Shillong, Jan 30: Meghalaya cabinet on Thursday gave its approval to open up an apex cooperative society – Pla Tyngka for  women Self Help Groups (SHG) to enable easy financial services.

The mission is to build a savings-led rural economy by strengthening financial supports systems to SHGs through the Kong Pla Tangka.

The goal is to expand the network of SHG to 80,000 groups by 2028 and ensure access to Rs 8000 crores of enhanced capital which will contribute upto 1 billion dollars to the State economy by 2032.

Informing this Chief Minister Conrad K Sangma said this will act as financial corpus and a system that will act specifically for SHG. It will enable more accessibility to funds to all the SHGs who will be free to join subscribe to certains share.

Stating that there are 5 lakh plus women in the SHGs, he said the government wants the number to go up to 8 lakhs.