Vice President C. P. Radhakrishnan on Tuesday attended the 105th Foundation Day celebrations of Tamilnad Mercantile Bank (TMB) in Thoothukudi and urged the lender to aspire to become one of India’s leading private sector banks in the coming years.
Congratulating the bank on completing 105 years, the Vice President recalled its establishment in 1921 as Nadar Bank Limited and lauded its contribution to the country’s banking sector.
He noted that the bank had grown from modest beginnings into a major financial institution with 632 branches across 17 States and four Union Territories. It serves more than 53 lakh customers and has recorded total business of over Rs 1.30 lakh crore, he said.
Highlighting the role of banks in nation-building, Radhakrishnan stressed the need for responsible lending and adequate financial support for micro, small and medium enterprises (MSMEs), farmers, small traders, entrepreneurs, women-led businesses and corporates.
He said India’s economic progress and the vision of Viksit Bharat @2047 would depend, in part, on a strong banking sector. He also highlighted the transformation brought about by digital banking and the Unified Payments Interface (UPI), along with the expansion of financial inclusion that has brought more people into the formal banking system.
Commending TMB’s recent performance and technological progress, the Vice President called on the bank to strengthen cybersecurity measures and protect customers’ money and personal data while continuing to embrace innovation.
He also emphasised that the bank should remain rooted in Thoothukudi, where it originated, even as it expands its presence across the country.
Expressing confidence in the bank’s future, Radhakrishnan said TMB could scale greater heights and establish itself among India’s leading private sector banks.
Tamil Nadu Governor Rajendra Vishwanath Arlekar, TMB Part-Time Chairman K. Ramachandran, Managing Director and CEO Salee S. Nair, Executive Director Vincent Menachery, members of the board and senior officials attended the event.
-PIB
