Co-operation Department Minister Shri C. Lalrinsanga today inaugurated a new Branch of Mizoram Cooperative Apex Bank (MCAB), Thuanpui Branch at AMC Building at Thuampui. He also inaugurated a new ATM Booth of the Bank within the premises.

In his speech, Shri C. Lalrinsanga expressed happiness at the bank’s growth in the last 15 years and commented that the Bank was doing well. He remarked that credit societies are in integral part of the cooperative movement and the hand holding and guidance of primary societies under the tutelage of state level societies must be done with outmost care and zeal. He highlighted that in an agrarian based economy like Mizoram there a lot of linkage between banking and agriculture and with more money in the hands of agriculturists the banking sector too can grow and this in turn can help the economy of Mizoram grow further, he added. Aizawl Municipal Corporation Mayor Shri Pu P.C. Lalhmingthanga also spoke on the occasion and expressed hope that the Bank will be a useful entity for the Corporation as well as the people of the nearby areas.

Mizoram Cooperative Apex Bank was set up in 1982 with a corpus of Rs. 82 lakhs. The transactions have risen to Rs. 1151 crores and they now have 20 branches across the state with more than 200 employees.