Assam Chief Minister Himanta Biswa Sarma has congratulated the Assam State Co-operative Bank (Assam StCB), also known as the Assam Co-operative Apex Bank, on its inclusion in the Second Schedule of the Reserve Bank of India (RBI) Act, conferring Scheduled Bank status.
Calling it a major milestone for grassroots financial inclusion, the Chief Minister said the development would strengthen Assam’s cooperative banking ecosystem by enhancing operational capacity, liquidity management, and public confidence. He noted that Scheduled Bank status would enable the bank to access various RBI facilities, reinforcing its role in delivering banking services at the grassroots level.
The Chief Minister congratulated Chairman Biswajit Phukan, the Board of Directors, officers, and staff of the Apex Bank for the achievement. Notably, CM Sarma is also a Director on the bank’s Board.
Meanwhile, Chairman Biswajit Phukan described the inclusion as a proud moment for Assam, marking the culmination of a 77-year journey. He outlined plans to transform the Apex Bank into a strong cooperative institution with an annual profit target of Rs 100 crore by 2030, elevating its stature alongside leading banks such as SBI, HDFC, and PNB.
