 "A brief look at REPCO, the latest universal bank licence candidate")
REPCO Bank, which recently applied for a licence to start a universal bank in the country, expects to post a net profit of up to Rs 60 crore in FY21. A multi-state cooperative society, it is currently under the administrative control of the Union Home ministry.
The Government of India — along with the governments of Tamil Nadu, Kerala, Karnataka, and Andhra Pradesh — is the promoter. They together hold 55.3 per cent stake in the lender and the remaining 44.7 per cent is with individuals.
With 1.2 million customers, the lender applied for a universal banking licence
The Government of India — along with the governments of Tamil Nadu, Kerala, Karnataka, and Andhra Pradesh — is the promoter. They together hold 55.3 per cent stake in the lender and the remaining 44.7 per cent is with individuals.
With 1.2 million customers, the lender applied for a universal banking licence
