Tamilnad Mercantile Bank Limited is 85 years old

The 85th anniversary celebrations of Tuticorin based Tamilnad Mercantile Bank Limited were held with pomp and gaiety here recently.

Commemorating the occasion, the bank disbursed the sanction orders/proceeds of loans worth Rs.273.9 lakh to members of various self-help groups and individuals.Of this, Rs.87.28 lakh was given to 87 self-help groups for different economic activities, Rs.13.27 lakh to 25 beneficiaries covered under Prime Minister's Rozgar Yojana scheme, Rs 6.58 lakh to two students to pursue higher education, Rs.18 lakh to three industrial units classified as Small and Medium Enterprises (SMEs) and Rs.61 lakh to 12 individuals as home loans. P.R. Varatharajan, General Manager, TMBL, said so far, the bank had credit linked 1,409 self-help groups to the tune of Rs.11.43 crore, which included the 87 groups financed at the function. Earlier, TMBL Director, Prem Vetty, inaugurated the 41st ATM of the bank.