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Voluntary Disclosures of Repco Bank under Sec.4(1)(b) of RTI Act |
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| 1 | The Particulars of its organization, functions and duties. |
For the particulars of Bank`s Origin, Administration, Jurisdiction etc., |
| 2 | The powers and duties of its officers and employees. |
The powers and duties of officers and employees are decided by the Board of Directors or Board Subcommittee in terms of service regulations. The delegation of financial powers to various grades of officials is decided by the Managing Director, which is revised from time to time depending upon the organization's requirements. The concerned sanctioning authority takes a decision to sanction a loan or otherwise on the merits of each proposal. Apart from this, the bank issues circular guidelines and instructions regarding the powers and duties of various functionalities wherever they are required. |
| 3 | The procedure followed in the decision-making process included channels of supervision and accountability. |
There is a well-defined system in the bank regarding the decision-making process. Financial decisions are taken at various levels by different officials, depending on their positions and also through a committee approach. Further, there is a well-defined organizational structure and a clear system of accountability and control that also take into account the regulator and CVC guidelines. In order to exercise supervision and fix accountability and responsibility, various control measures have been put in place. |
| 4 | The norms set by it for the discharge of its functions. |
The bank follows the directions issued by the Board of the Bank through policies duly approved by it. The bank functions with the following core values and norms:
Regarding the core functions of the bank, i.e., deposits and loans, the interest rates for deposits, advances and different deposits, as well as loan products, are displayed on the bank's website and also made available at all branches. Regarding sanction of loans, each officer of the bank will consider loan proposals and take a decision in terms of the scheme of delegation of powers on the merits of the proposals. All the officers of the bank are expected to discharge their duties and responsibilities with integrity and due diligence. The public can also refer to the bank's website for any further information. Nature of functions and services offered The public can refer to the caption " Contact Us" on the Bank's website for accessing the services |
| 5 | The rules and regulations, instructions, Manuals and records held by it, under its control, used by its employees, or used by its employees for discharging its functions. |
All periodical Circulars, Manuals, Conduct Regulations, etc. are made available to all our employees for discharging various functions and duties and the same are available in the intranet portal. Relevant acts, rules, forms and other documents that are normally accessed by citizens Information manual or handbook is available in electronic format. List of materials available at no cost List of materials available At a reasonable cost of the medium |
| 6 | A statement of the categories of documents that are held by it or under its control. | |
| 7 | The particulars of any arrangement that exists for consultation with, or representation by, the members of the public in relation to the formulation of its policy or implementation thereof. |
Board of Directors, which formulates and implements its policy, consists of nominated or elected members. For details, visit our bank website: www.repcobank.com. Shareholders can seek clarifications concerning the policies of the bank in the Representative General Body meeting. Further, the bank's financial performance is published on the bank's website periodically for the information of the public as well as shareholders, which would give an idea about the policies of the bank and the implementation thereof. Member customers from different segments will be invited to a customer meeting where they will have the opportunity to learn about the policies of the bank. They can also make suggestions, if any, for improvements to the same. |
| 8 | A statement of the boards, councils, committees and other bodies consisting of two or more persons constituted as its part or for the purpose of its advice and as to whether meetings of those boards, councils, committees and other bodies are open to the public or the minutes of such meetings are accessible to the public. |
The Board of Directors of the Bank consists of elected directors, senior-level officials from central and state governments and the Managing Director. Various committees, as per the requirements of the Bank are formed with the approval of the board or by the top management, as per the powers delegated by the board. The following are the board subcommittees and other functional committees: Board Sub-Committees:
Other functional committees consisting of bank executives:
The public is not entitled to participate in the meetings of the board and committees, and minutes are not accessible to the public. |
| 9 | A directory of its officers and employees. |
Since the number of employees is quite large and they are subject to transfers, it is not possible for the bank to publish the list of officers and employees and keep the same updated from time to time. The list of offices and branches is already available on the website for reference by the public. The public can refer to the caption " Contact Us" on the Bank's website for accessing the services |
