REPATRIATES WELFARE TRUST
Repatriates Welfare Trust was established during the year 2007 (19.11.2007 – Bank’s Foundation Day) by Repco Bank with the objective of providing welfare schemes to Repatriates and their wards & heirs. The Trust consist of 15 Trustees in its Board, out of which 8 are ex-officio Trustees nominated by the Bank from its official cadre and 7 are from among the Repatriates Delegates.
The Trust was created with an initial Corpus fund of 5.00 lakh. Every year Repco Bank appropriates certain amount from its profit to the Trust for carrying out various welfare schemes as follows:
|S.No.||Name of the Trustees||Designation|
|1||Smt. R.S. Isabella||Chairman|
|2||Sri. P. Yogaseran||Trustee|
|3||Sri. B. Ravi||Trustee|
|6||Sri. B. Kannan||Trustee|
|9||Sri. L. MunishwarGanesan||Trustee|
|10||Sri. P. Mahalingam||Trustee|
|12||Sri. V. Krishnakumar||Trustee|
|13||Sri. R. Rajendran||Trustee|
|14||Sri. V. Rengarajan||Trustee|
|15||Sri. S. Yagu||Trustee|
Presently the following welfare schemes are being offered to Repatriates.
Free uniforms and notebooks
Distribution of free uniforms and notebooks to repatriate children studying in schools where more than 60% are repatriates in select areas.
Education aid is being granted to repatriate students who are pursuing higher education.
|Name of the Course||Eligible Amount (in Rs. )|
|B.V.Sc., B.D.S., M.B.B.S., Ph.d.,||7500|
|B.Sc (Agri), B.L., B.Sc (Nursing), B.E., and B.Tech.,||5000|
|All other undergraduate courses||2500|
|M.V.Sc., M.D.S., M.D., M.Ch.,||10000|
|M.Sc (Agri), M.L., M.Sc (Nursing), M.E., M.Tech., MCA and MBA||6000|
|All other Post Graduate courses||3000|
|B.Ed., and Physiotherapy courses||3000|
|Engineering Diploma courses [DCE , DME , DEEE]||4000|
|All other 3 year Diploma courses||2500|
|All other 1-2 year Diploma courses||2000|
Education loans to Repatriates Students who pursue Graduate / Post Graduate Professional Courses in accredited institutions in India at nominal rate of interest
|Loan Amount ( Rs.)||Rate of Interest||Collateral Security||Needed|
|Upto 2,00,000||4%||Upto 50,000||No|
|Above 2,00,000||13%||Above 50,000||Yes|
For all loans creditworthy third party surety acceptable to the bank is compulsory.
Sponsorship of Higher Education to the Repatriates Students who secured first three ranks in Government Higher Secondary Board of Examination, upto maximum of Rs.35,000/- PA for BE , Rs.32,000/- for MBBS/BDS , and Rs.25000/- for other courses.
The trust also Sponsors for education expenses of Repatriates students who is having good academic track and they are aiding from very poor economic family background conditions, up to maximum of Rs.35,000 /- PA for BE, Rs.32,000/- for MBBS/BDS , and Rs.25,000/- for other courses.
Top Scorer Award
Distribution of Cash award, shield and certificates to repatriate students who secure highest marks in HSC Board Examinations.
|1st Place||Rs. 10,000/-, Momento and Certificate|
|2nd Place||Rs. 7,500/-, Momento and Certificate|
|3rd Place||Rs. 5,000/-, Momento and Certificate|
|Securing more than 1000 Marks||Rs. 2,500/- and Certificate|
Distribution of Cash award, shield and certificates to repatriate students who secure highest marks in SSLC Board Examinations.
|1st Place||Rs. 7,500/-, Momento and Certificate|
|2nd Place||Rs. 5,000/-, Momento and Certificate|
|3rd Place||Rs. 3,000/-, Momento and Certificate|
|Securing more than 400 Marks||Rs. 1,500/- and Certificate|
The Trust provides the following medical aid to repatriates.
|Treatment||Amount (in Rs.)|
|Heart Surgery , Kidney Transplantation||35,000|
|Eye Surgery and all minor Surgeries||7,500|
|Treatment for Cancer||20,000|
|Kidney Failure Treatment||15,000|
|Major Surgery in Accident||15,000|
Solatium to Repatriate Delegates
Solatium of Rs.50,000/- is paid to the family members of deceased Delegates
Interest Rate Concession
Concession in rate of interest of loans is offered upto 2% than the rate offered to general public. Similarly deposits attracts 1% more than the rate offered to general public.
The Board of Trustees meet periodically and evolve new repatriate welfare schemes from time to time. The trust is continuously endeavoring to provide maximum benefits to repatriates
|The amount donated towards Repatriates Welfare Trust is eligible for deduction under section 80G of the Income Tax Act, 1961|