The Meghalaya Co-operative Apex Bank Ltd.
A Government of Meghalaya Sponsored Bank, established on 16th February 1971




The Meghalaya Co-operative Apex Bank Ltd. :
The Bank With A Mission ................ Bank on us for all your Banking Needs

Highlights and Achievements

  1. The Meghalaya Co-operative Apex Bank Ltd. (MCAB) was established in 1971, with the formation of Meghalaya State after bifurcation of the erstwhile  Assam State. Since then the Bank has developed and expanded its activities/ operations and has grown in manifolds. MCAB commenced Banking operations with just two branches – one at Shillong and the other at Tura. Today, the Bank has a wide network of 47 branches, spread throughout  the State providing effective banking products and other related services to the general public.

       Some of the  achievements made by the Bank  are furnished below :

  • The Bank has an authorized Capital of Rs.10.00 crores and the paid-up Share Capital of the Bank stood at Rs.699.26 lakhs at the end of March, 2014 as against authorized Share Capital of Rs.1.00 crore and paid-up Share Capital of Rs.17.27 lakhs as on June,1972.

  • The Working Capital of the Bank has increased from Rs.129.52 lakhs   (1971-72) to Rs.1813.99 crores as on 31.03.2014.

  • The Total Deposits of the Bank has increased from Rs.1.00 crore in 1972 to Rs.1482.41 crores as on 31.03.2014. The significant feature of deposit mobilization of the Bank is that it has reduced the cost of its deposits substantially as its low cost deposit  comprises of 64% of total deposits as on 31.03.2014.

  • The Bank has increased its net profit earning from Rs.0.22 lakhs in 1972 to Rs.19.34 crores as on 31.03.2014.

  • The Bank has channelised 6104 Nos. of tribal beneficiaries to the tune of Rs. 17.12 Crores with concessional rate of interest under the auspices of National Schedule Tribe and Finance Development Corporation ( NSTFDC). The Bank has also financed 155 nos. of beneficiaries to the tune of Rs. 2.10 crores under the National Handicapped Finance and Development Corporation (NHFDC) as on March 2014.

The MCAB as a pioneer in Banking in Meghalaya, has taken banking to the doorsteps  of the people of the State and has been able to nurture and develop banking habits among the people. This has changed the saving habit of  people from the traditional methods to the modern banking facilities to earn remunerative returns for their savings  invested with the Bank and utilize various attractive and innovative banking products offered by MCAB.

  1. With judicious deployment of resources, the Bank has been able to maintain the viability of the Institution as well the flow of  credit to the Priority Sector.

  2. The Bank has provided Debt Relief to more than 54000 farmers amounting to Rs.9.81 crores under the  ‘Agricultural and Rural Debt Relief Scheme’ 1990 sponsored by the Govt. of Meghalaya and made them Debt Free & re-eligible to avail loans and advances from the MCAB.

  3. The MCAB has been implementing National Agricultural Insurance Scheme (RKBY) for the benefit for the farmers both Loanee & Non-loanee.

  4. The MCAB has been implementing jointly with the State Government ‘Aquaculture Development ‘Thousand Ponds Scheme’ sponsored by the Govt. of Meghalaya involving hundreds of fish farmers of the State.

  5. The MCAB also extended conversion facilities of ST (Agril.) loanee (farmers) affected by Natural Calamities  into M.T. Loans.

  6. The MCAB is providing Basic Infrastructure, Assistance and Training etc. under ICDP to various cooperatives.

  7. The MCAB , introduced innovative Banking Services, in the Co-operative Banking Sector, and opened all Women Bank Branches (staffed exclusively by women) – one at Mawkhar, Shillong and the other at Chandmari, Tura. The Bank has also set up a Women Development Cell  (WDC) at H.O. supported by NABARD to take care of the credit needs of the women entrepreneurs .

  8. The Bank has recently enrolled itself as a Self Help Promoting Institution (SHPI) for taking up a time bound programme for formation and credit linkage of SHGs with the support and guidance from NABARD, Meghalaya Regional Office, Shillong. The Bank has also set up a Micro Credit Cell at H.O. to take up this work of forming and credit linking 300 SHGs over a period of 3 (three) years and 30 (thirty) Branches of the Bank have been identified for the same.

