Union Home Minister receives a dividend of Rs. 15.26 crore from REPCO Bank
The Union Home Minister, Shri Rajnath Singh received an amount of Rs.15.26 crore as dividend to the Government of India from the Managing Director of Repatriates Cooperative Finance and Development Bank Ltd. (REPCO Bank) Shri R. Vardarajan, here yesterday.
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 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, Government of India and functions as a Multi State Cooperative Society.
The Additional Secretary (LWE), Shri Jaideep Govind, Additional Secretary & Financial Advisor, Ms. Sanjeevani Kutty, the Joint Secretary (FFR), Shri Dilip Singh and other senior officers of MHA and REPCO Bank were present on the occasion.