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Madurai, Dec. 18

The Tuticorin-based Tamilnad Mercantile Bank has opened its 198th and fully computerised branch at Rasipuram in Namakkal district. Speaking on the occasion, Mr G. Narayana Moorthy, Managing Director and CEO, said the bank has been focusing more on education loans and a sum of Rs 22.56 crore has been sanctioned to 2,498 beneficiaries. The bank hopes to increase the same to Rs 50 crore before March 2009. The bank has also been playing a major role in sanctioning advances to self-help groups and the outstanding at present stood at Rs 27.13 crore comprising of 2,604 groups, he added.

— Our Correspondent

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