Mizoram Minister Pu P.C. Vanlalruata on Thursday inaugurated a new branch of the Mizoram Urban Co-operative Development Bank at Bawngkawn West, Aizawl.
Mizoram Urban Co-operative Development Bank Ltd. (MUCO Bank) was established on November 11, 1988, and has its Head Office at Zarkawt, Aizawl.
Unlike many other cooperative banks, MUCO Bank functions under the supervision of both the Reserve Bank of India (RBI) and the Registrar of Cooperative Societies. As it is directly regulated by the RBI, inspection and regulatory oversight are carried out by the RBI authorities.
The opening of the new branch is expected to strengthen banking access and cooperative financial services in the Bawngkawn West area.
MUCO Bank provides a range of loan facilities, including Business Loans, Small Scale Industry Loans, Personal Loans, Motor and Two-Wheeler Loans, Festival Loans (particularly during Christmas), Education Loans, and Cash Credit facilities for business purposes.
