|Loan la te tana hriattur|

The Beginning

“A dedicated group of Cooperators with missionary zeal strongly backup and supported by the then Mizoram State Government, imbued with the spirit of service to the cause of Mizo people and for promoting of the economy of Mizoram in general, and hitherto neglected economically weaker sections of society of people living in urban and villages started Mizoram Cooperative Apex Bank Ltd. in 1982, with a small share capital of Rs. 16.53 lakhs ” The whole area of Mizoram and its surrounding area were predominantly populated by small agriculturist and low income group since many years back. Therefore, the Mizoram Cooperative Apex Bank Ltd. was established with the motto of ‘Prosperity through Cooperation for Mizoram and its People”

A Forward March

The Bank started its operation on 31st July, 1982 with a small dedicated and hard working number of just 16 staffs under the dynamic leadership and guidance of Shri V.G. Reddy. The Bank over a span of 30 years became one of the leading Banks in the state with branches in Saiha, Lawngtlai, Lunglei, Champhai, Serchhip, Kolasib, Mamit, Main Branch, Dawrpui Branch, New Market Branch, Bawngkawn Branch and Cooperative Centenary Branch. On 6th November, 1981 the Bank was registered and permitted to do banking business in the State of Mizoram Vide. RBI License No. ACD-MS-35-5. Dt. 6.11.1981. The area of operation of the bank is confined to the whole state of Mizoram. Due to its being the only Bank that can give loan to Churches in the State for construction of more than 1,000 churches to various denominations, the name of the Bank has now become the house hold name in the State. Moreover, with 100% of its staffs recruited from the length and breadth of the State, it has a unique advantage of not facing any language barrier or communication problem with the general masses of the population. Therefore, the Mizoram Cooperative Apex Bank Ltd is not only lagging behind but moving ahead of other Banks operating in the State currently.

The Objects for which the Bank is established are,

  1. to promote the economic interest of the members of the Bank in accordance with cooperative principles,
  2. to receive deposits and borrow sums of money as required for the purpose of the Bank,
  3. to grant loans and advances to all sections of the people in Mizoram in general and rural poor in particular through cooperative principles, etc, etc.

The management of the Bank is vested with the Board of Directors, who are elected by the Share holder Cooperative Societies, at the General Assembly for a period of five years. The Bank is having 1037 share holder Cooperative Societies with the Government of Mizoram as on 30.09.2013. The present total staff strength of the Bank is 166.

The administrative head is the Chief Executive Officer (CEO) of the Bank and is assisted by the Additional Managing Director, General Manager, two Deputy General Managers and Assistant General Managers. The functions of Head Office are divided into seven Departments headed by Asst. General Managers; a department into Cells headed by Managers and cells into Sections headed by Deputy Managers as given below:-

  1. Administration Department.
  2. Finance Department
  3. Planning & Monitoring Department.
  4. Loans & Advances Department.
  5. Inspection & Audit Department.
  6. Banking Operation Department.
  7. Information & Technology Department.

Each Department is divided into Cells and each Cell is again divided into Sections. The Vigilance Cell is dealt by the CEO as a separate Cell.

The total number of branches, including Head Office and Assets Recovery Management (ARM) Branch stood at 14 as on 30.09.2013. All the Branches are in eight District headquarters, ie. six Branches and Head Office in Aizawl, the state capital and other seven branches are located in the seven District Headquarters. Branches with their location and date of opening are as given below:-

Sl. No Name of Branch & Address Branch Category Date of opening Manager Category
1 Main Branch : Treasury Square Aizawl IV 31 . 07 .1982 SMG V
2 Lunglei Branch : Lunglei Venglai, III 20 . 02 .1986 MMG IV
3 Champhai Branch : Champhai II 04 . 08 .1986 MMG III
4 Dawrpui Branch : Bara Bazra Aizawl III 11 . 08 .1986 MMG IV
5 Saiha  Branch : Council veng , Saiha III 23 . 10 .1986 MMG IV
6 Kolasib Branch : Diakkawn Kolasib II 03 . 03 . 1988 MMG III
7 Serchhip Branch : Serchhip Bazar II 14 . 07 .1989 MMG III
8 Lawngtlai Branch : Lawngtlai II 15 .11 .1990 MMG III
9 New Market Branch : Aizawl III 28 . 05 . 1993 MMG IV
10 A R M  Branch, HO : Aizawl 30 . 07. 1999 MMG III
11 Bawngkawn Branch : Aizawl II 06 .11 . 2000 MMG III
12 Coop.Centenary Branch: Mission veng III 09 . 09 .2004 MMG IV
13 Mamit  Branch : Mamit II 18 . 06 .2010 MMG III
14 New Secretariat  Branch : New Capital Complex II 20 . 06 .2015 MMG III
15 Zarkawt  Branch : Zarkawt I 20 . 02 .2016 JMG
16 Khawzawl  Branch : Khawzawl I 20 . 06 .2017 JMG
17 Zobawk  Branch : Zobawk I 21 . 06 .2017 JMG
18 Vaivakawn  Branch : Vaivakawn I 21 . 07 .2018 JMG
19 Hnahthial  Branch : Hnahthial I 27 . 08 .2019 JMG
20 Thuampui  Branch : Thuampui I 30 . 10 .2019 JMG
21 Keifang  Branch : Keifang I 16 . 07 .2020 JMG
22 Dinthar  Branch : Dinthar I 18 . 01 .2021 JMG

Branches of the Bank are categorized into four categories on the basis of business volume for the last three years as prescribed here under:-

Sl. No Category of Branch Business Level of Branch
1 I Upto Rs 30 Crores
2 I I Above Rs 30 Crores up to Rs 80 Crores
3 I I I Above Rs 80 Crores up to Rs 180 Crores
4 IV Above Rs 180 Crores

There are three categories of employees

  1. Officers.
  2. Clerical.
  3. Subordinate.

These are further categorized as four grades of Officers, two grades of Assistant and two grades of Subordinate. Grading / Categorization of Officers and Staff are as given below:-

I. Officers Grade

Sl. No Grades / Category (Employee Level) Short Form
A Special Grade - IX S P G - IX
Special Grade - VIII S P G - VIII
Special Grade - VII S P G - VII
B Senior Management Grade - VI S M G - VI
Senior Management Grade - V S M G - V
C Middle Management Grade - IV M M G - IV
Middle Management Grade - III M M G - III
D Junior Management Grade - II J M G - II
Junior Management Grade - I J M G - I

II. Clerical Grade

A Assistant Grade I A G  I
B Assistant Grade  II A G  II

III. Subordinate Grade

A Subordinate  Grade  I S G  I
B  Subordinate  Grade  II S G  II