Govt receives dividend of 15.26 cr Rs from Repco Bank
Repco Bank is a multi-state cooperative society established in 1969 by the government for the rehabilitation of repatriates from Burma and Sri Lanka
July 25, 2019
Union Home Minister Amit Shah received a dividend cheque of Rs 15.26 crores from the representatives of Repco Bank at New Delhi on Thursday. Repco Bank is a multi-state cooperative society established in 1969 by the government for the rehabilitation of repatriates from Burma and Sri Lanka and is under the administrative control of the Ministry of Home Affairs.
As on March 31, the government held 49.15 percent of the share capital, the four southern state governments held 6.24 percent and the remaining 45 percent was held by individual repatriates.
Business mix of the bank was Rs 15,230 cr
For the last financial year 2018-19, the total business mix of the bank was Rs 15,230 crores. The bank posted a net profit of Rs 107 crores and declared a dividend of 20 percent for its stakeholders. Dr P Senthilkumar, Chairman, Repco Bank, and RS Isabella, Managing Director at the bank, presented the dividend cheque for FY 2018-19 to Shah in the presence of Krishna Bahadur Singh, Joint Secretary (Freedom Fighters & Rehabilitation Division), Ministry of Home Affairs.