KYC Policy - Abridged
Understand the simplified guidelines for customer identification and verification
Statutory Auditor Policy
Guidelines for appointing Statutory Central Auditors as per regulatory norms
Customer Compensation Policy
Details of compensation offered for service shortcomings and transactional issues
Customer Grievances Redressal Policy
Structured process for lodging, tracking, and resolving customer complaints effectively
Citizen Charter
We at Tamilnad Mercantile Bank Ltd always endeavour to make your banking with us a pleasant experience. We have a strong belief that a satisfied customer is our ambassador in developing our business. In order to become more customer friendly the Bank has decided to come out with a Charter for the benefit of our customers.
This Charter contains our commitment and responsibilities along with the redressal methods. It also specifies the obligation on the part of customers for healthy practices in customer - banker relationship.
This is not a legal document creating rights and obligations. The “Charter” has been prepared to promote fair banking practices and to give information in respect of various activities relating to customer service. All our customers are requested to keep us informed of their experiences about the various services rendered by the Bank and feel free to send your observations.
Our KYC Policy covers :
- Introduction.
- Our Commitment and Responsibilities.
- Common Practices Followed by our Branches.
- Safeguards.
- Advances - Lending Schemes.
- Remittance Services.
- Money Transfer Service - Western Union.
- Collection Services - Immediate Credit of Outstation Cheques.
- Foreign Exchange Business.
- NRI Accounts.
- ATM / Credit Card Facility.
- TMB e-Transfer.
- RTGS Scheme.
- Misc. / Ancillary Services - Safe Deposit Lockers.
- Depository Services.
- Nomination.
- Service charges.
- Time - Norms for Various Banking Transactions.
- Redressal of Complaints.
- Anonymous complaints will not be entertained by the bank.
- Mutual Fund.
- Information given in this document is subject to change / revision. This document should not be considered as a legal document creating rights and obligations. It is for promoting better understanding between Customer and Banker. Only key information on various services / facilities is given in this document. Each service has its own detailed terms and conditions which can be made available on request. For further details / information visit or write to our branch offices or visit our website www.tmb.in.
Credit Monitoring Policy
Guidelines to ensure robust credit oversight, monitoring, and compliance
Corporate Social Responsibility Policy
TMB's vision and responsibilities toward sustainable social development
Deposits Policy
This deposits policy document on deposit accounts outlines the guiding principles in respect of formulation of various deposit products offered by the Tamilnad Mercantile Bank Ltd and terms and conditions governing the conduct of such deposit accounts.
This document recognises the rights of depositors and aims at dissemination of information with regard to various aspects of acceptance of deposits from the members of the public, conduct and operations of various deposits accounts, payment of interest on various deposit accounts, closure of deposit accounts, method of disposal of deposits of deceased depositors, etc., for the benefit of customers. It is expected that this document will impart greater transparency in dealing with the individual customers and create awareness among customers of their rights. The ultimate objective is that the customer will get services they are rightfully entitled to receive without demand.
While adopting this policy, the bank reiterates its commitments to individual customers outlined in Banker’s Fair Practice Code of Indian Bank’s Association. This document is a broad framework under which the rights of common depositors are recognized. Detailed operational instructions on various deposit schemes and related services will be issued from time to time.
Information published in the Deposit Policy Document
- Know Your Customer (KYC) Guidelines.
- Types of Deposit Accounts.
- Account Opening and Operation of Deposit Accounts.
- Interest Payments.
- Minor’s Accounts.
- Accounts of Illiterate / Blind Person.
- Addition / Deletion of Joint Account Holders.
- Customer Information.
- Secrecy of Customer Accounts.
- Changing the account.
- Intimation before maturity date.
- Payment of fixed deposits on due date.
- Renewal of Term deposits.
- Repayment of Term/Fixed Deposits.
- Payment of interest on accounts frozen by branches.
- Premature Withdrawal of Term Deposit.
- Premature Renewal of Term Deposit.
