Collector appoints Officer for Co-operative Bank election

Tirupati, Feb 14 (UNI) The Chittoor District Collector S S Rawat has appointed Election Officer K Brahmananda Reddy for conducting elections to the Board of Tirupati Co-operative Bank, Bank Managing Director V Subramanyam said here today.

The election was due since last four years, as per the directions of Andhra Pradesh High Court and Registrar of Co-operatives Societies, Hyderabad.

Talking to UNI Mr Subramanyam said the Election Officer would release the election schedule soon.

The meeting conducted on Dec 24 2006 took decisions to disperse pending dividents of four years to the bank's shareholders from January 1, 2007 and also to increase the authorised pay of share capital from Rs 5 crore to Rs 6 crore.

As per the decisions, the dividends were given from January 1 and it was still continuing, he added.

Stating that the bank was financially sound, he said those holding share capital of Rs 300 would be eligible to vote and members who were having share amount less than Rs 300 were requested to pay the balance and obtain an identity card to get voting right, he added.

UNI