Tuticorin: The Tamilnad Mercantile Bank Limited has inaugurated its 189th branch at Nandyal in Andhra Pradesh recently. It is the bank’s 12th branch in that State.
The branch was opened by G.V. Subramanyam of Gelivi Industries Group in the presence of the Chief Executive Officer and Managing Director of the bank, G. Narayana Moorthy, and the directors, B. Ramachandra Adityan and V. Bhaskaran.
Mr. Moorthy said that the bank plans to increase the overall number of branches to 200 before November 30. The number of branches in Andhra Pradesh would touch 15 during that period, he said.
The bank had given loans to the tune of Rs 12.79 crore to 1,781 self-help groups to help the economically backward sections.
Similarly, educational loans to the tune of of Rs. 16.86 crore were given to 1,582 students so far.
Loans were sanctioned to 75 educational institutions to build classrooms, libraries, hostels and laboratories. The bank plans to introduce online share trading shortly, he added.
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