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Our Correspondent

Madurai, July 31 Tuticorin-based Tamilnadu Mercantile Bank (TMB) has opened its 187th branch at Ranipet.

Speaking on the occasion, Mr G. Narayana Moorthy, Managing Director and CEO of TMB, said the bank had been giving more thrust to SME advances and novel schemes have been designed to help them start new ventures and to develop existing ventures under ‘TMB SME’ scheme. A sum of Rs 63 crore has been extended under the scheme to 666 enterprises. Further, the bank has tied up with SIDBI’s Credit Guarantee Trust for Small Industries and customers can avail themselves of hassle free SME loan, he said.

The bank will be opening 10 more branches in Tamil Nadu and one each in Gujarat and Andhra Pradesh before November, he added.

More Stories on : Private Banks | Tamil Nadu

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