Shillong: Meghalaya hit 98 percent financial inclusion coverage by May 31, 2026. State officials now scramble to connect every eligible citizen to the formal banking system. SBI Chief Manager H Khongsai confirmed the milestone during a recent briefing in Shillong. He said, “As of May 31, 2026, we have achieved 98 per cent coverage of account holders. Our goal is 100 per cent access for every eligible citizen.”
Rural banking remains the priority. All towns with at least 5,000 residents have full banking access. Smaller, isolated hamlets rely on a network of fixed and mobile Customer Service Points. SBI Deputy General Manager Ejaz Ahmad tracked 9.99 lakh Pradhan Mantri Jan Dhan Yojana accounts by the end of March. SBI alone carries 3.55 lakh of those accounts.
Digital activity spiked during the 2025-26 fiscal year. The state logged 32.76 crore digital transactions. RBI official Olden Nongpluh credited the surge to the Jan Dhan-Aadhaar-Mobile system and direct government payouts. Most account holders now use digital tools. Sixteen financial literacy centers currently operate across 55 community blocks to teach these skills.
Experts still see work ahead. During a panel, editor Patricia Mukhim pushed for local language education to boost literacy. IIM Shillong professor Neelam Rani noted a need to fix gender gaps. RBI official Hangsha Dhar Daimari warned that users must stay alert to avoid cyber fraud. Banks and community leaders now plan to tighten the network of business correspondents to prevent future losses.
Comments