Bank of Madura was a Tamil Nadu-based bank established in 1943 by Karumuttu Thiagarajan Chettiar. [1] It acquired Chettinad Mercantile Bank (est. 1933) and Illanji Bank (est. 1904) during the 1960s. The Bank of Madura was a Chettiar bank with a large customer base of over 2 million customers and a network of more than 280 branches and 40+ ATM centres spread across around 100 cities in India. The bank merged with ICICI Bank Limited, under Section 44A of the Banking Regulation Act, 1949, under the leadership of Chairman K.M. Thiagarajan. The Bank had roughly 44 billion INR in assets at the time of the merger, not accounting for inflation. [1] The Reserve Bank of India approved the merger effective 10 March 2001. It was headquartered at Madurai.
The parties involved and news outlets alike described the merger as a positive strategic move. Bank of Madura shareholders approved the merger on 19 January 2001. [2] Following the merger the Bank of Madura's share price initially rose sharply. [2]
Kumbakonam or Kudanthai is a city municipal corporation in the Thanjavur district in the Indian state of Tamil Nadu. It is located 40 km (25 mi) from Thanjavur and 282 km (175 mi) from Chennai and is the headquarters of the Kumbakonam taluk of Thanjavur district. It is the second largest city in the district after Thanjavur. The city is bounded by two rivers, the Kaveri River to the north and Arasalar River to the south. Kumbakonam is known as a "Temple town" due to the prevalence of a number of temples here and is noted for its Mahamaham festival, which happens once in 12 years, attracting people from all over the country.
Bank of Baroda is an Indian nationalized banking and financial services company headquartered in Vadodara. It is the third largest nationalised bank in India, with 132 million customers, a total business of US$218 billion, and a global presence of 100 overseas offices. Based on 2019 data, it is ranked 1145 on Forbes Global 2000 list.
Indian Bank is a major nationalised bank. It is under the ownership of the Ministry of Finance, Government of India. It was established in 1907 and is headquartered in Chennai, India.
Indian Overseas Bank (IOB) is a major Indian nationalised bank. It is under the ownership of Ministry of Finance, Government of India based in Tamil Nadu, India, with about 3,214 domestic branches, about 4 foreign branches and representative office. Founded in February 1937 by M. Ct. M. Chidambaram Chettyar with twin objectives of specialising in foreign exchange business and overseas banking, it has created various milestones in Indian Banking Sector. During the nationalisation, IOB was one of the 14 major banks taken over by the government of India. On 5 December 2021, IOB got Degidhan Award 2020–21 by Ministry of Electronics & Information Technology for achieving second highest percentage of digital payment transaction among public sector banks. As on 31 March 2022, IOB's total business stands at ₹417,960 crore (US$55 billion).
Chettiar is a title used by many traders, weaving, agricultural and land owning castes in South India, especially in the states of Tamil Nadu, Kerala and Karnataka.
The Nagarathar is a Tamil caste found native in Tamil Nadu, India. They are a mercantile community who are traditionally involved in commerce, banking and money lending.
ICICI Bank Limited is an Indian multinational bank and financial services company headquartered in Vadodara. It offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of investment banking, life, non-life insurance, venture capital and asset management.
Alagappa Chettiar Government College of Engineering and Technology (ACGCET-Karaikudi) is an autonomous college of engineering in Karaikudi, Tamil Nadu, India. Established in 1952, it is under the control of the government of the State. The college is a member institute under the TEQIP – Technical Education Quality Improvement Programme in India.
Modern banking in India originated in the mid of 18th century. Among the first banks were the Bank of Hindustan, which was established in 1770 and liquidated in 1829–32; and the General Bank of India, established in 1786 but failed in 1791.
Karumuttu Thiagarajan Chettiar, often called the 'Textile King ' or 'Textile Baron ', was an Indian independence activist, industrialist and the founder of Thiagarajar College of Engineering, Thiagarajar school of management and Thiagarajar Polytechnic College, Salem.
Karur Vysya Bank is a Scheduled Commercial Bank in India. It has completed 100 years of operation and is one of the leading banks in India, headquartered in Karur in Tamil Nadu. It was set up in 1916 by M. A. Venkatarama Chettiar and Athi Krishna Chettiar. The bank primarily operates in treasury, corporate/wholesale banking and retail banking segments.
Diwan Bahadur Sir Satappa Ramanatha Muttaiya Annamalai Chettiar, Raja of ChettinadKCSI was an Indian industrialist, banker, educationist and philanthropist from Tamil Nadu. He is the founder of Annamalai University in Chidambaram and one of the founders of Indian Bank, along with his brother S. Rm. M. Ramaswami Chettiar.
ING Vysya Bank was a privately owned Indian multinational bank based in Bangalore, with retail, wholesale, and private banking platforms formed from the 2002 purchase of an equity stake in Vysya Bank by the Dutch ING Group. This merger marked the first between an Indian bank and a foreign bank. Prior to this transaction, Vysya Bank had a seven-year-old strategic alliance and shareholding arrangement with erstwhile Belgian bank Banque Bruxelles Lambert, which was also acquired by ING Group in 1998.
Tamilnad Mercantile Bank Limited (TMB) is a bank headquartered at Thoothukudi, Tamil Nadu, India. TMB was founded in 1921 as the Nadar Bank, but changed its name to Tamilnad Mercantile Bank in November 1962 to widen its appeal beyond the Nadar community. For the financial year 2018–2019, the bank reported a net profit of ₹ 2585 million. The bank currently has 509 full branches throughout India, 12 Regional offices and two link offices, two central processing centres, one Service Branch, four Currency Chests, 48 eLobby centres, 262 Cash Recycler Machines and 1151 Automated Teller Machines (ATM). The bank has been expanding its footprint all over India.
Ulagampatti is a village located in S Pudur Panchayat Union of Singampunari Taluk in Sivagangai District, Tamil Nadu State, India.
Raja Sir Muttaiya Annamalai Muthiah Chettiar was an Indian banker, politician, philanthropist, socialite and cultural activist who served as Mayor of Madras city (1933) and Minister of Excise and Education (1936–37) in the provincial government of Madras Presidency. He was holder of the hereditary title Kumar-rajah (1929–48) and later, Raja of Chettinad (1948–84).
Lakshmi Vilas Bank was an Indian private sector bank established in 1926 in Karur, Tamil Nadu. As of November 2020, the bank had 566 branches in 19 states and 1 union territory. On 27 November 2020, the bank was merged into the Indian subsidiary of DBS Bank.
Palanivel Thiagarajan is an Indian politician and the current Finance Minister of Tamil Nadu. He was elected to the Tamil Nadu Legislative Assembly election in 2016 and 2021 from Madurai Central.
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