PREVIOUS
✖
State Bank of Sikkim under RBI
February 25 , 2021
1372 days
1147
0
- RBI has brought State Bank of Sikkim under its regulatory purview.
- It was not regulated by Reserve Bank of India unlike other banks till now.
- Till now, RBI had the right and obligation to function as banker to all the state government except for the state government of Sikkim.
- Now the bank will be regulated by the RBI on a par with other banks
- However, the bank’s ownership structure will not change.
State Bank of Sikkim
- It was established in 1968, as an autonomous body.
- It was wholly owned by Government of Sikkim.
- It was established under the State Bank of Sikkim Proclamation 1968.
- The bank provides treasury operations for the state government.
- It operates only within the jurisdiction of Sikkim.
Leave a Reply
Your Comment is awaiting moderation.