Thoothukudi, Nov 12: Highlighting the importance of accessible finance in driving business growth and employment generation, Vice President C. P. Radhakrishnan has urged Tamilnad Mercantile Bank (TMB) to expand its national presence and strengthen lending support for micro, small and medium enterprises (MSMEs), farmers, entrepreneurs and women-led businesses.
Addressing the bank’s 105th Foundation Day celebrations in Thoothukudi on Tuesday, the Vice President emphasised the banking sector’s responsibility in supporting India’s economic development through inclusive financial services, responsible lending and technological innovation. He also encouraged the bank to strengthen its position in India’s private banking sector while contributing to the vision of Viksit Bharat @2047.
Congratulating TMB on completing 105 years, Radhakrishnan said the bank’s journey reflects its longstanding commitment to customer trust, service and financial inclusion.
Established in 1921 as Nadar Bank Limited, Tamilnad Mercantile Bank has grown into a prominent private sector bank with 632 branches across 17 states and four Union Territories. It serves more than 53 lakh customers and has recorded total business exceeding ₹1.30 lakh crore.
The Vice President stressed that banks must ensure timely and affordable credit for MSMEs, farmers, small traders, entrepreneurs, women-led enterprises and larger businesses. Better access to finance can help small businesses expand operations, invest in modern technology, improve productivity and generate employment.
He also highlighted the transformation of India’s banking sector through digital services and the growing adoption of the Unified Payments Interface (UPI). While acknowledging the benefits of digital banking, he underlined the need for stronger cybersecurity systems to safeguard customers, financial transactions and sensitive information.
Encouraging the bank to pursue national expansion, Radhakrishnan emphasised the importance of retaining its strong regional identity and connection with Thoothukudi, where it began its journey.
He expressed confidence that Tamilnad Mercantile Bank would continue to strengthen its position in the banking sector and contribute to India’s economic progress through wider financial inclusion, business financing and secure digital banking.
Tamil Nadu Governor Rajendra Vishwanath Arlekar, TMB Part-Time Chairman K. Ramachandran, Managing Director and CEO Salee S. Nair, Executive Director Vincent Menachery, board members and senior officials attended the Foundation Day celebrations.
