By Our Reporter
beneficiary during the launch of the scheme ‘Women Empowerment through
Financial Inclusion’ in Mawsynram on Friday. (ST)
MAWSYNRAM: Chief Minister Dr Mukul Sangma on Friday observed that banking institutions are not solely responsible for the low Credit Deposit (CD) ratio in the State.
“We often debate in the Assembly and blame the banks for this low CD ratio. But I do not think it is right to put the blame only on the banks,” Dr Sangma said while the launching the scheme ‘Women Empowerment through Financial Inclusion’ at Mawsynram Community and Rural Development (C&RD) Block Development Office on Friday.
Admitting that the banks have not been able to provide credit or loan to the people of the State in as much as it is required, the Chief Minister, however, insisted that the Government is also responsible for this low CD ratio.
“I personally feel that the Government needs to come up with schemes which are customized for a particular area and then enter into a partnership with the bank and the people. This is the only way that the CD ratio in the State would improve,” Dr Sangma said.
The Chief Minister also urged the banks to enter into partnerships with the Government, stating that this would provide a huge opportunity for the banking institutions to expand their businesses.
He expressed concern that there are several blocks in the State where there is no presence of banks.
“I suggest that the banking institutions should conduct a survey to find out the areas where they could have possible business opportunities,” Dr Sangma said.
The Chief Minister also stated that after assuming office two-and-half years ago, the Government had assured that it bring about a difference in the lives of the people of the State with special focus on the rural population. Like any other State in the country, Meghalaya also has 80 per cent of its population residing in the rural area, he said.
“But in the past few years, there has been a huge migration of the rural population to the urban areas due to the lack of opportunities and also non-availability of other facilities. As a result, this has put undue pressure on the urban area,” the Chief Minister said.
In order to reduce the number of people migrating from the rural areas, he said that his Government was committed to ensure that there are enough opportunities in the rural areas.
Dr Sangma also highlighted the recent launch of the Chief Minister’s Special Assistance Scheme, saying that Government is committed to ensure the welfare of the various sections of the people.
“The special scheme aims at providing special assistance in the form of monthly monetary allowances to the old and infirm, differently abled and widows,” Dr Sangma said.
The scheme is being implemented by the Child Development Project Officers (CDPOs) in every block and will enable the beneficiaries to live a life of dignity without depending on others, the Chief Minister added.
Briefing about the newly launched scheme ‘Women Empowerment through Financial Inclusion’, he said that the scheme is being implemented to bring about economic empowerment of the women in the State.
“In the first phase the Government is targeting to provide financial assistance to around 14,000 women potential entrepreneurs across the State,” the Chief Minister said.
Other dignitaries who were present on the occasion included Community & Rural Development Minister Saleng M Sangma, local MLA Pynshngain N Syiem, Additional Chief Secretary BK Dev Verma among others.