Tamilnad Mercantile Bank has officially announced strategic partnerships with Rugr Fintech and Fin Meadows Technologies to enhance its digital payment infrastructure through advanced UPI solutions, as disclosed in a regulatory filing under SEBI Regulation 30.

Partnership with Rugr Fintech

The bank has engaged Rugr Fintech Private Limited as a referral partner to source RBI-licensed Payment Aggregators for UPI merchant collections. This collaboration leverages TMB's Hosted UPI Switch - TechFini, procured from Fin Meadows Technologies, to deliver secure, scalable, and compliant UPI acquiring infrastructure.

Collaboration with Fin Meadows Technologies

Tamilnad Mercantile Bank has partnered with Fin Meadows Technologies Private Limited as a Technology Service Provider for UPI switching through their TechFini UPI Switch. The partnership enables faster, secure and scalable UPI solutions for payment aggregators, NBFCs, merchants and fintech partners.

Executive Statements

Mr. Salee S. Nair, Managing Director & CEO of TMB, commented: "This collaboration with Rugr FinTech marks another milestone in our digital journey. By combining TMB's trusted banking platform with Rugr's fintech expertise and TechFini's advanced UPI infrastructure, we aim to deliver seamless, secure, and scalable payment solutions to merchants and aggregators across India."

Mr. Arangasamy K.V, Managing Director of Rugr FinTech, added: "We are delighted to partner with TMB to enable RBI-authorized Payment Aggregators with reliable UPI acquiring capabilities. Our focus is on driving transaction success rates and compliance while supporting India's digital payment growth story."

Strategic Impact

The partnerships position TMB to strengthen its digital payment ecosystem by enabling regulated Payment Aggregators and Gateways to route UPI transactions through the bank's platform. The collaboration extends UPI use cases to lending and collections through TechFini's UPI Autopay solution, allowing NBFCs and digital lenders to automate EMI and loan repayments directly from customers' linked bank accounts.

TMB operates with 601 branches and 12 regional offices across 17 states and 4 union territories, serving more than 5.30 million customers with a 100-year operational history in the banking sector.

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.