- Renewal of Overdue Term Deposit.
- Advances against Deposits.
- Settlement of Dues in Deceased Deposit Account.
- Interest Payable on Term Deposit in Deceased Account.
- Insurance Cover for Deposits.
- Stop Payment Facility.
- Dormant Accounts.
- Closure/freezing of the Account.
- Closure of the account requested by the customer.
- Accounts of Physically Impaired Person.
- Accounts of Visually Impaired Person.
- Redressal of Complaints and Grievances.
- Regulatory Inclusion.
Fair Practices Code
In order to set out Fair Lending Practices in a transparent manner, Tamilnad Mercantile Bank Ltd has decided on the standard rules governing the Standard Lenders’s Fair Practices Code Framework for the benefit of all our customers.
Information published in the Document :
- Applications for loans and their processing.
- Loan appraisal and terms / conditions.
- Disbursement of Loans including changes in terms and conditions.
- Post disbursement supervision.
- General Information.
- Grievance Redressal Mechanism
Responsible Lending Conduct - Release of Moveable / Immovable Property documents on Repayment / settlement of personal loans
Download policy
NPS Grievances Redressal Policy
Mechanism for addressing complaints related to the National Financial Switch network
Processing Charges
Learn more about the complete schedule of proposal processing charges.
Find below the complete table showing the various proposal processing charges chargeable by the bank with effect from Oct 01, 2011.
Revision in Proposal Processing Charges:
We have revised the proposal processing charges for our entire range of loan products applicable with effect from Oct 01, 2011. Download Proposal Processing Charges
Note : Goods & Service Tax (GST) as applicable at prevailing rates. The above charges are with effect from Oct 01, 2011 and subject to revision from time to time, but any such revisions will be published atleast 30 days in advance.
RBI Notice / Guidelines
Reserve Bank of India is the central banking institute and banking regulator in India. The complete banking eco-system is very well regulated and all banking institutes including TMB adhere to the rules and norms framed from time to time. Following are some of the important links on RBI Site for quick reference.
Beware of Fictitious Offers
TMB hereby cautions the general public against fictitious offers of cheap funds, remittance in lottery or message on winning lottery etc and advises the General Public to complain to Local Police / Cyber Crime authorities against such fictitious offers of whatsoever nature. Don’t furnish your account details or Password to anyone. TMB is not responsible for recovering moneys remitted / siphoned in furtherance of such bogus communication / offers from unknown entities.
Important Links / Alerts / Notices / Guidelines from RBI:
Guidelines from RBI
| Type | Link |
|---|---|
| Official Web Site | |
| Reserve Bank of India | https://www.rbi.org.in |
| Alerts / Nodal Agencies | |
| List of Nodal Agencies for Filing Complaints | nodal_agencies_list_01.pdf |
| Notice / Guidelines | |
| Validity of Cheque / DD / PO / BC | |
| Above Links subject to change without notice. Please visit the official website of RBI for latest updated links and contents. |
SEBI Guidelines
Our bank is a member of National Securities Depository Ltd. and is offering demat account services in association with NSDL. Find here the important Circulars issued by SEBI for our customers in relation with our NSDL Membership.
Redressal of investor grievances against Depository Participants
Service Charges
Schedule of charges applicable to various banking products and services
Cheque Collection Policy
Timelines, responsibilities, and procedures for clearing customer cheques
Customer Rights Policy
Guidelines protecting customer rights to fair service, transparency, and privacy
Continuity Banking Services
Business continuity protocols to ensure uninterrupted banking operations.
This document lists the alternate modes for Continuity of Banking Services for Handling Government Business during Calamity, Strike or other Disruptions at Bank Branch.
All members of the public are requested to use these alternate channels in case of any service disruptions at our Bank / Branch in handling the Government Business.
