana Sangam in 1921. The bank was originally registered on 11 May 1921 as Nadar Bank Limited under the Indian Companies Act, 1913. M.V.Shanmugavel Nadar was elected as the first Chairman on 4 November 1921. The bank was opened to the public by T.V.Balagurusamy Nadar on 11 November 1921 in Ana Mavanna Building at South Raja Street, Tuticorin.
TMB Banks today operates is own network of 209 ATM Centers all over India. Apart from TMB’s own ATM network, it also has a tie up with the National Financial Switch (NFS) through which its ATM Cards can be used at any of the ATM’s operated by forty other banks.
The bank has also hiked its interest rates makings its loans costlier. The lending portfolio of the bank includes home loan, personal loan, car loan, business loan, Doctors loan, pensioner loan etc.