Aizawl, April 23: Vijay Kumar Singh met officials from the Cooperation Department Mizoram, National Bank for Agriculture and Rural Development and Mizoram Cooperative Apex Bank Ltd. at Lok Bhavan to discuss the recent grant of Scheduled Bank status to MCAB by the Reserve Bank of India (RBI).
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| Mizoram Governor Gen. (Dr) Vijay Kumar Singh (Retd) with officials from the Cooperation Department, NABARD and Mizoram Cooperative Apex Bank after discussions on the bank receiving RBI Scheduled Bank status, at Lok Bhavan, Aizawl. (Image: DIPR Mizoram) |
During the meeting, officials also deliberated on developmental initiatives aimed at strengthening the cooperative banking sector and expanding financial inclusion across Mizoram.
The Governor congratulated the Mizoram Cooperative Apex Bank for achieving the milestone, noting that the scheduled bank recognition would allow various state government departments to conduct official transactions through the bank. He also highlighted the important role cooperative banks play in serving common people and urged stakeholders to further strengthen the institution.
According to officials, the bank has been included in the Second Schedule of the RBI Act, 1934, as notified in the Gazette of India dated April 15, 2026.
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Established on July 31, 1982, the Mizoram Cooperative Apex Bank currently operates 35 branches and 45 ATMs across the state. The bank holds deposits of about ₹1,930 crore and has extended loans worth ₹1,272 crore, achieving a Credit-Deposit ratio of 66 percent, making it one of the top performers in loan disbursement in Mizoram’s banking sector.
The meeting was attended by officials including Udit Prakash Rai, Commissioner and Secretary of the Cooperation Department; John LT Sanga, Registrar of Cooperative Societies; Pankaja Borah, General Manager of NABARD; and representatives from MCAB including Chairman Lalnunsanga, Vice Chairman Lalrinchhana, Director Rosiamliana Ralte, CEO P. Lalsawmliana, and Deputy General Manager Vanlalhriata.
