For Burmese repatriates, Repco Bank offers additional interest on deposits and concession in rate of interest on loans. Various welfare schemes for the repatriates and their wards were also being implemented by the bank, according to its Managing Director R.Varadarajan.
In response to an article ‘Forty years on, hundreds of Burmese repatriates still have no patta’ published in these columns on November 10, Mr.Varadarajan said the bank has not discontinued the preferential benefits for repatriates.
“In fact, the bank is giving preferential treatment to repatriate customers, both in deposits and advances,” he said.
Repatriates were entitled to one per cent additional interest on their deposits and concessional rate on loans. Service charges and appraiser fees for jewel loans were waived for repatriates.
Noting that the Bank had put in place many welfare schemes for repatriates and their wards, he said 54,729 persons had benefitted, amounting to Rs.7.12 crore, from the programmes in the last seven years.
The welfare programmes included distribution of educational aid to repatriate college students, free uniforms and notebooks to school students and provision of medical aid to ailing persons.
He said in the current fiscal Rs.2 crore was set aside for repatriate welfare activities.
For Burmese repatriates, Repco Bank offers additional interest on deposits and concession in rate of interest on loans