MCRB&MSL and its management have received copious awards for performance and contribution to the society. The society has been relentlessly pursuing its objectives and has been successful in achieving them. The changes in the standard of living of the members and their betterment are achievements in true sense.

Some of the awards and recognitions presented to the society are

1. "Manager of the year" award to Sri. A.K. Viswanatha Reddy by Hyderabad Management Assoiation
2. Best Multipurpose Cooperative award presented to Mr. Viswanatha Reddy in 1982-83 by Multi Purpose Cooperative Association.
3. Certificate of recognition for contribution to the society presented to Mr. Viswanatha Reddy in 1981 by CDF
4. Certificate of Appreciation presented to Mr. Praveen Reddy by Mr. Kotla Vijayabhaskar Reddy in 1992
5. Best cooperator award presented by Sri Y.S. Rajasekhara Reddy, Chief Minister of Andhra Pradesh in 2004
6. Mr. N. Raghuvira Reddy, Minister for Agriculture felicitated Mr. Praveen Reddy for his services to agriculture sector in the year 2004
7. A.P Urban banks’ association and state cooperative union presented the “best cooperative award” to MCRB&MSL in 2005
8. KRIBHCO, New Delhi presented "Khribco sahakara vibushan"award to MCRB&MSL in 2005
9. In recognition of his services, Mr. Praveen Reddy has been appointed as Zonal Advisory committee member of Life Insurance Corporation of India