Question
Recently Reserve Bank of India (RBI) has lifted its
three-year ban from which Mercantile Bank on opening new branches with effect from October 21, 2022.Solution
Reserve Bank of India (RBI) has lifted its three-year ban from Tamilnad Mercantile Bank (TMB) on opening new branches by the Thoothukudi-based bank with effect from October 21. At present, it has 509 branches -- 106 rural, 247 semi-urban, 80 urban and 76 in metropolitan. RBI Headquarters: Mumbai Governor: Shaktikanta Das 4 Deputy Governors: T. Rabi Sankar, MK Jain, MD Patra, M Rajeshwar Rao Tamilnad Mercantile Bank Limited Headquarters: Thoothukudi CEO: K V Rama Moorthy
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