TMB's 80th anniversary

By Our Staff Reporter

TUTICORIN, NOV. 9. Even as the Tamilnad Mercantile Bank (TMB), is all set to celebrate its 80th anniversary on November 11, its chairman, Mr. S. Krishnamurthy, has said that the bank's vision was to achieve a business volume of Rs.6,000 crores by March 31, 2002, besides emerging as a progressive and modern bank in the industry.

Mr. Krishnamurthy told newsmen here today that a function would be held in the port town on Sunday as part of the anniversary fete. Among others, former RBI Governor, Mr. S. Venkitaramanan, Secretary to Government, Union Ministry of Finance, Dr. S. Narayanan, Secretary to Government, Department of Science and Technology, Prof. V. S. Ramamurthy, and Executive Director, RBI, Mr. Mohammed Tahir, would participate in the function.

Highlighting the performance of the TMB on the occasion, he said that the bank, opened with a small capital of Rs.5 lakhs, had an ``impeccable record of having a networth of Rs.276 crores as on March 31 last, making it a strong and sound bank.''

Though the TMB was having only four branches in 1947, now it had expanded into 160 fullfledged branches all over the country, besides having six regional offices, 14 extension counters and industrial finance branches at 3 centres. The RBI has permitted the bank to open 11 more branches.

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Section  : Business
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