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RBI lifts ban on new branches by Tamilnad Mercantile Bank

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The Bank’s shares were listed in the stock exchanges on September 15. At present, it has 509 branches — 106 rural, 247 semi-urban, 80 urban and 76 in metropolitan.

Out of this, only around 40-50 were loss making. There were media reports that indicated that the bank may be looking to add another 100-150 branches in the next 18-24 months, the majority of which will be in states other than Tamil Nadu.

The Apex Bank took the decision to come up with restrictions on the bank reportedly in June 2019.


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