Shillong, Jan 31:The Meghalaya Cabinet has granted approval for the establishment of a financial cooperative, the Pla Tangka Cooperative Society (PTCS), aimed at strengthening the financial infrastructure for Self-Help Groups (SHGs) across the state.

Chief Minister Conrad K. Sangma, addressing the media, highlighted the significant growth in SHG funding, with capital increasing from Rs 40 crore in 2018 to over Rs 1,000 crore today. He stressed that this expansion has made a notable impact on Meghalaya’s GDP.

Sangma added that the creation of PTCS will be a transformative step for rural economic development, offering greater financial opportunities and support to SHGs in Meghalaya’s rural areas.