Aizawl, Aug 19 (PTI): The Mizoram government has decided to set up a development finance corporation to provide easier access to credit for beneficiaries of the state’s flagship programme, an official said on Wednesday.
A meeting of the Council of Ministers chaired by Chief Minister Lalduhoma on Tuesday approved a proposal to set up the Mizoram Development Finance Corporation, aimed at fulfilling the government’s manifesto commitment to establish a development bank and facilitate easier access to credit for beneficiaries of the flagship ‘Bana Kaih’ or handholding scheme, as well as entrepreneurs, he said.
The institution will function as an independent body and will not be directly under government control, according to the official.
The meeting also decided to constitute an interim committee to work out the necessary steps and arrangements for establishing the corporation.
The committee will subsequently submit recommendations on the measures required to formally set up the institution, he said.
The Council of Ministers also decided to review and simplify existing rules governing provincialisation, or full government takeover, of schools.
The government will undertake a detailed assessment of the financial implications of the proposed changes before bringing the matter back before the Council of Ministers for further consideration, the official said. The meeting also approved a series of rules under the Mizoram Viksit Bharat: Guarantee for Rozgar and Ajeevika Mission (Gramin) (VB: GRAM-G), including provisions on grievance redressal, the mission fund, the State Gramin Rozgar Guarantee Council, compensation for delayed wage payments and payment of unemployment allowance.
The Cabinet further approved the Mizoram Shops and Establishments (Regulation of Employment and Conditions of Service) (Amendment) Bill, 2026, along with draft amendments to the Mizoram Medical Council Act and the Mizoram State Medical Council Rules, he said.
