Doorstep banking, Covid-19 campaign, Tamilnad Mercantile Bank introduces initiatives on its 100th anniversary

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Marking its 1ooth year anniversary, Tamilnad Mercantile Bank introduced several initiatives like doorstep banking services for the convenience of customers as well as the Covid-19 vaccination campaign. Launching a postal stamp and a specialised ‘postal card’, the finance minister Nirmala Sitharaman initiated the 100th year anniversary celebrations of the bank in Tuticorin. K V Rama Moorthy, managing director and CEO of the bank said that the bank has stood for a very long time and seen some of the most important historical events like independence, emergency situation and liberalization of the economy.

In a press release, Moorthy said that the bank has disbursed Rs 1,567.62 crore and covered 13,753 beneficiaries to help borrowers during the Covid-19 outbreak. The bank is also among the first ones to introduce robotics in currency chest to sort and bundle currencies.

“We are kick-starting multiple initiatives, starting with a special postage stamp and postal cards, as part of our Centenary celebrations. TMB Mobile DigiLobby and a Mobile Vaccination Drive to help our communities have also been launched,” Moorthy said.

He said that the bank will focus on the distribution of loans to the pharma and healthcare sector. This will form the core essence of its new services that are being introduced. Tamil Nadu based TMB has over 509 branches across the country.