Credit Card Policy
Framework governing issuance, usage, billing, and security of TMB credit cards
Policy on Settlement of Claims on Death
Simplified process for settlement of claims to legal heirs or nominees
Return of Original Movable/Immovable Property Documents
Guidelines for releasing collateral documents upon loan closure
Disclaimers & Terms of Use
Legal terms governing website usage, content, and service access
- Legal terms governing website usage, content, and service access
- All material provided in this site are for the purpose of information only. While all efforts have been taken to ensure accuracy of the information, anyone who acts on the basis of the information provided will have to exercise caution and judgement while acting on the basis of the information provided. TMB cannot be held responsible for inaccuracies, if any, in the information provided.
- While all procedures and tips provided are expected to convey general information, they may not be exhaustive or complete in all respects. The actual procedures / documents to be submitted may vary.
- All material provided in this site are subject to Indian laws as prevailing from time to time and shall not be applicable to any countries / regions where any of the material provided herein is prohibited or ineffective.
- Tamilnad Mercantile Bank Ltd. and its affiliates shall not be liable for loss or damage or other inconvenience suffered by anyone as a result of viewing this site or using any information provided in this site or acting based on the suggestions / advise given in this site. This site should be viewed purely as a source of information as to the nature of activities of the companies represented herein and should not be taken to guarantee or warranty the performance of any company or scheme or other activity mentioned herein.
- This web site is intended solely for the use of Resident Indians, Non Resident Indians, persons of Indian Origin, Foreign Institutional Investors registered with Securities and Exchange Board of India. It should not be regarded as a solicitation for business in any jurisdiction other than India. The information provided on this site is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject Tamilnad Mercantile Bank Ltd. or its affiliates to any registration requirement within such jurisdiction or country. The information does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction where such activity is prohibited. Any person resident outside India who nevertheless intends to respond to this material must first satisfy himself / herself that he / she is not subject to any local requirements which restricts or prohibits him / her from so doing.
- Tamilnad Mercantile Bank Ltd. and its affiliates will not be responsible for any loss or damage that could result from interception by third parties of any information made available to you via this site. Neither Tamilnad Mercantile Bank Ltd., nor any of its affiliates, directors, officers or employees, nor any third party vendor will be liable or have any responsibility of any kind for any loss or damage that you incur in the event of any failure or interruption of this site, or resulting from the act or omission of any other party involved in making this site or the data contained therein available to you, or from any other cause relating to your access to, inability to access, or use of the site or these materials, whether or not the circumstances giving rise to such cause may have been within the control of Tamilnad Mercantile Bank Ltd. In no event will Tamilnad Mercantile Bank Ltd., its affiliates or any such parties be liable to you for any direct, special, indirect, consequential, incidental damages or any other damages of any kind even if Tamilnad Mercantile Bank Ltd. or any other party have been advised of the possibility thereof.
Financial Inclusion Programme
TMB has launched the Financial Inclusion Programme (FIP), at Karadipatti Village in the presence of Dr.K.C.Chakrabarty, Deputy Governor, RBI, Mumbai on Jul 30, 2011.
The Villages allotted to our Bank under FIP by the State Level Bankers' Committee (SLBC) as well as the authorized Business Correspondents (BC) for the villages are shown below in the PDF document.
List of Villages allotted under Financial Inclusion Programme
In the allotted villages under Phase - I, 32 villages are covered through BC model and 2 villages through Brick & Mortar model. In the 32 villages BCs were appointed through our service provider. The engaged BCs in the Villages have been provided with Hand Held Device - HHD, by the bank which is enabled with Bio-metric Authentication, Interactive Voice Response [IVR] for voice guidance in Regional language and receipt printing facility.
KYC Guidelines
The objective of KYC guidelines is to prevent our Bank from being used, intentionally or unintentionally, by criminal elements for money laundering activities.
KYC procedures also enable branches to know / understand their customers and their financial dealings better which in turn help them manage their risks prudently.
Our KYC Policy covers :
- Customer Acceptance Policy.
- Customer identification Procedures.
- Monitoring of Transactions and
- Risk Management.
