Aizawl, May 2: Mizoram Chief Minister Lalduhoma highlighted the urgent need to enhance financial literacy across the state, particularly in rural areas. He emphasized the importance of accessible and efficient banking services for the community.
The Chief Minister spoke at the 2026 conference of branch managers of Mizoram Rural Bank held in Aizawl on Saturday. He expressed pride in Mizoram being home to one of India’s most progressive regional rural banks. He commended the continuous growth and achievements of Mizoram Rural Bank, particularly praising its impressive loan-to-deposit ratio.
He noted that a high loan-to-deposit ratio reflects the bank’s commitment to reinvesting deposits back into the community, which is essential for economic development. The Chief Minister stressed the crucial role branch managers play in implementing government policies at the grassroots level, especially in key initiatives like the Bana Kaih Handholding scheme.
He stated that the bank has immense potential to contribute to the state’s development and expressed high hopes for its continued improvement. He urged Mizoram Rural Bank to expand its reach to better meet the needs of the public while maintaining its commendable efforts.
Congratulating the bank for its outstanding performance last year, the Chief Minister assured that the government would continue to fully support the growth and public service of Mizoram Rural Bank.
Chairperson Sheril L. Vanchong of Mizoram Rural Bank reported on the bank’s progress over the past year and expressed gratitude for the Chief Minister’s presence. Established on September 27, 1983, Mizoram Rural Bank is co-owned by the Government of India (15% stake), State Bank of India (35% stake), and the Mizoram Government (50% stake).
The bank currently operates two regional offices and 106 branches, with 60 located in rural areas, employing 491 staff members. In the last financial year, Mizoram Rural Bank recorded deposits of ₹6,526.10 crore, exceeding its target by ₹682.11 crore, with a growth rate of 11.26%.
Total loans amounted to ₹4,129.98 crore, surpassing the target by over ₹300 crore. The bank earned a net profit of ₹152.27 crore, achieving a loan-to-deposit ratio of 63.28%, the highest in Mizoram. The total business of the bank reached ₹10,656.08 crore, with an average business of ₹100 crore per branch. This achievement places Mizoram Rural Bank among the four regional rural banks in India to reach this milestone.
My name is Narendra Jijhontiya. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including TECHNOLOGY, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
Leave a Comment