The Reserve Bank has assigned the lead bank responsibility to Punjab National Bank (PNB) for the newly-created district of Meghalaya.
The Meghalaya government in a notification on November 9, 2021, had informed about the formation of a new district, Eastern West Khasi Hills.
It has been decided to assign the lead bank responsibility of the new district to Punjab National Bank, Reserve Bank of India (RBI) said in a notification.
The newly-created district has been carved out from the erstwhile West Khasi Hills district.
A lead bank has the responsibility of coordinating efforts of all credit institutions in the allotted district to increase flow of credit to agriculture, small scale industries and other economic activities included in the priority sector in rural and semi-urban areas.