Tamilnad Mercantile Bank (NSE:TMB, BOM:543596) has gone live on Oracle HCM Cloud Payroll integrated with AI agents, according to a press release filed with the Indian bourses on Monday.

The implementation, carried out in collaboration with Oracle and Kovaion Consulting, makes the bank the first in India's banking, financial services, and insurance sector to deploy AI-driven automation for payroll and HR processes, improving accuracy, efficiency, and employee self-service, the bank said in the release.

Shares of the company fell nearly 1% in Tuesday's trade.