Repatriates Cooperative Finance and Development Bank Ltd., (REPCO BANK) was registered on 19.11.1969 as a Cooperative Society under the relevant provisions of Madras Cooperative Societies Act, 1961 with Jurisdiction over the State of Tamilnadu, Andhra Pradesh, Karnataka, Kerala and Union Territory of Puducherry for the purpose of promoting the rehabilitation activities for repatriates from neighbouring countries mainly from Sri Lanka and Burma. Though originally registered under the Madras Cooperative Societies Act, 1961, the Bank is deemed to be registered under the Multi State Cooperative Societies Act, 2002.
The Bank is under the administrative control of FFR Division, Ministry of Home Affairs, and Govt. of India. Constitutionally, the Bank is a Multi-State Cooperative Society. The Bank was promoted by Government of India, Ministry of Home Affairs in association with the State Governments of Tamil Nadu, Kerala, Karnataka and Andhra Pradesh. The Society’s rules and regulations are governed by its byelaws. On the recommendation of Govt. of India, the Reserve Bank of India under section 7(1) of Banking Regulation Act, 1949 permitted this Institution to use the word “BANK” by Notification S.O. 626 dated 19.01.1972. The Board of Directors of the Bank consists of senior level IAS officers from Central/state Governments, Elected Directors among the elected delegates besides Managing Director. The present set of Elected Directors were elected on 16.03.2022 for a period of five years.
The area of operation of the bank covers the south Indian states viz., Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Kerala, and the Union Territory of Puducherry.
The share capital of the Bank as on 31.03.2023 as given here below:
|SHARE CAPITAL AS ON 31.03.2023|
|Sl. No.||Share Holders||Share Capital Amount (Rs. in cr.)|
|1||Government of India||76.32|
|2||Government of Tamil Nadu||7.13|
|3||Government of Andhra Pradesh||1.05|
|4||Government of Telangana||0.75|
|5||Government of Kerala||0.61|
|6||Government of Karnataka||0.17|
|7||Repatriates and Other 'A' Class Share Holder's||66.40|