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]

Repco Bank
Founded19 November 1969; 53 years ago (1969-11-19) in Mylapore, India
HeadquartersT. Nagar,
Chennai
,
India
Area served
South India
Websitewww.repcobank.com

SubsidiariesEdit

  • Repco Home Finance limited (RHFL)
  • Repco Micro Finance Limited (RMFL)

Repco Bank has lot of problems and going through the tough phase, it is not a bank it is a co-operative society, past 10 years there is no new branches. Management has spoiled employees career. Recruitment notification is released, if any one wants to spoil there career they can join this co-operative society. Lot of complaints/Cases and issues pending with Co-operative society registrar and in Tamilnadu Courts. RBI has not given license to do BANKING business(Refer Economic Times). Despite Minister’s assurance, RBI rejects REPCO Bank’s application for Universal Bank's License.

ReferencesEdit

  1. ^ a b "Repco Bank looks at RBI policy to operate as commercial bank". Business Standard. 11 June 2012. Retrieved 28 October 2014.
  2. ^ "Repco bank in expansion mode in State". The Hindu. 25 December 2013. Retrieved 28 October 2014.
  3. ^ "Rs 15.26 crore dividend cheque from REPCO Bank". Economic Times. 15 September 2014. Retrieved 28 October 2014.


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