Crisil assigns A1+ for TMB's certificate of deposit programme

Mr S. Selvan Rajadurai, General Manager, Business Development, Tamilnad Mercantile Bank Ltd (TMB), Head Office, Thoothukudi, in a release to the press, said that TMB's Certificate of Deposit Programme has been assigned the highest rating of “A1+” by Crisil Ltd, indicating that that the instrument is “very strong” in terms of timely payment of interest and principal. He added that TMB proposed to raise Rs 10 billion through CDP.