Tamilnad Mercantile Bank (TMB), one of India’s oldest and leading private sector banks, officially commenced its Centenary Celebrations in Thoothukudi, Tamil Nadu. The inaugural ceremony was graced by the Hon’ble Union Minister of Finance & Corporate Affairs, Smt. Nirmala Sitharaman, in the presence of Thiru K. V. Rama Moorthy, MD & CEO, TMB; the Bank’s Board of Directors; Thiru G. Natarajan, I.P.O.S., Postmaster General; along with other government officials, dignitaries, and customers.
Marking the milestone occasion, the Finance Minister launched a commemorative TMB ‘Postal Stamp’ and a specialized ‘Postal Card’. She also flagged off the ‘TMB Mobile DigiLobby’ – a mobile banking vehicle designed to provide doorstep banking services, including cash withdrawals, deposits, and passbook printing. Additionally, she launched a Mobile Vaccination Camp vehicle, a joint initiative by TMB and Times Network, aimed at spreading awareness about the importance of COVID-19 vaccination. On the same day, she also disbursed loans to beneficiaries in the Pharma & Healthcare sectors and under the PM SVANidhi scheme.
In her address, Smt. Nirmala Sitharaman said:
“TMB celebrates 100 years of existence today, and I extend my heartfelt congratulations to everyone associated with this historic institution. This is no small feat—many organizations lose their direction even after decades. TMB has set a strong example for the banking sector in Tamil Nadu.”
She further emphasized the importance of reforms under the Prompt Corrective Action framework and the Government’s efforts in stabilizing the banking sector. Despite industry challenges, TMB has performed admirably, embracing digitization and navigating turbulent times effectively.
She highlighted the role of initiatives like Jan Dhan Yojana in driving financial inclusion, stating:
“The Prime Minister’s vision of a zero-balance account was not merely about banking—it was about empowering every Indian to become financially literate and included. Initiatives like Bank Mitra played a crucial role during COVID-19 in reaching the remotest corners of the country.”
Smt. Sitharaman praised TMB’s commitment to priority sector lending, which accounts for 74% of the bank’s activities, and urged the bank to further embrace digital transformation.
Thiru K. V. Rama Moorthy, MD & CEO of TMB, also addressed the gathering:
“TMB has consistently delivered value to stakeholders for over 99 years. We have witnessed and endured landmark events—India’s Independence, the Emergency, economic liberalization, and the recent pandemic. Through it all, we have remained resilient.”
He added that to help borrowers navigate the impact of the COVID-19 crisis, TMB has supported 13,753 beneficiaries with total credit exposure of ₹1,567.62 crore. He also emphasized the bank’s innovation in digital banking:
“TMB was the first bank to introduce robotics in its currency chest for sorting and bundling currency, ensuring high-quality service for customers.”
As part of the centenary celebrations, the bank is launching several initiatives, including:
A special commemorative postage stamp and postal card
The TMB Mobile DigiLobby
A mobile vaccination drive
Focused loan disbursements to pharma and healthcare units
These initiatives are the beginning of a year-long series of events celebrating TMB’s remarkable 100-year journey and commitment to customer service, innovation, and community engagement.
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