Administration

The bank is under the administrative control of the FFR Division, the Ministry of Home Affairs, and Govt. of India. Constitutionally, the bank is a multi-state cooperative society. The bank was promoted by the Government of India, Ministry of Home Affairs, in association with the state Governments of Tamil Nadu, Kerala, Karnataka and Andhra Pradesh. The society’s rules and regulations are governed by its byelaws. On the recommendation of the Government of India, the Reserve Bank of India, under Section 7(1) of the Banking Regulation Act, 1949, permitted this institution to use the word “BANK” by Notification S.O. 626 dated January 19, 1972. Multi-state cooperative societies are functioning as autonomous cooperative organizations accountable to their members and not under the administrative control of the Central Registrar, Ministry of Agriculture and Farmers’ Welfare. Therefore, the depositors and members are advised to make decisions about investing deposits based on the performance of society at their own risk. The Central Registrar, Ministry of Agriculture and Farmers’ Welfare do not provide any guarantee for these deposits. The Board of Directors of the Bank consists of senior-level IAS officers from central and state Governments, elected directors among the elected delegates, and a managing director. The present set of elected directors were elected on March 16, 2022, for a period of five years.