344/2026-2027

Aizawl, 7 September 2026: The Government of Mizoram today signed an agreement with eight banks for implementing the ‘One Department, One Bank’ (ODOB) initiative in the State. The agreement was signed in the presence of Chief Minister Mr. Lalduhoma and Adviser to the Chief Minister (Finance & Planning), Mr. TBC Lalvenchhunga, at the CM Conference Hall.

Speaking on the occasion, Chief Minister Mr. Lalduhoma said that the Comptroller and Auditor General of India (CAG) Audit Reports have repeatedly highlighted instances where substantial government funds were kept in the accounts of Drawing and Disbursing Officers (DDOs) without the knowledge of the Finance Department. “When the Finance Department seeks information on such funds, there are occasions when the information cannot be sufficient as desired. To address such difficulties and enable more effective monitoring of government funds, we have decided to implement the ‘One Department, One Bank’ system,” the Chief Minister said.

He said the initiative would initially cover eight departments, with additional departments to be brought under the system progressively, as required. “This is a new initiative in the management of public finances. It will bring greater transparency and help the Government monitor and manage its funds more effectively. We are grateful to the banks that have come forward to partner with us in this initiative,” he said.

The Chief Minister also highlighted Mizoram’s relatively low Credit-Deposit (CD) Ratio, noting that the State continues to remain well below the national average. In the North-Eastern region, the CD Ratio for 2025-26 stood at 73.52% in Assam, 61.1% in Nagaland and 61% in Tripura, while Mizoram recorded 55.83%. He said the Government aims to raise Mizoram’s CD Ratio to at least 67% by 2028-29, and called upon banks operating in the State to make concerted efforts towards achieving the target.

The eight banks partnering with the Government under the ‘One Department, One Bank’ initiative are:

State Bank of India
Mizoram Cooperative Apex Bank
Mizoram Rural Bank
Axis Bank
HDFC Bank
ICICI Bank
Union Bank of India
Indian Overseas Bank

Mr. Vanlaldina Fanai, Commissioner & Secretary, Finance Department, signed the agreement on behalf of the Government of Mizoram, while authorised representatives of the participating banks signed on their respective behalf.

The eight departments initially selected for the initiative are Public Works Department (PWD), Public Health Engineering Department (PHE), Power & Electricity Department (P&E), General Administration Department (GAD), including all Deputy Commissioners, Urban Development & Poverty Alleviation Department (UD&PA), Rural Development & Administration Department (RD&AD), Health & Family Welfare Department (H&FW), and the Institutional Finance & State Lottery (IFSL).

The specific mapping of departments with the respective banks is yet to be finalised and is expected to be completed shortly. It was also informed that certain schemes already have their own Standard Operating Procedures (SOPs) governing the flow and management of funds. Such schemes may be kept outside the scope of the ‘One Department, One Bank’ initiative where their existing arrangements make implementation under the ODOB system impractical.