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Repatriates Cooperative Finance and Development Bank (REPCO Bank) gave an amount of Rs 15.26 crore as dividend to the Government of India. REPCO Bank Managing Director R Vardarajan said here.
REPCO Bank was set up in the year 1969 as a Society to help and promote the rehabilitation of repatriates from Sri Lanka, Myanmar, Vietnam and other countries.
The total authorised capital of the Bank was Rs 500 crore, against which the amount of subscribed capital is Rs 104 crore. The Government of India has 73.33% share, Government of Tamil Nadu 2.91%, Andhra Pradesh 1.73%, Kerala 0.59%, Karnataka 0.17% and repatriates have 21.28%.
The Bank is under the administrative control of the ministry of home affairs and functions as a multi-state cooperative society.
