More banks should be set up: Cong MLA

SHILLONG: Congress MLA Himalaya Shangpliang observed that the demand for banks has increased since demonetisation. He said the consideration to open more banks should be made.
While speaking during the question Hour, he said setting up of banks in Pongkung, Dangar and Lawbah will provide banking facilities to the people of the area.
In the written reply, Chief Minister Conrad Sangma said bank branches have already been set up in the areas and said UCO bank has a branch in Dangar (Balat) and Meghalaya Rural Bank has a branch in Pongkung and Lawbah.
Conrad maintained that banking infrastructure has been a major concern. He informed that he sat in the State Level Bankers’ Committee (SLBC) meeting and assured to take up the matter in SLBC as it is upto the banking sector to decide.
Congress MLA George Lyngdoh said 75 per cent of the state is unbanked and banks are mostly found in places where economic activities are higher and urge the CM to look into improving the banking sector.
Sangma said initiative by the Central government has been taken such as the Indian Postal Payment Service besides assuring to explore options.