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 I 31 . 07 .1982 SMG II
2 Lunglei Branch : Lunglei Venglai, I 20 . 02 .1986 SMG II
3 Champhai Branch : Champhai I 04 . 08 .1986 SMG II
4 Dawrpui Branch : Bara Bazra Aizawl I 11 . 08 .1986 SMG II
5 Saiha  Branch : Council veng , Saiha I I 23 . 10 .1986 MMG I
6 Kolasib Branch : Diakkawn Kolasib I I I 03 . 03 . 1988 MMG II
7 Serchhip Branch : Serchhip Bazar I I I 14 . 07 .1989 MMG II
8 Lawngtlai Branch : Lawngtlai I I 15 .11 .1990 MMG I
9 New Market Branch : Aizawl I 28 . 05 . 1993 SMG II
10 A R M  Branch, HO : Aizawl II 30 . 07. 1999 MMG I
11 Bawngkawn Branch : Aizawl I I I 06 .11 . 2000 MMG II
12 Coop.Centenary Branch: Mission veng I I 09 . 09 .2004 MMG I
13 Mamit  Branch : Mamit I V 18 . 06 .2010 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 Above Rs 66 Crores
2 I I Above Rs 36 Crores up to Rs 65 Crores
3 I I I Above Rs 16 Crores up to Rs 35 Crores
4 IV Upto 15 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 S G
B Senior Management Grade  I S M G  I
Senior Management Grade  II S M G  II
C Middle Management Grade  I M M G  I
Middle Management Grade  II M M G  II
D Junior Management Grade J M G

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