All Meghalaya blocks to have banks: Sangma

Shillong, April 12 (IANS) Meghalaya Chief Minister Mukul Sangma Friday said all 39 blocks across the state would become “banked blocks” with the setting up of bank branches there.

“Our engagement with banks will be much more aggressive to have their branches in the block headquarters to facilitate banking facility,” he said.

Stating that 90 percent of the state population did not have access to banks, Sangma — who was replying to a discussion on the budget in the assembly — rued “pathetic” credit deposit ratio (CDR) in the state, which was less than 20 per cent.

“We have taken up the matter with the Ministry of Finance and the Reserve Bank of India and the government had a “robust economic approach” involving effective implementation of developmental programmes through accountability and expansion of resource base,” the chief minister said.

He said several banks have expressed their intention to expand services in the state.

To tackle the burgeoning unemployment problem, Sangma said his government has launched a State Development Mission in tandem with the central government to impart training to youth and create skilled manpower across the state for generation of self-employment.

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