The Board of Directors of Mizoram Cooperative Apex Bank Ltd. held its meeting on Wednesday at the bank’s Head Office in Tuikual, Aizawl, under the chairmanship of Lalnunsanga.
During the meeting, the Board reviewed various operational matters and approved several new bank policies. The Board also expressed satisfaction over receiving approval from the Reserve Bank of India (RBI) for the appointment of A. Lallungmuana as the bank’s Chief Executive Officer.
The Board sanctioned 108 loan applications amounting to Rs 25.56 crore. The approved loans include financing for agriculture, business activities, handholding initiatives, and church construction projects submitted by individuals and organizations.
As of now, Mizoram Cooperative Apex Bank operates through 35 branches across the state. The bank’s total deposits stand at Rs 1,928 crore, while its total loan portfolio is Rs 1,281 crore. The bank’s Credit-Deposit (CD) Ratio currently stands at 66.50 percent.