Nirmala Sitharaman launches TMB centenary fete

Union Finance Minister Nirmala Sitharaman on Sunday inaugurated the centenary celebrations of the Tamil Nadu Mercantile Bank (TMB) in Thoothukudi district .

During the event, she flagged off Mobile Digilobby Vehicle with ATM and Mobile Vaccination Bank “Aarogya India” to create awareness about the need for Covid-19 vaccination for Thoothukudi district.

She also released a special commemorative postal stamp and post card to commemorate 100 years of the  establishment of the TMB and visited the stalls of MSME beneficiaries of various credit related schemes like
Pradhan Mantri Mudra Yojana, ECLGS etc.

Speaking on the occasion, Ms Nirmala said TMB has set an example for Tamil Nadu banking sector.

There were a lot of limitations in this sector. There were small issues that had huge impact on banking sector. Even before 2014, larger banks could not sustain because of huge NPA and the government had to allot growth finance,
she said.

Stating that banks had to focus all their energies on NPA recovery, she said since 2014 the banking sector had been facing many issues.

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