| 10 | The monthly remuneration received by each of its officers and employees, including the system of compensation as provided in its regulations. |
The remuneration of all the officers and employees is fixed by the board. |
| 11 | The budget is allocated to each of its agencies, indicating the particulars of all plans, proposed expenditures and reports on disbursements made. |
There are no plans and budgets for the expenditure of public money and disbursements, and the provision is not applicable to the bank. |
| 12 | The manner of execution of subsidy programmes, including the amounts allocated and the details of beneficiaries of such programmes. |
There are no subsidy programmes or plans for lending activities as a whole. This provision is not applicable to Repco Bank |
| 13 | Particulars of recipients of concessions, permits or authorizations granted by it. |
In respect of demand and term deposits, there are no programmes of the bank granting concessions, permits, or authorizations except the following: For savings bank deposits, additional interest of 1.00% p.a. is offered to staff or eligible ex-staff members. For domestic term deposits, an additional interest rate of 1% is offered to employees (regular, contract, group, or retired) and repatriate A-Class members. Additional interest of 0.50% is offered to senior citizens. Besides the above, concessions in charge for various services rendered are extended to select categories of customers, viz., Government departments, ministries, institutions, religious welfare services, charitable institutions, etc., as approved by the competent authority from time to time. A concessional rate of interest for loans up to 2% is offered for Repatriate member customers based on the nature and quantum of the loan. There are no programmes in the bank for the grant of permits or authorizations, and there is no material in the bank relevant to this provision. |
| 14 | Details in respect of the information available to or held by it are reduced to an electronic form. |
All the general information regarding deposits, advances and other services offered by the bank is already available on the bank's website. The public may refer to the website for necessary information. |
| 15 | The particulars of facilities available to citizens for obtaining information, including the working hours of a library or reading room, if maintained for public use. |
The public can obtain information on our various products from any of the bank branches. The list of telephone numbers has already been published on the website. The public can approach the same for any further information. Repco Bank is not maintaining any libraries or reading rooms for the public. |
| 16 | The names, designations and other particulars of the Public Information Officers and Asst. Public Information Officers. |
For the details, click on the details of the PIO, First Appellate Authority and Transparency Officer. Consultancy committee of key stakeholders for advice on suo-motu disclosure |
| 17 | Such other information as may be prescribed, and thereafter update these publications every year. |
Necessary information relating to the public is ported on the Bank`s website in a periodical manner. Details of questions asked and replies given in the parliament Details of applications received under RTI and information provided Details of appeals received and orders issued Audit Report Repatriates_Cooperative_Finance_and_Development_Bank_Limited |
For the particulars of Bank`s Origin, Administration, Jurisdiction etc.,
The powers and duties of officers and employees are decided by the Board of Directors or Board Subcommittee in terms of service regulations. The delegation of financial powers to various grades of officials is decided by the Managing Director, which is revised from time to time depending upon the organization's requirements. The concerned sanctioning authority takes a decision to sanction a loan or otherwise on the merits of each proposal. Apart from this, the bank issues circular guidelines and instructions regarding the powers and duties of various functionalities wherever they are required.
There is a well-defined system in the bank regarding the decision-making process. Financial decisions are taken at various levels by different officials, depending on their positions and also through a committee approach. Further, there is a well-defined organizational structure and a clear system of accountability and control that also take into account the regulator and CVC guidelines. In order to exercise supervision and fix accountability and responsibility, various control measures have been put in place.
The bank follows the directions issued by the Board of the Bank through policies duly approved by it.
The bank functions with the following core values and norms:
Regarding the core functions of the bank, i.e., deposits and loans, the interest rates for deposits, advances and different deposits, as well as loan products, are displayed on the bank's website and also made available at all branches.
Regarding sanction of loans, each officer of the bank will consider loan proposals and take a decision in terms of the scheme of delegation of powers on the merits of the proposals. All the officers of the bank are expected to discharge their duties and responsibilities with integrity and due diligence.
