Our Correspondent

MADURAI: The Tamilnad Mercantile Bank (TMB) has entered into a tie-up with HDFC Bank to offer TMB-h-DD and TMB-h-Collection facilities, in all HDFC Bank locations.

According to the TMB Deputy General Manager (Business Development), Mr S. Selvan Rajadurai, the initiative will enable TMB to issue at par cheques on HDFC locations and at par collection of all outstation cheques drawn on any bank, at all HDFC bank locations. The collection facility will enable the bank to give quick credits to the customers who give cheques for collection, within a week from date of submission on 84 additional locations. Where TMB has no branch to facilitate the customers' remittances, drawing arrangement has been made for issue of at par cheques on 84 HDFC locations. This will enable the bank's customers to demand draft immediately on HDFC locations.

(This article was published in the Business Line print edition dated January 24, 2005)
XThese are links to The Hindu Business Line suggested by Outbrain, which may or may not be relevant to the other content on this page. You can read Outbrain's privacy and cookie policy here.