Madurai, Feb. 3 (PTI): The Tamilnad Mercantile Bank Ltd today said it plans to double its current turnover from 10,500 crores to Rs 21,000 crores in three years and introduce internet banking facilities by the beginning of next fiscal.
TMB Managing Director G Narayana Moorthy told reporters here that negotiations were in the final stages for buying software for the Internet banking facility. The bank was also ready to introduce the cheque truncation facility, with the necessary hardware and software, he said.
'Cheque Truncation, introduced as a pilot scheme in all bank branches in Delhi, will help in instant clearing of cheques and will be introduced from April after a trial run,' he said.
Under the scheme, an image of the cheque would be sent to Delhi, where the computer would recognise and clear it.
He claimed that TMB was the only private bank to enter into Bilateral Key Arrangements (BKA) with 650 banks. This would help exporters in LC opening and advising and confirming transfer of money at a faster pace, Naryaana Moorthy said.
TMB was negotiating with General Insurance companies to provide mediclaim facility to depositors and creditors. If the premium was low, TMB would absorb it and if high, collect the amounts from customers. They also planned to provide insurance facilitie"
No comments:
Post a Comment