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"
Showing posts with label madurai bank. Show all posts
Showing posts with label madurai bank. Show all posts
Monday, March 5, 2007
Tech World
The tier-two cities in Tamil Nadu are fast emerging as new IT destinations, with a number of projects aimed at attracting IT investment nearing completion in cities like Madurai, Coimbatore and Trichy.
Initiatives have already been taken up to set up an information technology park in Coimbatore on the lines of Chennai's Tidal Park. Similarly, the Electronics Corporation of Tamil Nadu (Elcot) is setting up two IT parks in Madurai and Trichy, which are expected to get the status of special economic zones.
In Trichy, about 135 acres of government land had been transferred to Elcot for the purpose of establishing IT parks. Sources in Elcot told Business Standard that the corporation had acquired 135.04 acres at Navalpattu on the outskirts of the city, where it would set up an IT park soon. The corporation has submitted a proposal to the government to declare the park as a special economic zone for IT and IT-enabled services. Elcot plans to construct a built-up area of about one million square feet.
Navalpattu, situated on the Trichy-Pudukkottai highway, was chosen for the project considering its proximity to the Trichy International Airport. Elcot is looking at the possibility of acquiring more land near the site for future"
Initiatives have already been taken up to set up an information technology park in Coimbatore on the lines of Chennai's Tidal Park. Similarly, the Electronics Corporation of Tamil Nadu (Elcot) is setting up two IT parks in Madurai and Trichy, which are expected to get the status of special economic zones.
In Trichy, about 135 acres of government land had been transferred to Elcot for the purpose of establishing IT parks. Sources in Elcot told Business Standard that the corporation had acquired 135.04 acres at Navalpattu on the outskirts of the city, where it would set up an IT park soon. The corporation has submitted a proposal to the government to declare the park as a special economic zone for IT and IT-enabled services. Elcot plans to construct a built-up area of about one million square feet.
Navalpattu, situated on the Trichy-Pudukkottai highway, was chosen for the project considering its proximity to the Trichy International Airport. Elcot is looking at the possibility of acquiring more land near the site for future"
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