HYDERABAD: Minister of State for Home Affairs Bandi Sanjay Kumar reviewed the performance of Repco Bank at a meeting held here recently.
E Santhanam, chairman of Repco Bank, OM Gokul, MD (I/c.) of the bank, Anant Kishore Saran, joint secretary (FFR Division), Ministry of Home Affairs, and C Thangaraju, chairman of Repco Home Finance Ltd and director of Repco Bank, were present during the review meeting.
Repco Bank is a Government of India Enterprise under the administrative control of MHA. The Bank has a business mix of more than Rs 20,500 crore and is a continuous profit-making institution.
The bank consistently declares dividends to its stakeholders, including Union and southern state governments and individual voting members. For FY 2023-24, a dividend of 25% was declared to the stakeholders. On November 19, Repco Bank introduced a new deposit scheme, ‘Repco 56,’ offering interest rates of 8.75% for senior citizens and 8.25% for others on deposits for a period of 560 days.