Tamilnad Mercantile Bank (TMB), a prominent player in the Indian banking sector, has successfully concluded its postal ballot process with shareholders approving key corporate governance resolutions through remote e-voting.

Postal Ballot Results Declaration

On December 29, 2025, TMB officially declared the results of its postal ballot process to the stock exchanges. The bank informed both NSE and BSE that all resolutions outlined in the postal ballot notice dated November 19, 2025, have been passed by shareholders with the requisite majority.

The resolutions were deemed passed on December 28, 2025, marking the successful conclusion of the remote e-voting period that began on November 29, 2025.

Key Approved Resolutions

Shareholders approved two significant corporate governance matters:

Director Appointments

The appointment of two Non-Executive Non-Independent Directors received shareholder approval:

Articles of Association Amendments

Shareholders also approved amendments to the bank's Articles of Association, aimed at aligning the governance structure with current regulatory requirements and ensuring compliance with banking and corporate governance norms.

E-voting Process Details

The bank successfully conducted the voting process through remote e-voting mechanism:

Regulatory Compliance

The results declaration was made in compliance with Regulation 44(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary and Compliance Officer Swapnil Yelgaonkar signed the official communication to the exchanges, ensuring proper regulatory adherence.

Financial Foundation

These governance changes come at a time when TMB has demonstrated solid financial performance. The bank's recent financial metrics show:

The successful completion of this postal ballot process strengthens TMB's governance framework and positions the bank for continued growth. The approval of new directors and updated Articles of Association demonstrates shareholder confidence in the bank's strategic direction and commitment to maintaining high corporate governance standards.

Tamilnad Mercantile Bank has successfully launched an online collection facility for Employees' Provident Fund (EPF) payments through its Internet Banking platform. The facility features direct integration between the EPFO portal and TMB's Internet Banking application, marking an important milestone in the bank's digital transformation journey.

Launch Event and Key Attendees

The facility was formally launched at a function presided over by TMB's Executive Director, Shri Vincent Menachery Devassy. The event was graced by Chief Guest Smt. Kavitha N. George, Additional Central PF Commissioner, Chennai. Senior officials from the Employees' Provident Fund Organisation (EPFO), Delhi, including Shri A.K. Paliwal, Regional Provident Fund Commissioner, and Shri Kapil Anand, Accounts Officer, attended the event virtually along with senior TMB executives.

Key Features and Benefits

The new online EPF payment facility enables specific customer segments to remit EPF contributions digitally:

With this facility, eligible customers can remit EPF contributions, including monthly salary deductions of employees, directly through TMB Internet Banking without the need to visit bank branches. This digital solution addresses the needs of TMB account holders who were previously making EPF payments through other banks.

Strategic Digital Expansion

Executive Director Shri Vincent Menachery Devassy highlighted that TMB has already implemented online payment facilities for CBDT, GST, and ICEGATE. The addition of EPF payments further strengthens the bank's digital offerings and demonstrates its commitment to enhancing customer convenience through digital integration.

The bank plans to actively popularise this facility among customers and focus on increasing the number of EPF payments routed through TMB's platform.

Industry Impact and Future Outlook

Chief Guest Smt. Kavitha N. George emphasized the facility's benefits for TMB customers and highlighted the need to educate customers on using this digital facility. She stressed the importance of popularising EPF payment adoption among MSME customers, enabling more enterprises to remit EPF contributions for their employees through TMB Internet Banking.

About Tamilnad Mercantile Bank

Tamilnad Mercantile Bank Limited is one of the renowned Old Private Sector Banks with headquarters in Thoothukudi, Tamil Nadu. The bank has a history of over 100 years with strong fundamentals and a track record of continuous profit making in the industry. TMB maintains a Pan India presence with 601 branches and 12 Regional Offices across 17 states and 4 Union Territories, serving more than 5.30 million customers.