- Statutory Requirements.
- Dissemination of KYC Guidelines.
- Information published in the Document
- Objective.
- Know Your Customer Standards.
- Customer Acceptance Policy (CAP).
- Customer Identification Procedure.
- Monitoring of Transactions.
- Risk Management.
- KYC for the Existing Accounts.
- Appointment of Principal Officer.
- Annexure - Customer Identification Requirements.
- Statutory Requirements & Regulatories.
- Dissemination of KYC Policy.
Information given in this document is subject to change / revision. This document should not be considered as a legal document creating rights and obligations. It is for promoting better understanding between Customer and Banker. Only relevant information on various KYC related issues is given in this document. For further details / information visit or write to our branch offices or visit our website www.tmb.in.
Nomination and Remuneration Policy
Framework for appointment, evaluation, and remuneration of key managerial personnel
Outsourced Service Providers Policy
To enable the bank to offer diverse range of banking services and to aid its vertical growth, the bank outsources some of its activities to third party service providers.
Privacy Policy
In the course of using this website [www.tmb.in] or availing the products and services vide the online application forms and questionnaires, Tamilnad Mercantile Bank Ltd and its Affiliates may become privy to the personal information of its customers, including information that is of a confidential nature.
Tamilnad Mercantile Bank Ltd is strongly committed to protecting the privacy of its customers and has taken all necessary and reasonable measures to protect the confidentiality of the customer information and its transmission through the world wide web and it shall not be held liable for disclosure of the confidential information when in accordance with this Privacy Commitment or in terms of the agreements, if any, with the Customers. All visitor information is collected along with any information that you volunteer as a customer while using Customers using our Tamilnad Mercantile Bank Ltd’s Internet Banking.
Tamilnad Mercantile Bank Ltd endeavours to safeguard and ensure the security of the information provided by the Customer. Tamilnad Mercantile Bank Ltd uses advanced encryption of data, for the transmission of the information, which is currently the permitted level of encryption in India. When the information provided by the Customers is not transmitted through this encryption, the Customer’s system (if configured accordingly) will display an appropriate message ensuring the best level of secrecy for the Customer’s information.
The Customer would be required to cooperate with Tamilnad Mercantile Bank Ltd in order to ensure the security of the information, and it is recommended that the Customers necessarily choose their passwords carefully such that no unauthorised access is made by a third party. To make the password complex and difficult for others to guess, the Customers should use combination of alphabets, numbers and special characters (like !, @, #, $ etc.). The Customers should undertake not to disclose their password to anyone or keep any written or other record of the password such that a third party could access it.
Tamilnad Mercantile Bank Ltd undertakes not to disclose the information provided by the Customers to any person, unless such action is necessary to
- Protect and defend Tamilnad Mercantile Bank Ltd’s or its Affiliate’s rights, interests or property;
- Conform to legal requirements or comply with legal process;
- Enforce the terms and conditions of the products or services; or
- Act to protect the interests of Tamilnad Mercantile Bank Ltd, its Affiliates, or its members, constituents or of other persons.
Customers shall not disclose to anyone, in any manner, any info, relating to TMB Ltd or its Affiliates, of a confidential nature obtained in the course of availing the services through the website. Failure to comply shall be deemed a serious breach of the terms herein and shall entitle TMB Ltd or its Affiliates to terminate the services, without prejudice to damages, to which the customer may be entitled otherwise.
Tamilnad Mercantile Bank Ltd will limit the collection and use of customer information only on a need-to-know basis to deliver better service to the customers. Tamilnad Mercantile Bank Ltd may use and share the information provided by the Customers with its Affiliates and third parties for providing services and any service-related activities such as collecting subscription fees for such services, and notifying or contacting the Customers regarding any problem with, or the expiration of, such services. In this regard, it may be necessary to disclose the customer information to one or more agents and contractors of Tamilnad Mercantile Bank Ltd and their sub-contractors, but such agents, contractors, and sub-contractors will be required to agree to use the information obtained from Tamilnad Mercantile Bank Ltd only for these purposes.
