Shillong, October 31: The Meghalaya Co-Operative Apex Bank Ltd has to catches up with the nationalized Bank where core banking is a must. The Apex Bank has already on the way to be fully equipped with the core banking system by the end of December this year.
The Chairman of the Bank Shri W Kyndiah told SP News Agency that they have to be equipped with these latest technology otherwise the bank will suffer in the business in the long run. At present transfer of money from place to the others place was carried through RTGS or by Swift that make secure.
At present the MCAB has 46 branches all over the state, out of which 30 branches core banking will be functional by the end of December this year and the 16 others will be by 2013. The reason for the delay is not due to the bank but from the BSNL where they don’t have internet connection.
Though MCAB is a small bank compare to others bank but they are take this step so that the scheme of the central government and state government which will be channelizing through this bank will not be suffer. After implanting the Core Banking, he hope the business of the bank will be better.
The MCAB was also selected as one of the channelizing agency for the implementation of the Aquaculture Mission in the state. The central government has given the charge to the MCAB that all funds for the Handicap scheme in Meghalaya will be channelized from the MCAB.(SP News Agency)
