Business EconomyPosted at: Oct 13 2026 9:12PM

Aizawl, Oct 13 (UNI) Mizoram aims to raise its credit-deposit ratio to 67 per cent by 2028-29, Chief Minister Lalduhoma said at the North East Bankers’ Conclave 3.0 in Aizawl today, urging banks to expand lending and improve access to financial services in rural areas.

The conclave, held at Mizoram University Auditorium under the theme “Fuelling the Growth Engine”, brought together union DoNER Minister Jyotiraditya Scindia, representatives of banks, financial institutions and officials from Northeastern states to discuss ways to increase credit flow and support economic development.

Lalduhoma said Mizoram’s credit-deposit ratio stood at 55.83% in 2025-26, compared with 73.52% in Assam, 61.1% in Nagaland and 61% in Tripura. He said the state needed stronger lending support for businesses, entrepreneurs and rural communities.

He urged banks to extend their reach beyond Aizawl into other districts and rural areas, pointing out that Mizoram had a high loan recovery rate. Banks should make better use of this record to expand lending, he said.

The chief minister stressed the need to strengthen micro, small and medium enterprises (MSMEs), which could create stable livelihood opportunities for farmers and skilled youth. The state government is partnering with five banks to implement its flagship Bana Kaih (Handholding) Scheme to support economic activities and create sustainable livelihoods.

He also said the government had signed an agreement on September 7 to introduce the “One Department, One Bank” initiative to improve coordination between departments and banks. Digital systems, including IFMIS, RBI’s e-Kuber and the Public Financial Management System, are being used to improve transparency and efficiency in public financial management. The government also plans to gradually phase out the cheque system.

Lalduhoma called for greater corporate social responsibility funding for the Northeast, saying the region received relatively little support compared with other parts of the country. He urged banks to become more responsive to credit needs so that entrepreneurs could expand and more people could secure sustainable livelihoods.

Scindia said the Northeast had considerable development potential because of its young workforce, high literacy and natural resources, but closer coordination between governments and banks was necessary to realise it.

Reviewing progress since the second North East Bankers’ Conclave in Agartala, he said 131 bank branches had been opened and 126 ATMs installed between December 2024 and March 2026. Of 9,479 villages identified for connectivity to banking and postal services, 6,905 had been covered, leaving 2,574 still to be connected.

To improve access, the minimum population requirement for opening a physical bank branch in the Northeast has been reduced from 3,000 to 2,000, he said. Scindia added that the Unified Payments Interface accounted for 90.2% of non-branch transactions in the region.

The conclave has set a target of raising Mizoram’s credit-deposit ratio to 67%, while Tripura’s target is 60%. Discussions were organised around four themes: last-mile banking access, loans, livelihoods and infrastructure.

Scindia called on participants to prepare 40 actionable recommendations across the four sessions, with clear timelines and measurable targets for implementation. The conclave’s afternoon programme included breakout sessions and discussions on follow-up measures.
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