August 11, 2020: Mizoram Rural Bank (MRB) Chairman Pu V. Jayachandra inaugurated 87th Branch of Mizoram Rural Bank Farkawn Branch in Farkawn today.
The inauguration was witnessed by a selective gathering due to safety precaution against the Covid-19 pandemic. Pu V. Jayachandra expressed that the new branch being opened will benefit many govt employees, private institution employees, farmers, shop keepers etc within and nearby Farkawn village and urged the neighbouring villages to utilise the bank for their development.
Mizoram Rural Bank opened under Regional Rural Bank Act (1976) on 27th September, 1983 now have 87 branches including the newly opened Farkawn Branch and is covering all the RD blocks within the state. All the branches are connected by CBS since 2011.
Out of 27 banks operating in the State (14 Public Sector Banks, 10 Private Sector Banks, 2 Co-operative Banks and 1 Regional Rural Bank), Mizoram Rural Bank has a market share of 27.68% in deposits and 31.03% in advances during FY 2019-20.
Position of MRB during FY 2019-20:
Total Deposits - 3,478.13 crore
Total Advances - 1,535.43 crore
Total Business - 5,013.56 crore
Profit - 13.31 crore
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