  9. The MCAB is the First State Co-operative Bank to  start ‘Mobile Banking’ services in rural areas to provide banking services at the doorsteps of the people in the unbanked villages of East Khasi Hills  District.

  10. The MCAB is the first Bank  in the country to extend Housing Loans to the general public, even before the ‘ National Housing Bank’ came into existence. 

  11. The Bank took initiatives and played active role in the introduction of IRRI Paddy  cultivation in flood prone areas in Meghalaya to enable the farmers to reap richer harvests before the onset of monsoon. MCAB is proud that its initiatives have yielded positive results and the farmers growing IRRI Paddy in Meghalaya, are more prosperous today.

  12. The MCAB has created direct employment opportunities  for about 600 persons in the Bank and has created thousands of job opportunities for  educated unemployed  youths through self-employment generation schemes of the Bank.

  13. The MCAB has introduced a number of innovative schemes to increase the flow of credit and create productive employment opportunities and improve the general socio-economic condition of the State. Few of such schemes are ‘Integrated Village Development Scheme’, ‘Co-operative Group Financing’, ‘Tourism Development Scheme’ ,  Increased allocations to Housing & Transport Loans’ etc.

  14. In order to improve the recovery of hardcore overdues, MCAB has introduced an innovative  scheme under which cash incentive to the extent of ˝ % to 1% of the recovery is given to the office-bearers and others involved in the recovery process at the level of Service Co-operative Societies.

  15. Under the leadership of MCAB, Cooperative Banks in the North Eastern Region with the financial assistance of NABARD, have established ‘Manpower Development & Management Institute (MDMI)’  in 1998 in Shillong and since then MDMI has been providing effective training facilities to all categories of employees & office-bearers of Co-operative Institutions and Traditional Heads in the North Eastern Region.

  16. In order to strengthen  co-operation among co-operatives and establish an effective forum for the Co-operative Institutions in the North Eastern Region, a consortium of Co-operatives in the form of ‘North East India Co-operative Foundation (NECDF)’ has been established in 1998 at the initiative of  MCAB.

  17. The MCAB has been extending guidance and providing effective leadership for the Short Term Co-operative Credit Structure in particular and the Co-operative Sector in general in the N.E.Region as spokesman at the level of National Forums, Re-financing Agencies, Govt. of India, etc., to focus the problems, issues and prospects of the Co-operative Movement and the Co-operatives in the Region.

  18. The MCAB has introduced two ‘Educated Unemployed Youth Counselling and Capacity Building Cells’ , one at Shillong and other at Tura and providing credit support to the deserving youth in a phased manner.

  19. The implementation of Cooperative Core Banking solution (CCBS) by National Informatics Centre (NIC), New Delhi has been completed in H.O. and all 46 Branches of the Bank within the stipulated mandate of 31.03.2014 as fixed by RBI and all the banking business is being carried out under Core Banking Solutions. All the Branches of the Bank are RTGS/ NEFT enabled . So far, the Bank has been able to install 4 Nos. ATMs in the Shillong region. The process of installation of more ATMs is under progress.

  20. The efforts and performance of MCAB have been widely recognized  by the National Level Co-operative Organisations such as NAFSCOB, NCARDB and the National Refinance Bank, NABARD by awarding ‘Best Performance Awards’ by NABARD.

    The MCAB has been selected for National Award for the empowerment with persons with disabilities, 2013 by the Union Ministry of Social Justice and Empowerment  & Union Ministry for the persons with Disability as Best Channelising Agency of National Handicapped Finance and Dev. Corporation and the Award has been presented by the Hon’ble President of India, Sri Pranab  Mukherjee. The Award has been received by the Chairman of the Bank, Shri W.K.Kyndiah on 3rd Dec., 2013.

Site Created, Designed, Hosted & Maintained by National Informatics Centre, Meghalaya State Centre.
Content Owned & Updated by The Meghalaya Co-operative Apex Bank Ltd.
© The Meghalaya Co-operative Apex Bank Ltd.