Union Home Minister Amit Shah has received a dividend cheque from the representatives of the Repco Bank of Rs 15.26 crore. The Repco Bank is controlled by the Home Ministry and is multi-state cooperative finance and development bank.
An official statement said, “The Repco Bank is a multi-state cooperative society established in 1969 by the central government for rehabilitation of repatriates from Myanmar and Sri Lanka.”
As on March 31 this year, the government of India held 49.15 percent of the share capital, four southern state governments held 6.24 percent and the remaining 45 percent was held by individual repatriates.
The statement said, “For the year 2018-19, the total business mix of the bank was Rs 15,230 crore. The bank posted a net profit of Rs 107 crore and declared a dividend of 20 percent for its stakeholders.”
P Senthil kumar, Chairman, and R S Isabella, Managing Director, Repco Bank presented the dividend cheque for 2018-19 to the home minister, it said.