Meghalaya: ”Bank on Wheels” launched

• The State Bank of India introduced Bank on Wheels in Meghalaya to provide banking facilities to its customers and especially to 4,500 unbanked villages in the state. The programme is part of financial inclusion plans of the Central Government and RBI.
• Meghalaya Rural Development Society (MRDS) will operate the Bank on Wheels for SBI in implementing the project and motivate people in unbanked villages to open bank accounts. Established to oversee mobilisation of Social capital, MRDS is implementing livelihoods programme in five districts of the state – Ri-Bhoi, East Khasi Hills, Jaiñtia Hills, East Garo Hills and South Garo Hills. The bank on wheels will go to interiors with the help of MRDS to motivate people to open bank accounts.

Month: Current Affairs - January, 2012