Current Affairs - Banking - Discussion

Bhuj Mercantile Cooperative Bank has won the Banco Award for best performing cooperative bank. Bhuj Mercantile Cooperative Bank received the Banco Award from Telangana Chief Minister K Chandrashekhar Rao at an award ceremony held recently in Hyderabad. Bhuj Mercantile Cooperative Bank was selected as the best performing cooperative bank from 1500 cooperative banks in India. Also, Bhuj Mercantile Cooperative Bank ranked in the top in Gujarat for hi-tech technology upgradation. It ranks third in the category at National level. Banco Award is presented every year to the top performing cooperative banks to recognise and encourage best practices in the cooperative banking sector. The banks for Banco Award were selected based on the bank's audited accounts for past 3 years, deposit growth, non-performing assets (NPA), net profit, customer service standards, ratings provided by RBI, staff training, Core Banking Solution (CBS), use of latest technology, e-com and ATM facilities.