The public can also refer to the bank's website for any further information.
Nature of functions and services offered
The public can refer to the caption " Contact Us" on the Bank's website for accessing the services
All periodical Circulars, Manuals, Conduct Regulations, etc. are made available to all our employees for discharging various functions and duties and the same are available in the intranet portal.
Relevant acts, rules, forms and other documents that are normally accessed by citizens
Information manual or handbook is available in electronic format.
List of materials available at no cost
List of materials available At a reasonable cost of the medium
Board of Directors, which formulates and implements its policy, consists of nominated or elected members. For details, visit our bank website: www.repcobank.com. Shareholders can seek clarifications concerning the policies of the bank in the Representative General Body meeting. Further, the bank's financial performance is published on the bank's website periodically for the information of the public as well as shareholders, which would give an idea about the policies of the bank and the implementation thereof. Member customers from different segments will be invited to a customer meeting where they will have the opportunity to learn about the policies of the bank. They can also make suggestions, if any, for improvements to the same.
The Board of Directors of the Bank consists of elected directors, senior-level officials from central and state governments and the Managing Director. Various committees, as per the requirements of the Bank are formed with the approval of the board or by the top management, as per the powers delegated by the board. The following are the board subcommittees and other functional committees:
Board Sub-Committees:
Other functional committees consisting of bank executives:
The public is not entitled to participate in the meetings of the board and committees, and minutes are not accessible to the public.
Since the number of employees is quite large and they are subject to transfers, it is not possible for the bank to publish the list of officers and employees and keep the same updated from time to time.
The list of offices and branches is already available on the website for reference by the public.
The public can refer to the caption " Contact Us" on the Bank's website for accessing the services
The remuneration of all the officers and employees is fixed by the board.
There are no plans and budgets for the expenditure of public money and disbursements, and the provision is not applicable to the bank.
There are no subsidy programmes or plans for lending activities as a whole. This provision is not applicable to Repco Bank
In respect of demand and term deposits, there are no programmes of the bank granting concessions, permits, or authorizations except the following:
For savings bank deposits, additional interest of 1.00% p.a. is offered to staff or eligible ex-staff members.
For domestic term deposits, an additional interest rate of 1% is offered to employees (regular, contract, group, or retired) and repatriate A-Class members. Additional interest of 0.50% is offered to senior citizens.
Besides the above, concessions in charge for various services rendered are extended to select categories of customers, viz., Government departments, ministries, institutions, religious welfare services, charitable institutions, etc., as approved by the competent authority from time to time.
A concessional rate of interest for loans up to 2% is offered for Repatriate member customers based on the nature and quantum of the loan.
There are no programmes in the bank for the grant of permits or authorizations, and there is no material in the bank relevant to this provision.
All the general information regarding deposits, advances and other services offered by the bank is already available on the bank's website.
The public may refer to the website for necessary information.
The public can obtain information on our various products from any of the bank branches. The list of telephone numbers has already been published on the website. The public can approach the same for any further information. Repco Bank is not maintaining any libraries or reading rooms for the public.
Necessary information relating to the public is ported on the Bank`s website in a periodical manner.
Details of questions asked and replies given in the parliament
Details of applications received under RTI and information provided
Details of appeals received and orders issued
Audit Report Repatriates_Cooperative_Finance_and_Development_Bank_Limited
Repatriates Cooperative Finance and Development Bank Ltd. (REPCO BANK) was registered on November 19, 1969, as a Cooperative Society under the relevant provisions of the Madras Cooperative Societies Act, 1961, with jurisdiction over the State of Tamil Nadu, Andhra Pradesh, Karnataka, Kerala and the Union Territory of Puducherry.
ADDRESS
Repco Towers, N0:33, North Usman Road ,T.Nagar, Chennai - 600017
Ph No - 044-28340715
Email - ho@repcobank.co.in