Tamilnad Mercantile Bank Ltd. and Avenues India Pvt. Ltd. Sign Net Banking Agreement

May 5, 2010

Tamilnad Mercantile Bank Ltd. and Avenues India Pvt. Ltd. are pleased to announce that they have signed a mutually beneficial net banking agreement.

Tamilnad Mercantile Bank is a prominent Indian bank headquartered in Tamil Nadu. Since its establishment, the bank has concentrated its efforts to meet the genuine requirements of various sectors of the economy and providing its account holders with the latest technology. Its net banking agreement with Avenues cements these efforts.

Avenues is the parent company for versatile e-solutions - CCAvenue - India's largest neutral online payment gateway, ResAvenue - India's complete reservation engine for the Hospitality Industry, EventAvenue - the online management solution for the Event Industry and HotelsAvenue - the world's largest resource for travel professionals.

Under the terms of the net banking agreement, Tamilnad Mercantile Bank Ltd. account holders will henceforth be able to shop online, book travel accommodation and event tickets on Avenues' merchants, hoteliers and event organizers' sites easily and pay directly through their bank accounts. With this tie-up, Avenues' merchants, hoteliers and event holders will enhance their reach in the Indian sub-continent and provide them with a new customer base.

Mr. Vishwas Patel, CEO, Avenues said, "Tamilnad Mercantile Bank Ltd. is a progressive bank that is focused on providing its customers with the latest technology. Our focus at Avenues is similar as we aim to provide ourmerchants, hoteliers and event holders with all the necessary tools they need to successful conduct business in the online Indian environ. Hence, we actively seek out and negotiate deals with Indian banks and other financial institutions. The addition of Tamilnad Mercantile Bank will surely add value to our merchants, hoteliers and event holders."

Tamilnad Mercantile Bank Ltd.
Tamilnad Mercantile Bank Ltd. (TMB) was established in 1921, by members of Nadar Mahajana Sangam, is headquartered in Tuticorin in Tamil Nadu, India. Originally known as 'The Nadar Bank Ltd.', it changed its name to Tamilnad Mercantile Bank Ltd. in November 1962.

Tamilnad Mercantile Bank Ltd. provides commercial banking products and services in India. It provides deposit services and credit cards; house rent, personal, education, car, and home loans; traders, tractor, truck, and mortgage loans; IPO finance and SME credit; tax saving deposits; recurring, current, savings, and current deposit accounts; and cash certificates. It also provides bill payment, anywhere banking, mobile SMS banking, demat account, mutual fund marketing, RTGS, ECS, money transfer, and clearing services, as well as compensation and security representative policies.

Today, Tamil Nadu Mercantile Bank has 216 full fledged branches all over India, 7 Regional Offices and 11 Extension Counters, 2 Mobile Banking Branch, 6 Central Processing Centres, 2 Currency Chests and 143 Automated Teller Machines.

About Avenues
Incorporated in the year 2001, Avenues is a zero-debt company that has been profitable from its inception. Avenues is headquartered in Mumbai, India and has subsidiary companies and offices in USA, Singapore and China. Avenues has developed several innovative, cutting-edge ASP hosted solutions that are used by thousands of eMerchants globally. Beginning as a single product company that catered to the local market, Avenues has become a multi-product company that operates on a global scale. The Avenues support and development center is based in Mumbai, India. The total strength of the Avenues team is currently 125 persons spanning across all offices. Avenues has three Business Units namely– Avenues Commercial Services, Avenues Travel Industry Services and Avenues Community Related Services. For more information, log onto: www.Avenues.info.

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