Industry Banking Founded 1968 | ||
Key people Mr. K.B. Chamling, ChairmanMr. Hem Kr. Chettri, Managing DirectorMr. Phurba Wangdi Bhutia, Chief General Manager Owner Autonomous body wholly owned by Government of Sikkim Type of business Public Sector Undertakings | ||
Live discussion on state bank of sikkim not under banking regulation act part 1
State Bank of Sikkim (SBS) is a state owned banking institution headquartered at Gangtok, Sikkim, India. The Bank operates within the jurisdiction of the State of Sikkim and in addition to banking services, State Bank of Sikkim handles treasury functions of State Government of Sikkim. The State Bank of Sikkim has completed 48 years (2015-2016) of existence during which it has continually worked in partnership with development projects in the state.
Contents
- Live discussion on state bank of sikkim not under banking regulation act part 1
- State bank of sikkim bank accounts allegedly has black money hoarders flocking to it
- History
- References
An autonomous body under the Government of Sikkim, it is not regulated by Reserve Bank of India unlike other banks in India. However, the Report of the Comptroller and Auditor General of India for the year ended March 2012 has recorded that the performance of State Bank of Sikkim generated 86 percent of the total profit earned by the state owned PSUs during the year.
State bank of sikkim bank accounts allegedly has black money hoarders flocking to it
History
State Bank of Sikkim was constituted and established in the year 1968 under the State Bank of Sikkim Proclamation, 1968. State Bank of Sikkim was initially headquartered at MG Marg, Gangtok and was later moved to the present location, where the Bank houses its Head Office as well as Main branch. Initially started with just one branch, today SBS has expanded to 40 branches (as of 2016-2017) in Sikkim.