State Bank of Sikkim under Reserve Bank of India's regulatory purview

The Reserve Bank of India (RBI) has brought State Bank of Sikkim under its regulatory purview. 

The bank, established five years before Sikkim acceded to India in 1973, provides treasury operations for the state government. It only operates within Sikkim and is wholly-owned by the state government.

The bank currently has 42 branch offices and operates three revenue counters for government works. The bank’s ownership structure will not change, but it will be regulated by the RBI on a par with other banks. 

Emails sent to the bank and the state government did not get any response.

For years, the