Aizawl, May 2
Mizoram Chief Minister Lalduhoma on Saturday stressed the need to enhance financial literacy across the state, particularly in rural areas, and underscored the importance of accessible and efficient banking services for the people.
The Chief Minister attended the Mizoram Rural Bank Branch Managers' Conclave 2026 on Saturday in Aizawl.
Addressing the conclave, he expressed pride that Mizoram possesses one of the most progressive Regional Rural Banks in India. He commended Mizoram Rural Bank for its consistent growth and achievements, particularly highlighting its outstanding Credit-Deposit ratio.
He noted that a high Credit-Deposit ratio reflects the bank's commitment to channelling deposits back into the community through loans, which is essential for economic development.
The Chief Minister emphasised that branch managers play a crucial role in implementing government policies at the grassroots level, especially flagship programmes such as Bana Kaih Hand Holding.
He stated that the bank has immense potential to contribute to the state's development and expressed high expectations for its continued performance. He urged Mizoram Rural Bank to sustain its commendable work while expanding its outreach to better meet public needs.
Congratulating the bank on its remarkable performance over the past year, the Chief Minister assured that the government would continue to extend full support to Mizoram Rural Bank in its growth and service to the people.
Sheryl L. Vanchhong, Chairman of Mizoram Rural Bank, spoke about the bank's progress over the past year and expressed gratitude to the Chief Minister for his presence.
Established on September 27, 1983, Mizoram Rural Bank is jointly owned by the Government of India (15 per cent share), State Bank of India (35 per cent share), and the Mizoram government (50 per cent share).
The bank currently operates 2 Regional Offices and 106 branches, of which 60 are located in rural areas, and employs 491 employees.
During the last financial year, Mizoram Rural Bank recorded deposits of Rs 6,526.10 crore, exceeding its target by Rs 682.11 crore, with a growth rate of 11.26 per cent.
Total advances stood at Rs 4,129.98 crore, surpassing the target by over Rs 300 crore.
The bank posted a net profit of Rs 152.27 crore, with a Credit-Deposit ratio of 63.28 per cent, the highest in Mizoram.
The bank's total business turnover reached Rs 10,656.08 crore, averaging Rs 100 crore per branch, placing Mizoram Rural Bank among only four Regional Rural Banks in India to achieve this milestone.
Notably, 97.36 per cent of its total transactions are conducted digitally, the highest in Northeast India and the second-highest in the country.
Under the state government's Bana Kaihah programme, Mizoram Rural Bank has disbursed 279 loans, accounting for 59.35 per cent of applications received from partner banks under handholding initiatives.
- IANS
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