{
  "type": "article",
  "title": "Eight banks join Mizoram's new one-department-one-bank scheme to track government money",
  "summary": "Mizoram's government has signed a pact with eight banks to launch the 'One Department, One Bank' system, aimed at giving the Finance Department clearer oversight of departmental funds.",
  "content": "Mizoram's government has entered into a fresh pact with eight banks, rolling out a scheme called 'One Department, One Bank' (ODOB) that is meant to tighten oversight of how public money is handled across departments. The pact is intended to give the Finance Department clearer, faster visibility into money sitting in departmental accounts across the state. The agreement was inked on Monday at the CM Conference Hall, with Chief Minister Lalduhoma and Adviser to the Chief Minister for Finance and Planning, TBC Lalvenchhunga, present for the signing.\n\nGaps flagged by CAG audits\nLalduhoma explained that the move follows repeated observations from Comptroller and Auditor General of India audit reports, which found large sums of government money sitting in accounts held by Drawing and Disbursing Officers, often without the Finance Department even being aware of it. He said that whenever the department tried to obtain details of such holdings, the responses it received were not always complete. \"We have decided to implement the 'One Department, One Bank' system,\" he said, describing it as a way to plug that gap and monitor public funds more closely.\n\nEight departments to begin with\nAccording to the Chief Minister, ODOB will cover eight departments in its first phase, with more departments expected to be brought under the system over time as required. Exactly which department will bank with which lender has not yet been decided; officials indicated that the department-wise mapping should be finalised shortly. The eight lenders on board are State Bank of India, Axis Bank, HDFC Bank, ICICI Bank, Union Bank of India, Indian Overseas Bank, Mizoram Rural Bank and Mizoram Cooperative Apex Bank.\n\nSome schemes may stay outside the new system\nOfficials at the event also pointed out that certain existing schemes already run on their own Standard Operating Procedures for handling and moving funds. Where those established arrangements would make it impractical to fold a scheme into ODOB, it may simply be left outside the new framework rather than forced to fit it.\n\nA push to lift Mizoram's Credit-Deposit Ratio\nLalduhoma used the occasion to flag another number he wants banks in the state to work on: Mizoram's Credit-Deposit Ratio, which remains well below the national average. Figures shared at the event put the 2025-26 CD Ratio at 73.52 percent in Assam, 61.1 percent in Nagaland and 61 percent in Tripura, against just 55.83 percent in Mizoram. The Chief Minister said his government wants to push that figure to at least 67 percent by 2028-29, and urged the banks working in Mizoram to help push toward that goal.\n\nWhat this means for you\nFor most people outside Mizoram, this is mainly a signal that state governments are tightening how they track public money, but for anyone dealing with Mizoram's state departments or banking in the state, it carries direct consequences.\n\n• Across India: The one-department-one-bank model is the kind of financial-discipline measure other state governments often study and copy. If it works in Mizoram, expect similar fund-tracking rules to show up elsewhere.\n• In Mizoram: Government employees and contractors dealing with the eight departments covered first may eventually see their department's payments routed through a single designated bank instead of scattered accounts.\n• Bank customers in Mizoram: State Bank of India, Axis Bank, HDFC Bank, ICICI Bank, Union Bank of India, Indian Overseas Bank, Mizoram Rural Bank and Mizoram Cooperative Apex Bank are all in line to handle designated government accounts, which could mean more government business flowing through their branches.\n• Credit availability: With the government pushing banks to raise the Credit-Deposit Ratio to 67 percent by 2028-29, residents and businesses in Mizoram could see banks compete harder to extend loans locally rather than parking deposits elsewhere.\n\nQuestions & Answers\n\n1. What is the 'One Department, One Bank' scheme?\nIt's an initiative under which each Mizoram government department is linked to a single designated bank, making it easier for the Finance Department to monitor how public funds are held and moved.\n\n2. When was the agreement signed?\nThe agreement was signed on Monday at the CM Conference Hall.\n\n3. Which banks are involved?\nState Bank of India, Axis Bank, HDFC Bank, ICICI Bank, Union Bank of India, Indian Overseas Bank, Mizoram Rural Bank and Mizoram Cooperative Apex Bank.\n\n4. How many departments will the scheme cover initially?\nEight departments will be covered in the first phase, with more to be added over time.\n\n5. Why was the scheme introduced?\nCAG audit reports repeatedly found large government fund balances in Drawing and Disbursing Officers' accounts that the Finance Department was not fully aware of.\n\n6. Will every scheme be brought under ODOB?\nNo, schemes that already have their own Standard Operating Procedures for fund management may be kept outside the system if implementation is impractical.\n\n7. What is Mizoram's current Credit-Deposit Ratio?\nIt stood at 55.83 percent for 2025-26, compared with 73.52 percent in Assam, 61.1 percent in Nagaland and 61 percent in Tripura.\n\n8. What CD Ratio target has the government set?\nThe government wants to raise Mizoram's CD Ratio to at least 67 percent by 2028-29.",
  "url": "https://trendkia.com/en/mizoram/mizoram-men-sarakari-phnda-para-najara-rakhane-ke-lie-atha-bainkon-ke-satha-nai-vyavastha-lagu-29021",
  "category": "Mizoram",
  "publishedAt": "2026-09-07",
  "tags": [
    "Mizoram",
    "One Department One Bank",
    "CAG audit",
    "Credit Deposit Ratio",
    "government fund monitoring",
    "Lalduhoma"
  ],
  "language": "en",
  "site": "TrendKia"
}