Repco Bank (Repatriates Cooperative and Finance and Development Bank) is a cooperative bank established by the Government of India in 1969 to improve financial needs of repatriates from neighbouring countries mainly from Sri Lanka and Burma.[1] It has been controlled by the Ministry of Home Affairs and operated only in the South Indian states of Andhra Pradesh, Karnataka, Kerala and Tamil Nadu.[1][2] As of 2014, the shares of the bank are Government of India has 73.33%, repatriates has 21.28% and state governments Tamil Nadu has 2.91%, Andhra Pradesh has 1.73%, Kerala has 0.59% and Karanataka has 0.17%.[3]
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| Founded | 19 November 1969 in Mylapore, India |
|---|---|
| Headquarters | T. Nagar, Chennai , India |
Area served | South India |
| Website | www |
Subsidiaries
edit- Repco Home Finance limited (RHFL)
- Repco Micro Finance Limited (RMFL)
References
edit- ^ a b "Repco Bank looks at RBI policy to operate as commercial bank". Business Standard. 11 June 2012. Retrieved 28 October 2014.
- ^ "Repco bank in expansion mode in State". The Hindu. 25 December 2013. Retrieved 28 October 2014.
- ^ "Rs 15.26 crore dividend cheque from REPCO Bank". Economic Times. 15 September 2014. Archived from the original on 18 September 2014. Retrieved 28 October 2014.
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