Mizoram Chief Minister Lalduhoma has congratulated the Mizoram Cooperative Apex Bank after it was granted Scheduled Bank status by the Reserve Bank of India.
In a post on Facebook, the Chief Minister described the recognition as a landmark achievement for the state’s cooperative banking sector. He said the new status would help strengthen the cooperative movement in Mizoram and improve access to credit for people across the state.
“Heartiest congratulations to Mizoram Cooperative Apex Bank on being granted Scheduled Bank status by the Reserve Bank of India. This landmark achievement will strengthen the cooperative movement in Mizoram and expand access to credit across the state,” Lalduhoma said.
The Chief Minister also expressed gratitude to the Reserve Bank of India for granting the recognition and extended his best wishes to the entire team of the Apex Bank.
Scheduled Bank status allows a bank to access facilities from the RBI and enhances its credibility in the financial system, enabling it to expand services and support economic development more effectively.