Tamil Nadu Mercantile Bank
Encyclopedia
Tamilnad Mercantile Bank Limited is a bank head-quartered in Tuticorin in Tamil Nadu
, India
. It is colloquially referred to as TMB. 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. For financial year 2009-2010, the bank reported a net profit of 184.53 crores .
The bank at present has 245 branches spread all over India.
held at Tuticorin in 1920. The proposal was effected soon. The bank was registered on May 11, 1921 as "The Nadar Bank Ltd".
, Madurai
and Sivakasi
. The bank had also a branch at Colombo
in the year 1937 and the same was closed in the year 1939. The bank has now 245 full fledged branches all over India, 7 Regional Offices and 11 Extension Counters, 2 Mobile Banking Branch, 6 Central Processing Centres, 2 Currency Chests and 215 Automated Teller Machines.The first branch outside the State of Tamil Nadu was opened in the year 1976 at Bangalore. The first fully computerized branch was opened at WGC Road, Tuticorin on Dec 09, 1984. The bank had established its first currency chest in 1993 at Madurai
and has the industrial finance branches at Coimbatore
, Chennai
and Secunderabad
. The Bank has launched ATM Card from Nov 11, 2003.
108 locations and HDFC Bank
462 locations gives an effective branch network of 794.
Tamil Nadu
Tamil Nadu is one of the 28 states of India. Its capital and largest city is Chennai. Tamil Nadu lies in the southernmost part of the Indian Peninsula and is bordered by the union territory of Pondicherry, and the states of Kerala, Karnataka, and Andhra Pradesh...
, India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
. It is colloquially referred to as TMB. 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. For financial year 2009-2010, the bank reported a net profit of 184.53 crores .
The bank at present has 245 branches spread all over India.
History
The history of Tamilnad Mercantile Bank Ltd., the then Nadar Bank Ltd., dates back to 1921. The thought of establishing a bank under the guidance of the able Nadar business community was mooted out in the Anniversary of Nadar Mahajana SangamNadar Mahajana Sangam
Nadar Mahajana Sangam was first established ,due to the efforts of RaoBahadur Ratnasamy Nadar, in 1910. There are several schools and colleges under the control of Nadar Mahajana Sangam....
held at Tuticorin in 1920. The proposal was effected soon. The bank was registered on May 11, 1921 as "The Nadar Bank Ltd".
Growth and Development
The bank was having only 4 branches in the year 1947 at Tuticorin, VirudhunagarVirudhunagar
Virudhunagar is a municipality in Virudhunagar district of the South Indian state of Tamil Nadu.In the beginning of 20th century AD, Virudhupatti was one among the six important places of Ramanathapuram District. Due to the rapid growth in the field of Trade and Education, it was renamed as...
, Madurai
Madurai
Madurai is the third largest city in the Indian state of Tamil Nadu and one of the oldest continuously inhabited cities in the world. It served as the capital city of the Pandyan Kingdom. It is the administrative headquarters of Madurai District and is famous for its temples built by Pandyan and...
and Sivakasi
Sivakasi
Sivakasi is an active town and a municipality in Virudhunagar District in the Indian state of Tamil Nadu. It is the capital of India’s firecracker industry with about 8,000 factories, big and small, producing 90 percent of the total fireworks output.It is also known as "kutti japan" meaning "small...
. The bank had also a branch at Colombo
Colombo
Colombo is the largest city of Sri Lanka. It is located on the west coast of the island and adjacent to Sri Jayawardenapura Kotte, the capital of Sri Lanka. Colombo is often referred to as the capital of the country, since Sri Jayawardenapura Kotte is a satellite city of Colombo...
in the year 1937 and the same was closed in the year 1939. The bank has now 245 full fledged branches all over India, 7 Regional Offices and 11 Extension Counters, 2 Mobile Banking Branch, 6 Central Processing Centres, 2 Currency Chests and 215 Automated Teller Machines.The first branch outside the State of Tamil Nadu was opened in the year 1976 at Bangalore. The first fully computerized branch was opened at WGC Road, Tuticorin on Dec 09, 1984. The bank had established its first currency chest in 1993 at Madurai
Madurai
Madurai is the third largest city in the Indian state of Tamil Nadu and one of the oldest continuously inhabited cities in the world. It served as the capital city of the Pandyan Kingdom. It is the administrative headquarters of Madurai District and is famous for its temples built by Pandyan and...
and has the industrial finance branches at Coimbatore
Coimbatore
Coimbatore , also known as Kovai , is the second largest city in the Indian state of Tamil Nadu. It is a major commercial centre in Tamil Nadu and is known as the "Manchester of South India"....
, Chennai
Chennai
Chennai , formerly known as Madras or Madarasapatinam , is the capital city of the Indian state of Tamil Nadu, located on the Coromandel Coast off the Bay of Bengal. Chennai is the fourth most populous metropolitan area and the sixth most populous city in India...
and Secunderabad
Secunderabad
Secunderabad popularly known as the twin city of Hyderabad is located in the Indian state of Andhra Pradesh north of Hyderabad. Named after Sikandar Jah, the third Nizam of the Asaf Jahi dynasty, Secunderabad was founded in 1806 AD as a British cantonment...
. The Bank has launched ATM Card from Nov 11, 2003.
Branch Sharing Tie Up
TMB have tie-up arrangements with IDBI BankIDBI Bank
The IDBI Bank Limited is one of India's leading public sector banks and 4th largest Bank in overall ratings. RBI categorised IDBI as an "other public sector bank". It was established in 1964 by an Act of Parliament to provide credit and other facilities for the development of the fledgling Indian...
108 locations and HDFC Bank
HDFC Bank
HDFC Bank Limited is a major Indian financial services company based in India, incorporated in August 1994, after the Reserve Bank of India allowed establishing private sector banks. The Bank was promoted by the Housing Development Finance Corporation, a premier housing finance company of India...
462 locations gives an effective branch network of 794.