THOOTHUKUDI: The Reserve Bank of India (RBI) has appointed Tamilnad Mercantile Bank (TMB) as an agency bank of RBI, enabling the leading private sector bank to undertake government business. The agreement in this regard was executed with the RBI in Mumbai.
In a statement, TMB MD & CEO S Krishnan said being listed in the stock exchanges, Tamilnad Mercantile Bank Ltd., is back to enrich its vision of expanding its network across India, with added features in products and services.
"The bank has been authorised to undertake government business on behalf of RBI. It gives me immense pleasure in sharing this appointment by RBI with all our stakeholders,” said Krishnan.
TMB, a renowned old private sector bank with headquarters in Thoothukudi has a long cherished history of 100+ years of eventful existence with strong fundamentals and an enviable track record of continuous profit-making in the industry. TMB has 509 branches and 12 regional offices across 16 states and four Union Territories serving more than 5 million customers.