Aizawl: The Chakma Autonomous District Council (CADC) has endorsed a proposal to establish a branch of the Mizoram Cooperative Apex Bank (MCAB) at Kamalanagar, citing inadequate banking facilities in the area and the need to improve access to credit for residents and businesses.
CADC Chief Executive Member Nirupam Chakma said the existing branches of the State Bank of India (SBI) and Mizoram Rural Bank (MRB) were insufficient to meet the banking needs of the area’s large population.
The proposal was discussed at a meeting held at the CADC Art and Culture Hall in Kamalanagar on Thursday. The meeting was chaired by CADC Executive Secretary Pronit Bikash Chakma and attended by MCAB Chairman Lalnunsanga, council members, officials, staff and representatives of cooperative societies.
Nirupam Chakma said the need for additional banking facilities extended beyond Kamalanagar to other populous areas, including Longpuighat, Borapansury, New Jagnasury and Parva. He said improved road connectivity could encourage banks to expand their services to these areas.
The CEM also stressed the need to promote self-employment among local youth, noting that jobs within the CADC administration alone would not be sufficient to meet the growing demand for employment.
Referring to the Mizoram government’s Bana Kaih policy, he identified agriculture, tourism, veterinary services, fisheries, small-scale industries, handloom and handicrafts as sectors with potential to support livelihoods in the council area.
He said the CADC would encourage young people to pursue entrepreneurship, facilitate skill development and help them access financial assistance from banks and other institutions. The council would also extend the necessary cooperation to establish the proposed MCAB branch, he added.
MCAB Chairman Lalnunsanga described the CADC area as an important commercial hub and said there was scope for cooperation to expand employment and business opportunities.
He expressed hope that the proposed branch would improve access to credit, help residents become financially self-reliant and enable existing businesses to expand.
Earlier, the MCAB team interacted with shareholder members of cooperative societies at the Tourist Lodge in Kamalanagar.