(Last Updated on : 30/04/2013)
Repatriates Co-operative Finance and Development Bank Limited (REPCO) was started in the year 1969 by the Government of India
as an autonomous body. It had the main objective of rehabilitating repatriates from Burma and Sri Lanka. The Schemes are open to all on admission as members of the bank so as to enable the bank serve its main objective effectively. The bank is governed by the Ministry of Home Affairs
, Government of India.
The area of operation of the bank covers the south Indian states, namely Tamil Nadu
, Andhra Pradesh
, and the Union Territory of Pondicherry. The Share Capital of the bank constitutes subscription by the Government of India and the state Governments of Tamil Nadu, Andhra Pradesh, Karnataka, Kerala besides individual Repatriate members. The Bank is administrated by Board of Directors nominated by the Government of India, the Chief Executive being Managing Director, to look into the day-to-day operations.
Objectives of the REPCO
REPCO is committed to banking and extending banking services in a comprehensive way for the benefit of repatriates, stakeholders, member customers and employees. REPCO aspires to evolve into a professional player in the banking industry. It looks to employ modern technology for efficiency of operation and for attaining a significant position as a preferred Bank. REPCO aspires to be the Bank of choice for the retail clients by offering a variety of products designed to provide best customer satisfaction through a rewarding relationship guided by excellent human values arising out of integrity of highest order.
Repco Bank is committed to the cause of Rehabilitation - Social commitment to extend special support/benefit to Repatriates is manifest in:
* Educational Aid to the wards of Repatriates - number exceeds 260 per annum.
* School uniforms to more than 4000 students per annum.
* Extending special privilege of incentives on deposits made by Repatriates (1% extra) and concession of interest on loans availed (1% less) and
* Pre recruitment training for wards of Repatriates.