Saturday, June 15, 2024

‘Introduce core banking system in all branches’


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CM lays base of MCABL’s new building

By Our Reporter


Chief Minister Dr Mukul Sangma unveils the plaque after laying the foundation stone of a new building of Meghalaya Co-operative Apex Bank on Thursday. (ST)

Shillong: Chief Minister Dr Mukul Sangma has urged the Meghalaya Cooperative Apex Bank Ltd (MCABL) to introduce the core banking system in all its branches across the state.

”Core banking helps the banks in improving the employee productivity and better monitoring of agriculture and non-agricultural loans,” Sangma said after laying the base of the new building the MCABL at Mahatma Gandhi Road on Thursday.

He also launched the cooperative core-banking solution of MCAB here.

He also urged people of the state to extend the cooperation to the MCAB so that it can improve its delivery services to the people and pave way for an upward growth in the years to come.

Stating that MCAB has taken a giant step to reach the remotest of the remote areas, Dr Sangma said this has eased the constraints of the rural masses.

He said that flagship programmes initiated by the Centre and the state government have been designed in such a way that it involves banks because they are the institutions capable of providing best of services.

Dr Sangma also urged MCAB to take steps to pursue the integrated basin development and livelihood programme scheme for the benefit of the people of the state.

Meghalaya Minister for Cooperation, Saleng A. Sangma said the MCAB today has a wide network of 43 branches spread through out the State to provide effective banking service and other related services to the general public.

“The MCABL has mobilized deposit resources of more than Rs.1002.73 crore and had advanced over Rs.342.18 crore as on March 31, 2011 for various development activities in the State”, Sangma said.

Former Meghalaya Minister and Chairperson of MCABL, Roshan Warjri informed that the bank was engaged in the implementation of the 1000 Ponds Aquaculture Scheme jointly with the with the Department of Fisheries and also financed 2324 beneficiaries amounting to Rs.17.72 crore. She also said that the MCABL was also involved with the Meghalaya State Aquaculture Mission, a pilot project of the State Government, as envisaged by Chief Minister Dr Sangma.

Warjri said that the bank has made commendable progress such as the financing of Schedule Tribe and Physically Challenged people. For the Schedule Tribes, the bank as channelizing agency of the National Schedule Tribe Finance Development Corporation, New Delhi has financed 2835 tribal beneficiaries of the State amounting to Rs.7.61 crore.


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