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Rs. 15.26 crore dividend from REPCO Bank to Government of India

New Delhi, Mon, 15 Sep 2014 NI Wire

Today, Union Home Minister Shri Rajnath Singh received a cheque of Rs. 15.26 crore das ividend from the REPCO Bank on the behalf of Government of India. The cheque was handed over by the Managing Director of Repatriates Cooperative Finance and Development Bank Ltd. (REPCO Bank) Shri R. Vardarajan to Union Home Minister Shri Rajnath Singh.

The REPCO Bank was set up as Society in the year 1969 and is under the administrative control of the Ministry of Home Affairs. The Bank was set up 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, Govt. of India and functions as a Multi State Cooperative Society.

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