Tamilnad Mercantile Bank Limited has announced the appointment of Thiru Visvanathan Srinivasan as Additional Director by the Reserve Bank of India. The appointment comes under the provisions of Section 36AB of the Banking Regulation Act, 1949, as communicated through RBI's order dated December 19, 2025.

Appointment Details

The key details of the directorial appointment are outlined below:

Professional Background

Visvanathan Srinivasan brings extensive banking expertise to his new role. He holds a graduate degree in Mathematics, a post-graduate degree in Business Administration, and is a Certified Associate of the Indian Institute of Bankers. Additionally, he has completed a PG Diploma in Software Technology from a Government of India research institution.

With 36 years of experience at the Reserve Bank of India, Srinivasan currently manages oversight of non-bank payment system operators, including payment aggregators and prepaid payment issuers under Chennai office jurisdiction. He also manages the national clearing house for paper-based instruments under the Cheque Truncation System.

Notable Achievements and Experience

Srinivasan's career highlights include:

• Previous directorship at a Karnataka-based Regional Rural Bank
• Membership in international committees and internal committees of RBI
• Gold Medal recipient as part of the team for 24x7 implementation of Real Time Gross Settlement System

Committee Responsibilities

As Additional Director, Srinivasan will serve as a member of the following board committees:

• Audit Committee of the Board
• Special Committee of the Board for Monitoring and Follow-up of Cases of Frauds
• NPA Monitoring Committee of the Board

Regulatory Compliance

Tamilnad Mercantile Bank has confirmed that Visvanathan Srinivasan is not related to any of the existing Directors or Key Managerial Personnel of the bank. In compliance with Stock Exchange Circular dated June 20, 2018, the bank has also confirmed that he is not debarred from holding the office of Director by virtue of any SEBI order or any other authority.

The appointment notification was filed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring full regulatory compliance and transparency in the directorial change.

Tamilnad Mercantile Bank (TMB) has announced another significant reduction in its lending rates, cutting the Repo Linked Lending Rate (RLLR) by 25 basis points to 8.25% from the existing 8.50%, effective December 20, 2025. This marks the second major rate adjustment by the bank this year, reinforcing its commitment to making credit more affordable for borrowers.

Latest RLLR Revision

The bank has informed both the National Stock Exchange of India Ltd and the Bombay Stock Exchange Limited about this rate revision under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The new RLLR of 8.25% represents a substantial reduction that could benefit existing and prospective borrowers with repo-linked loans.

Year of Rate Reductions

This latest RLLR cut follows TMB's earlier rate reductions implemented in March 2025, when the bank reduced both its MCLR and RLLR. The March adjustments included a 15 basis points cut in the one-year MCLR from 9.75% to 9.60%, and a 20 basis points reduction in RLLR from 9.45% to 9.25%. The current revision further reduces the RLLR to 8.25%, demonstrating the bank's continued focus on competitive pricing.

Impact on Borrowers

The 25 basis points reduction in RLLR is expected to provide significant relief to TMB customers:

• Existing Repo-Linked Borrowers: Customers with floating rate loans linked to RLLR will benefit from lower interest rates upon their next reset cycle
• New Loan Applicants: Prospective borrowers seeking repo-linked loans will enjoy more competitive interest rates
• EMI Benefits: The rate reduction could translate to lower monthly installments for eligible borrowers, improving their cash flow

Regulatory Compliance and Market Positioning

TMB has maintained full regulatory compliance by promptly notifying the stock exchanges about this rate revision. The bank's proactive approach to rate adjustments positions it competitively in the banking sector, particularly as financial institutions navigate evolving market conditions and customer expectations.

With two significant rate reduction cycles in 2025, Tamilnad Mercantile Bank is demonstrating its commitment to supporting borrowers while maintaining its competitive edge in the lending market. Customers are advised to contact the bank directly to understand how these favorable rate changes might impact their specific loan arrangements.