By Our Reporter
SHILLONG, Sep 14: In a praise-worthy feat, the Meghalaya Co-operative Apex Bank Ltd (MCAB) has been adjudged winner of the first and second prize for ‘Overall Best Performance’ under ‘Two Tier Structure’ for the financial years 2020-2021 and 2021-22 respectively, by the National Federation of State Cooperative Banks.
The awards will be handed over at a ceremony in Jaipur later this month.
In its more than half a century of existence, the bank has established branches across the state and is also providing several electronic and digital banking services such as ATMs, mobile banking and Unified Payments Interface (UPI).
The bank is a profit-making entity and is a direct member of the Centralised Payment Systems and hence has been allotted its own IFSC.
In 2019, the MCAB had achieved the coveted goal of being included in the Second Schedule to the Reserve Bank of India Act, 1934.
