SHILLONG, DEC 22: Recognition for excellence in cooperative banking continued to flow to the Meghalaya Co-Operative Apex Bank Ltd (MCAB) when its chairman WK Kyndiah and managing director DF War walked up the stage at the NCUI convention centre in New Delhi to receive the second prize for overall performance for the year 2008-09 and 2011-12 by the National Federation of State Coop Banks Ltd (NAFSCOB) on Thursday.
The award was presented by Delhi Assembly speaker Yoganand Shastri, in the presence of Prakash Bakshi, chairman of National Bank for Agriculture and Rural Development (NABARD). Andaman& Nicober State Cooperative Bank bagged the first prize.
However, getting the yearly award instituted by NAFSCOB has become a sort of a habit for the Meghalaya Cooperative Apex Bank Ltd as this cooperative bank had been getting such awards earlier.
MCAB managing director DF War told this reporter that the bank had walked away with the first prize for its overall performance in 1984-85. Ever since the bank has been keeping up its track records by expanding its area of operations and increasing its credit-deposit ratio coupled with excellent banking services to it customers.
The NAFSCOB has set of parameters that cooperative bank all over the country should fulfill before it is picked up a panel of experts as the best and the second best cooperative banks in the country.
Besides other criteria the panel of experts also looks at the short term cooperative credit structure, especially in the agriculture sector, resource mobilization, deployment of the resources of the bank, profit generated from the deployment of the resources and recovery of loans. – By Our Reporter
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