P.K. Vaidyanathan, General Manager & Public Relation Officer of Repco Bank in a statement informed that Repco Bank has received three FCBA, 2022 awards of Banking Frontiers for -
Best HR Innovation
Best Investment Initiative
Best Collections Initiative
among Co-operative banks in the National Co-operative Banking Summit held at Indore, Madhya Pradesh on 15th and 16th October, 2022 presided by Suresh Prabhu, former Union Minister.
He further informed that Repco Bank established during the year 1969 by Government of India for the purpose of Rehabilitation of Repatriates from Sri Lanka and Burma as a prominent presence in the Southern parts of the country. Having crossed 53 years of existence, the Bank has transformed into one of the best Bank among Co-operative Banks in India and the Bank has 108 branches with a business mix of more than Rs.17,000 crore. The Bank under the administration control of Ministry of Home Affairs is a continuous profit making institution for the past 30 years and declaring dividend of 20% to its stakeholders.
The Bank is offering 7.55% interest for Senior Citizen deposits and 7.05% for others. The Bank is offering many special schemes under Jewel Loan, Mortgage Loan etc., with lower rate of interest. The Bank is the only institution for the rehabilitation and upliftment of repatriates and has many welfare schemes for them. The Managing Director of the Bank, R.S. Isabella has informed that the Bank has fixed a target of Rs.18000 crore business mix for the Financial Year 2022-23.
Recognizing the best performance in all parameters, the Bank has been bestowed with the above three awards said a release here.
(To receive our E-paper on whatsapp daily, please click here. To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)
