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Madurai, Aug. 6

Tamilnad Mercantile Bank (TMB) is setting up a separate overseas credit cell to ensure expedite quick delivery of credit to exporters. The cell, to be headed by an Assistant General Manager is being set up at the head office with the aim to double the clientele base in forex business, according to Mr G. Narayana Moorthy, Managing Director and Chief Executive Officer of the Bank.

The bank would be able to surpass the target of Rs 6,200 crore in forex merchant turnover before March 2009, he said while speaking at a conference on foreign exchange business of 29 authorised branches of TMB, held at Chennai recently. –

Our Correspondent

More Stories on : Forex | Private Banks

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