Thu Jan 30 18:11:05 UTC 2025: ## Meghalaya Launches Women-Led Financial Cooperative to Boost SHGs

**Shillong, Meghalaya –** The Meghalaya Cabinet approved the establishment of a women-led apex financial cooperative society, the Pla Tangka Cooperative Society (PTCS), aimed at empowering self-help groups (SHGs) across the state. The initiative, a collaboration between the Department of Community and Rural Development (C&RD) and the Centre for Research in Schemes and Policies (CRISP), seeks to revolutionize rural financial inclusion and economic resilience.

Chief Minister Conrad K. Sangma announced the decision, highlighting the significant growth of SHG capital from ₹40 crore in 2018 to over ₹1,000 crore today. The PTCS will provide SHGs with easier access to funds, eliminating the need for navigating complex loan application processes with traditional banks. This model, inspired by Telangana’s Stree Nidhi Model, will act as a financial intermediary, fostering entrepreneurship at the grassroots level.

Meghalaya joins Rajasthan, Andhra Pradesh, and Telangana in institutionalizing this cooperative model. The PTCS, named using Khasi and Garo words for “bag” and “money,” signifying a “bag full of money,” is registered under the Meghalaya Cooperative Societies Act, 2015.

This initiative is crucial to Meghalaya’s “$1 billion SHG Unicorn Vision,” which aims to alleviate multidimensional poverty by increasing family income by at least ₹1 lakh annually. The government plans to expand the SHG network to 80,000 groups by 2028, aiming for ₹8,000 crore in enhanced capital and a $1 billion contribution to the state’s economy by 2032.

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