The Meghalaya Cooperative Apex Bank Ltd. was incorporated on 16th February, 1971 under the provisions of Meghalaya Cooperative Societies Act. The Meghalaya Cooperative Apex Bank is the first State Cooperative Bank in the country to open Women Branches – one at Mawkhar, Shillong and the other at Chandmari, Tura and has now also set up a Women Development Cell (WDC) supported by NABARD
Purpose – The main purpose of the scheme is to help formation of homogeneous groups with 5 to 20 members in the rural areas in the cooperative sector and to extend loan assistance to them for improving their socio-economic conditions by undertaking various activities which are socially useful and economically viable.
Eligibility – Homogeneous groups with 5 to 20 members in the rural areas in the cooperative sector
Rate of Interest – The bank offers loan at reasonable interest rates like any other personal loan of the bank The interest rates are as follows
| S.no | Details | Interest Rates |
| 1 | For loans upto & 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