The Meghalaya Cooperative Apex Bank Ltd. was incorporated on 16th February, 1971 under the provisions of Meghalaya Cooperative Societies Act and on obtaining the required license from the Reserve Bank of India under the Banking Regulation Act, 1949 (as applicable to Cooperative Societies) it commenced banking business on and from 1st July, 1971.
The Bank has taken up computerization of its Branches in keeping with the changing scenario in the Banking Sector and 39 of its 41 branches have already been computerized and the process for remaining two branches will be completed shortly. Further the Bank has started the process for providing ATM services in selected branches and will also introduce Core Banking Solution (CBS) within 2010 – 11. Its loan portfolio comprises of agricultural loan, home loan, personal loan etc
Purpose – The main purpose of the loan is to extended Cash Credit/Loan facilities for dealing in controlled commodities against adequate securities
Eligibility – Government appointed whole sellers are eligible for the loan
Rate of Interest –
| S.no | Details | Interest Rates |
| 1 | For loans up to & inclusive of Rs. 50,000/ | 11.00 % |
| 2 | For loans over Rs.50,000/- to Rs. 1.00 lakh | 11.50 % |
| 3 | For loans over Rs. 1.00 lakh to Rs. 2.00 lakh | 12.50 % |
| 4 | For loans over Rs. 2.00 lakh | 13.50 % |
Documents Required – Proof of address, identity, Bank account statement etc