CM Conrad K Sangma distributes 'Micro ATMs' to boost banking in rural areas

STAFF CORRESPONDENT

SHILLONG: Meghalaya Chief Minister Conrad K. Sangma distributed the 'Micro ATM' to the Business Correspondent Agents (BCAs) in the presence of Community & Rural Development Minister Hamletson Dohling at the Yojana Bhavan in the Main Secretariat here on Wednesday. The 'Micro ATM' is a hand-held device. It will be operated by the BCAs in the rural areas to enable access to banking services, particularly withdrawals. The initiative is being promoted by the Meghalaya State Rural Livelihood Society (MSRLS) in partnership with the Meghalaya Rural Bank (MRB) and the National Bank for Agriculture and Rural Development (NABARD).

In June this year, the MSRLS had signed an MoU with MRB to roll out the BCA project. Altogether 84 Self Help Groups (SHGs), functioning as 'Bank Sakhis' and stationed at MRB branches, are being engaged as BCAs.

In his address, the Chief Minister said that the 'Micro ATMs' will provide access to the basic banking services in the rural areas. The move will empower the rural population as far as their banking needs are concerned.

"The Micro ATMs will take the banking services to the doorsteps in rural areas," asserted the Chief Minister.

Statting that low penetration of banking infrastructure and financial services in the rural areas has posed a challenge, the Chief Minister said, "In the absence of basic banking services in rural areas, implementation of various development and welfare schemes are delayed because people have to travel far distance for their banking needs."

Stressing that the Micro ATMs will augment the banking services in the rural areas, he said, "Providing banking infrastructure and financial services is a huge challenge that most States face including ours. With this initiative of using technology coupled with trained manpower, we have the opportunity to transform lives and livelihood of the people."

At the launch of the initiative, the Chief Minister and the C&RD Minister handed over the 'Micro ATMs' to select BCAs from across the State. They also urged the authorities concerned to further increase such services to cover unreached banking areas.

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