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Shri. Ajay Kumar Mishra, Hon’ble Minister of State for Ministry of Home Affairs, Govt. of India !


Shri. Ajay Kumar Mishra, Hon’ble Minister of State for Ministry of Home Affairs, Govt. of India !

participated in a function organised by Repco Bank and Repco Micro Finance Ltd held at Hotel Le Royal Meridien Chennai and introduced New Deposit scheme – ‘REPCO THANGAMAGAL’- A social welfare deposit scheme supporting welfare of minor girl children and a Micro finance loan scheme - ‘REPCO VRUKSHA’ - for providing financial assistance to upliftment of women members of Self help groups. He also distributed welfare aids to repatriates and their children such as scholarships for higher education, cash rewards and merit certificates to top scorers among repatriate students. He also distributed sewing machines to destitute repatriate women. Further, he launched “Repco Digi Pay”, a digital loan repayment facility which enables Bank’s borrowers to make remittance to their loan accounts through digital mode such as Net Banking, Debit card, UPI & QR code.

After launching the new schemes, Hon’ble Minister addressed the gathering that the Bank was started with a noble cause of rehabilitation of Repatriates. Today, the Bank has achieved its noble objective and also doing commendable achievements in the business also. 

The Govt of India is supporting all the ventures of the Bank and also taking all the steps to obtain RBI license to the Bank. Over the last two years, many people claimed that the Banks in India will collapse after the covid pandemic. However, the Banks in India have performed extremely well and achieved a remarkable position. The Co-operative sector will also see a multifarious development in all fields. To support the same, a new co-operative policy will be unveiled before ensuing Diwali. Repco Bank and its group companies viz., Repco Home Finance Ltd and Repco Micro Finance Ltd 

are rendering its services throughout the country. Their services to the society are worth mentioning. The schemes launched today by the Bank are aimed at women empowerment and their well being, since women are playing a vital role in the development of the nation.

Mr.Anant Kishore Saran, Hon’ble Joint Secretary, Ministry of Home Affairs, who is also the Director of the Bank has appreciated the Bank’s functioning- and informed that the Bank has crossed Rs.18000 Crore 

business which is possible only because of support of the loyal customers and committed Bank staffs. He has informed that the Bank will achieve further progress under the continuous support of the Government of India and the Hon’ble Minister Shri. Ajay Kumar Mishra.

Sri. E. Santhanam, Chairman, Smt. R.S.Isabella, Managing Director and Board of Directors of Repco bankand its group institutions and their customers in large participated in the meeting. 

Smt.R.S.Isabella, in her welcome address, informed the gathering that Repco Bank was established in the year 1969 with the primary objective of Rehabilitation of Repatriates from Burma and Srilanka, head quartered at Chennai with 108 branches spread across all Southern States and Union Territory of Puducherry. 

The Bank has a total business mix of more than Rs.18100 Crores and moving swiftly towards achieving a business mix of Rs.20,000 crore within the year. The Bank has completed 54 successful years in the field of Banking and entering into 55th year. It is consistently making profits for the past three decades and has promoted two large financial institutions Viz. Repco Home Finance Ltd., (RHFL) a housing finance company and Repco Micro Finance Ltd (RMFL) providing Micro Finance providing financial assistance to members of Self Help Groups.

Shri.O.M.Gokul, Chief General Manager of Repco Bank proposed the vote of thanks.


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