SHILLONG, FEB 2: The Meghalaya Co-operative Apex Bank Ltd (MCAB) has been adjudged one of the best performing State Cooperative Banks in the country under two-tier structure and has been awarded Third Prize by the National Federation of State Cooperative Banks (NAFSCOB) for the Financial Year 2024-25.
The Awards carries a Trophy, a shawl and a plaque of appreciation and will be presented during the Award Function scheduled to be held at Gangtok, Sikkim.
The Bank was awarded first, second and third prizes by NAFSCOB for the Financial Years 2020-21, 2021-22 and 2023-24 respectively.
Established in 1971, the Bank has 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 consistently profit making and is a direct member of the Centralised Payment Systems and hence has been allotted its own IFSC.
In 2019, the Bank achieved the coveted goal of being included in the Second Schedule to the Reserve Bank of India Act, 1934.
In recent years, the Bank was awarded for outstanding performance in SHG Bank Linkage by the Ministry of Rural Development, Government of India and recognized as a Top Tax Deductor by the Income Tax Department.
 has been adjudged one of the best performing State Cooperative Banks in the country under two-tier structure and has been awarded Third Prize by the National Federation of State Cooperative Banks (NAFSCOB) for the Financial Year 2024-25.){kind=link}