The Customer authorises Tamilnad Mercantile Bank Ltd to exchange, share, part with all information related to the details and transaction history of the Customers to its Affiliates / banks / financial institutions / credit bureaus / agencies/participation in any telecommunication or electronic clearing network as may be required by law, customary practice, credit reporting, statistical analysis and credit scoring, verification or risk management and shall not hold Tamilnad Mercantile Bank Ltd liable for use or disclosure of this information.
Children visiting Tamilnad Mercantile Bank Ltd’s web site: We are confident that parents will not judge any of the information provided by Tamilnad Mercantile Bank Ltd as objectionable for viewing by their children.
Protected Disclosure Policy
Whistleblower framework enabling secure reporting of misconduct or violations
Recovery Agency Policy
Ethical and regulatory guidelines for loan recovery and third-party agents
Security Repossession Policy
This document explicitly states the model code for Recovery of Loan Dues and Repossession of Security. This is a non-statutory code issued on voluntary basis. This model code will apply to Tamilnad Mercantile Bank Ltd. from the date it is circulated viz February 2007.
Information published in the Document
- Preamble.
- Applicability.
- Introduction.
- Loan Recovery Policy.
- Security Repossession Policy.
- General Guidelines.
- Grievance Redressal Cell.
Stock Audit Policy
Procedures for verifying and monitoring borrower stock and inventory
Policy on Co-Lending by Banks and NBFCs/HFCs
Co-lending model framework enabling joint credit delivery with partner institutions
Policy on Valuation of Properties and Empanelment of Valuers
Guidelines for property valuation processes and empanelment of certified valuers
Internal Ombudsman Scheme
Independent mechanism for reviewing unresolved customer complaints
Framework for Microfinance Loans
Lending norms ensuring fair, affordable, and responsible microfinance practices
Framework for Cross Border Transactions
Detailed framework for Cross Border Transactions
Financial Inclusion Programme
TMB has launched the Financial Inclusion Programme (FIP), at Karadipatti Village in the presence of Dr.K.C.Chakrabarty, Deputy Governor, RBI, Mumbai on Jul 30, 2011.
The Villages allotted to our Bank under FIP by the State Level Bankers' Committee (SLBC) as well as the authorized Business Correspondents (BC) for the villages are shown below in the PDF document.
List of Villages allotted under Financial Inclusion Programme
In the allotted villages under Phase - I, 32 villages are covered through BC model and 2 villages through Brick & Mortar model. In the 32 villages BCs were appointed through our service provider. The engaged BCs in the Villages have been provided with Hand Held Device - HHD, by the bank which is enabled with Bio-metric Authentication, Interactive Voice Response [IVR] for voice guidance in Regional language and receipt printing facility.
KYC Guidelines
The objective of KYC guidelines is to prevent our Bank from being used, intentionally or unintentionally, by criminal elements for money laundering activities.
KYC procedures also enable branches to know / understand their customers and their financial dealings better which in turn help them manage their risks prudently.
Our KYC Policy covers :
- Customer Acceptance Policy.
- Customer identification Procedures.
- Monitoring of Transactions and
- Risk Management.
- Statutory Requirements.
- Dissemination of KYC Guidelines.
- Information published in the Document
- Objective.
- Know Your Customer Standards.
- Customer Acceptance Policy (CAP).
- Customer Identification Procedure.
- Monitoring of Transactions.
- Risk Management.
- KYC for the Existing Accounts.
- Appointment of Principal Officer.
- Annexure - Customer Identification Requirements.
- Statutory Requirements & Regulatories.
- Dissemination of KYC Policy.
Information given in this document is subject to change / revision. This document should not be considered as a legal document creating rights and obligations. It is for promoting better understanding between Customer and Banker. Only relevant information on various KYC related issues is given in this document. For further details / information visit or write to our branch offices or visit our website www.tmb.in.
