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Key Points

Amit Shah praised Repco Bank for its historic Rs 140 crore profit, calling it a model for cooperatives. The bank, operational since 1969, handed over a Rs 22.90 crore dividend to the MHA. India’s cooperative sector includes over 8.44 lakh societies, driving financial inclusion. Shah’s remarks highlight the government’s focus on strengthening cooperative institutions.

Key Points: Amit Shah Lauds Repco Bank for Record Rs 140 Crore Profit

  • Amit Shah commends Repco Bank's record Rs 140 crore profit
  • Bank presents Rs 22.90 crore dividend to MHA
  • Repco operates across five southern states and Puducherry
  • India has over 8.44 lakh cooperatives, boosting economic growth
2 min read

Amit Shah congratulates Repco Bank on registering record Rs 140 crore profits

Union Minister Amit Shah praises Repco Bank for achieving its highest-ever profit of Rs 140 crore and receives a Rs 22.90 crore dividend.

"Heartiest congratulations to Team Repco Bank for posting a profit of Rs 140 crore, the highest in its history. – Amit Shah"

New Delhi, August 4

Union Home Minister Amit Shah, who also holds the Co-operation portfolio, congratulated Repco Bank for posting record profits in the financial year 2024-25.

"Heartiest congratulations to Team Repco Bank for posting a profit of Rs 140 crore in the financial year 2024-25, which is the highest in the history of the cooperative society," the Union minister posted on X.

The bank, under the jurisdiction of the MHA, has set an example of efficiency, dedication, and professionalism that will serve as an inspiration for the cooperative sector, the Union minister added.

According to its website, Repatriates Cooperative Finance and Development Bank Ltd. (REPCO BANK) was registered on November 19, 1969, as a cooperative society under the relevant provisions of the Madras Cooperative Societies Act, 1961, with jurisdiction over the State of Tamil Nadu, Andhra Pradesh, Karnataka, Kerala and the Union Territory of Puducherry.

Today, on behalf of the MHA, the Minister received a dividend check of Rs 22.90 crore from top officials of the Bank.

"Today, on behalf of the MHA, received a dividend check of ₹22.90 crore from Shri E. Santhanam, Chairman, Shri C. Thangaraju, Director - Repco Bank & Chairman of Repco Home Finance Ltd. and Shri O.M. Gokul, Managing Director," the X post read.

The Ministry of Cooperation was established on July 6, 2021, underscoring India's commitment to enhancing the cooperative sector.

India is home to over 8.44 lakh cooperatives, including 2 lakh credit cooperatives and 6 lakh non-credit cooperatives spanning housing, dairy, fisheries, and more, according to a PIB backgrounder published on Saturday.

Going by the PIB backgrounder, a cooperative is an autonomous association of persons, united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly owned and democratically member-controlled enterprise.

- ANI

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Reader Comments

P
Priya S
While the profits are commendable, I hope the bank is also focusing on financial inclusion for small traders and farmers in South India. Cooperative banks should not just be about profits but also social impact.
A
Aditya G
As someone from Tamil Nadu, I've seen Repco Bank's work firsthand. Their home finance schemes have helped many middle-class families. Good to see South Indian institutions doing well nationally!
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Sarah B
₹22.90 crore dividend to MHA is significant! But can someone explain how this money will be utilized? Transparency in government finances is always important.
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Karthik V
The cooperative sector is India's unsung hero! With 8.44 lakh cooperatives, this model can really boost rural economy. More power to institutions like Repco Bank 🇮🇳
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Nisha Z
My father worked with cooperatives all his life. Seeing this news makes me emotional. These institutions truly empower common people. Hope they maintain this growth while keeping their original values.

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