Recent events
Recent events tied to this brand in public sources.
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2021
Tamilnad Mercantile Bank rolls out centennial initiatives, including doorstep banking
Tamilnad Mercantile Bank rolled out centennial initiatives, including doorstep banking services for customers. The bank also said it was launching a mobile digital lobby and a mobile vaccination drive as part of the celebrations.
2021
RBI fines Tamilnad Mercantile Bank
The Reserve Bank of India imposed a Rs 1 crore penalty on Tamilnad Mercantile Bank for non-compliance with provisions of its directions on the Cyber Security Framework in Banks.
2020
ED imposes penalties on Standard Chartered Bank and Tamilnad Mercantile Bank
India’s Enforcement Directorate said its Adjudicating Authority fined Standard Chartered Bank Rs 100 crore and Tamilnad Mercantile Bank Rs 17 crore under the Foreign Exchange Management Act. The report says Standard Chartered was held guilty of contraventions involving an escrow account, deposits and shares, while TMB was penalized over recording share transfers without the required approvals.
2020
Standard Chartered fined in India over foreign-exchange violations
India’s anti-money laundering agency fined Standard Chartered 1 billion rupees for foreign-exchange rule violations connected to its work on the 2007 takeover of Tamilnad Mercantile Bank. The bank confirmed receipt of the order and said it was evaluating it.
2020
India's enforcement agency fines Standard Chartered 1 billion rupees
India's anti-money laundering agency fined Standard Chartered Plc 1 billion rupees for violating foreign exchange rules in connection with work on a 2007 investment in Tamilnad Mercantile Bank. The bank confirmed receipt of the order and said it was evaluating it.