TMB Full Form

What is the Full Form of TMB?

TMB is an abbreviation for Tamilnad Mercantile Bank Limited. Its headquarters are at Thoothukudi, Tamil Nadu, India. TMB was formed in 1921 as Nadar Bank, but in November 1962, it was renamed Tamilnad Mercantile Bank to expand its influence outside the Nadar community. TMB has tie-up arrangements with the Industrial Development Bank of India (IDBI) Bank in 136 locations and the Housing Development Finance Corporation Limited (HDFC) Bank in 531 locations. TMB was consistently regarded as the fastest growing Private Sector Bank from 2010 to 2015. Due to its rapid expansion, it was named the Best Bank in 2013, 2014, and 2015. It did 616 billion rupees in transactions in 2018 and 2019. The bank's anticipated expenditure for the fiscal year is to attain 600 billion rupees in business, establish 24 branches, and grow automated teller machines (ATMs) to 1151. The bank was named the Lokmat Banking, Financial Services and Insurance (BFSI) Best Private Sector Bank for 2014-15.

History Of TMB

• The framework of TMB goes back to 1921.

• The idea of establishing a bank for the Nadar business sector was initially proposed during the Nadar Mahajana Sangam's annual general meeting in Thoothukudi in 1920.

• AMM Sinnamani Nadar took over as president in 1921, and it was an instrumental step in the bank's growth. AMM Sinnamani Nadar also made an effort to acknowledge other TMB founders.

• On May 11 1921, the firm was licenced as Nadar Bank Limited under the Indian Companies Act 1913.

• M.V. Shanmugavel Nadar was named the first chairman on November 4, 1921.

• T.V.Balagurusamy Nadar opened the bank on November 11 1921, in the Ana Mavanna Building on South Raja Street, Thoothukudi.

• Nadar Bank established its first bank branch in Sri Lanka in 1937, it closed in 1939.

• By 1947, the bank only had four branches: Madurai, Thoothukudi, Sivakasi, and Virudhunagar.

• The bank opened its first branch outside of Tamil Nadu state in Bengaluru in 1976.

• The first fully computerised subsidiary was established on December 9, 1984, at WGC Lane in Thoothukudi.

• The bank launched its ATM card on November 11, 2003.

Headquarters

TMB is a Tamil Nadu-based Indian bank having its headquarters in Thoothukudi. Tamilnad Mercantile Bank Limited is one of the most prominent scheduled commercial banks in South India. According to Basel II requirements, the bank has one of the finest financial positions and a very high Capital Adequacy Ratio (CAR). TMB has 14 state and five union territory sites. As of March 31, 2015, the bank has 430 branches and 880 ATMs.

Activities and Functions

TMB's activities are broad since it offers a wide range of personal, business, and international banking services.

• Its deposit account and loan services include savings accounts, current accounts, home loans, automobile loans, school loans, two-wheeler loans, and personal loans, to name a few.

• The bank also offers investment and card services such as fixed deposits, recurring deposits, credit cards, and debit cards.

• TMB's short message service (SMS) banking service allows customers to get SMS alerts for any transactions in their accounts on their mobile phones.

• TMB mobile banking allows customers to access their bank accounts and complete all essential transactions using their mobile phones.

• TMB net banking allows customers to check account balances, transfer payments, pay bills online, recharge mobile phones, and much more.

• Account holders may also contact TMB customer support for rapid resolution of problems and issues and answers to their queries.