I am very happy for the privilege of taking over as Chairman: Meghalaya Rural Bank on 1st August 2014 from Shri Mukul Ch Jeishi, my immediate predecessor in the Chair.
I had been associated with Meghalaya Rural Bank earlier as State Bank of India nominee Director on the Bank’s Board of Directors during 2008 and have kept track of the progress of the Bank ever since. I had also always been aware of the wholesome reputation which Meghalaya Rural Bank enjoys in banking circles and therefore welcomed the opportunity of being associated with the Bank yet again - this time in the capacity of its Chief Executive.
Direct Benefit Transfer or DBT is an attempt to change the mechanism of transferring subsidies launched by Government of India on January 1, 2013. This program aims to transfer subsidies directly to the people through their bank accounts. It is hoped that crediting subsidies into bank accounts will reduce leakages, delays, etc.
DBTL Scheme : Government of India Introduced Modified Direct Benefit Transfer of LPG (DBTL) scheme on November 15, 2014 whereby LPG consumers who have not yet availed the benefit will be able to get cash subsidy amount transferred into their registered Bank Accounts to buy Liquefied Petroleum Gas (LPG) cylinders at market price.
Meghalaya Rural Bank & DBTL: Meghalaya Rural Bank, is one of the Sixth Scheduled Bank, sponsored by State Bank of India, established under the Regional Rural Banks Act, 1976 and operating under Core Banking (CBS) platform extending Banking facilities and Technology enabled products like ATM, NEFT, RTGS, etc in the State of Meghalaya. (http://meghalayaruralbank.co.in/about-us.html)