Department of Information and Public Relations

Press Release No. 101/12

CM INAUGURATES FARMERS MARKET AT BAKUR

Shillong, March 29, 2012: Meghalaya Chief Minister, Dr. Mukul Sangma today inaugurated the first phase of the Farmer’s Market at Bakur, Dawki, bordering Bangladesh. The Chief Minister was accompanied by local MLA, Mr. L Rymbui, Parliamentary Secretary, Mr. A Saleh and senior government officials from the Horticulture Department.

It may be mentioned that the market was constructed by the Meghalaya State Agriculture Market Board in 2010 with an aim to improve the economy of the farmers in the area. The Agricultural department had allocated fund under the Additional Central Assistance 2008-09 for development of the farmers’ market. The project was implemented at Dawki considering its location along the international border between India and Bangladesh.

In his speech, Dr. Sangma stressed on the need to create better market linkage with Bangladesh in terms of exporting agriculture and horticulture produce of Meghalaya. He further said that the initiative would improve the living conditions of the farmers in the border areas, adding that though Bakur market will facilitate the large-scale sale of arecanuts, this will also facilitate the marketing of other horticulture produce. He further said that Meghalaya can export a lot of arecanuts to Bangladesh and the people of the area can explore the possibility of exporting both agricultural and horticultural products. He further stated that the intention of the government is to improve the plight of the people living in the border area and the inauguration of the Farmers’ Market will help to boost marketing facilities.

Others who spoke on the occasion were Mr. L Rymbui, Mr. A Saleh, Mr. T Dkhar, Deputy Commissioner, Jaintia Hills, Dr. O Rngad, Director Agriculture.

Press Release No. 102/12

46TH BRANCH OF MEGHALAYA COOPERATIVE APEX BANK INAUGURATED

Shillong, March 29, 2012: In its attempt to bring banking services closer to the people, the 46th Branch of the Meghalaya Cooperative Apex Bank (MCAB) Ltd was inaugurated today, the 29th March, 2012 at Nongmynsong, Shillong by the Meghalaya Minister for Water Resources, etc., Mr. A L Hek in the presence of Mr. J Syiem, Joint Registrar of Cooperative Societies, Smti. R. Warjri, Chairperson of the MCAB, Mr. Mukul Das, Vice Chairman, Mr. DF War, Managing Director, Mr. B Khonglah, Headman of Nongmynsong among others.

It may be mentioned that the MCAB was established in the year 1971 and its banking business was commenced with effect from 1st July, 1971 after obtaining the required license from the Reserve Bank of India under the Banking Regulation Act, 1949. With an opening of only Rs. 1.00 crore in 1971, at present the net profit of the bank is more than Rs. 22.00 crores. Dubbed “the bank of the people by the people and for the people”, the main functions of the MCAB are to accept deposits from the public and to provide agricultural loans to farmers and also other credit facilities to all sections of the people. Apart from deposit schemes, the bank is also implementing loan schemes, such as crop loans, term loans, housing loans, transport/vehicle loans, consumer durables loans, cash credit facilities, term loans for tourism development, integrated village development scheme, unemployed youth loan and others. Besides, the bank also render its service to provide financial assistance to urban banks, weavers, cooperatives, industrial cooperative, joint farming, societies, implementation of the aquaculture one thousand ponds scheme sponsored by the Fisheries Department, implementation of RKBY for the benefit of farmers, KCC scheme for farmers, etc.

In his inaugural address, the Minister lauded the effort of the MCAB management for expanding its banking service in every nook and corner of the State for catering the needs of the people. Expressing happiness that the MCAB has implemented core-banking in the State, Mr. Hek said that this facility will ensure speedy process of financial matters. He hoped that more new branches will be open especially in those areas where there are no banking facilities.

He also underlined the need to create awareness among the people of the State especially in the rural areas about the various facilities offered by the bank, adding that Bank plays a fundamental role for the development of the rural areas by providing different banking services.

Others who spoke on the occasion included Mr. Mukul Das, Mrs. R.Warjri and Mr. D.F. War.