Chennai, Nov 25:
The Repco Bank which celebrated its Golden Jubilee Celebrations, on Saturday, here at Amma Arangam, launched the Repco 50 Plus Loan Scheme to cater to the needs of the retail customers with the loan ceiling limit amount of Rs 50 lakhs with very attractive and competitive interest rate, higher loan eligibility, longer tenure and lower monthly EMI with no processing fee.
The bank which was established on November 19, 1969 with the primary objective of Rehabilitation of Repatriates from Burma and Srilanka, had crossed its Business Mix to the tune of Rs 14, 300 crore with Profit after Tax crossing Rs 105 crore.
The Bank’s Managing Director R.S.Isabella, while launching the new Plan also released Gold Jubilee souvenir with compilation of the journey of the bank in the last 50 years.
The Board of Directors of the bank are Senior IAS officials of Government of India and four other Southern State Governments. The Principal Secretary, Public & Rehabilitation Department of the Government of Tamil Nadu is the Ex-Officio Chairman of the bank.
Lauching the new plans, Isabella said that the bank had been functioning in different parts of the state with 108 branches and had been declaring dividend of 20 % every year.
In the function the Managing Director also launched a Facebook Page of the bank, for the customers to be in touch with the bank.
Principal Secretary Public & Rehabilitation Department and the bank’s Chairman P.Senthil Kumar, T.S.Krishnamurthy, Chairman, Repco Home Finance Limited and Chie Election Commissioner (Retd), Dinesh Ponraj Oliver, Director of Rehabilitation also Director of Repco and Repatriate Directors, L.Munishwar Ganesan and P.Mahalingam participated in the function.
A medical camp was conducted on November 19 at Geetham Hall, T’Nagar, Chennai as part of the Golden Jubilee celebrations.