A brief look at REPCO, the latest universal bank licence candidate

Repco Bank would approach the private sector for investments. However, it is yet to start such exercise.

REPCO Bank, which recently applied for a licence to start a universal bank in the country, expects to post a net profit of up to Rs 60 crore in FY21. A multi-state cooperative society, it is currently under the administrative control of the Union Home ministry.
 
The Government of India — along with the governments of Tamil Nadu, Kerala, Karnataka, and Andhra Pradesh — is the promoter. They together hold 55.3 per cent stake in the lender and the remaining 44.7 per cent is with individuals.
 
With 1.2 million customers, the lender applied for a universal banking licence