Operations
in a computerized environ. Moving towards Core Banking
Solutions.
Providing overdue interest
on advances fully irrespective of whether
the advances are classified into Performing
(or) Non-performing – adhering to
Multi State Co-op. Societies Act. More stringent
adoption or prudential norms than other
Scheduled banks.
100% Reconciliation of Inter Branch accounts.
Effective Internal Audit system is implemented
and periodical reports obtained.
Qualitative improvement in credit appraisal.
Improvement in post sanction
follow-up such as ensuring submission of
stock / audited financial statements at
periodic intervals / renewal of insurance
policies / ensuring end use of funds.
Introduction of Treasury Operations contributing
to increase in Operating profit.
Move towards “anywhere banking facility”.
ATM Installation.
Qualitative MIS Data available for Decision
Making.
100% Data security is facilitated & Pioneer
in implementing CBS in the Cooperative Banking
sector.
Pioneer
in Bancassurance
Repco Bank
has taken to distribution of Insurance
products without risk. Tie-up with
Life Insurance Corporation of India
for Life policies and Royal Sundaram
Alliance Insurance Co., for non-life
cover has been established.
Western
Union Money Transfer facility
can be accessed from any Branch of
Repco Bank, in association with M/s.
Transcorp International Ltd.
Repco
Foundation for Micro Credit – RFMC
Repco Bank
has formulated Micro Credit
schemes for poverty alleviation
among rural poor more particularly
among the repatriate settlements
in the Nilgiris District through
formation of Self Help Groups (SHGs)
based on the study conducted by
the bank in 2002. The Bank has joined
hands with SIDBI as partner in extending
Micro finance to a large number
of SHGs.
