REPCO Bank Has Capital Of 500 Crores And Submits ,Today,Dividend of Rs 15.26 Crore to Home Minister
Repatriates Cooperative Finance and Development Bank (REPCO) Handed Over a Dividend Cheque of Rs 15.26 crore to Home Minister
The Home Minister Rajnath Singh received it on behalf of the central government from Managing Director of REPCO Bank R Vardarajan
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 +other countries.
The total authorised capital of the Bank stood at 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, Govt. of India and functions as a Multi State Cooperative Society.
Photo Caption
The Union Home Minister, Shri Rajnath Singh receiving a dividend cheque of Rs. 15.26 crore for the year 2012 – 13 from the Managing Director of Repatriates Cooperative Finance and Development Bank Limited (REPCO Bank), Shri R. Varadarajan, in New Delhi on September 15, 2014.
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