What changed
Two new districts, Ramgarh and Khunti, were formed in Jharkhand via a government gazette notification on September 12, 2007. RBI has assigned the Lead Bank responsibility for both new districts to Bank of India effective May 06, 2008. The Lead Bank for the reorganised Hazaribagh and Ranchi districts remains Bank of India, with no changes for other districts.
What it means for you
Bank of India must now coordinate banking services and credit planning for Ramgarh and Khunti districts. Other lead banks in Jharkhand face no operational changes. This ensures district-level financial inclusion and development efforts are aligned with the new administrative boundaries.
What you must do
- Bank of India should update its internal records to reflect Lead Bank responsibility for Ramgarh and Khunti districts.
- Other lead banks in Jharkhand can continue existing district-level operations without any changes.
- All banks should note the new district boundaries for any future credit or financial inclusion planning.
Who it affects
Bank of India (Lead Bank for Ramgarh and Khunti districts), All lead banks in Jharkhand, Banks operating in Hazaribagh and Ranchi districts
When did the new districts come into effect?
The new districts, Ramgarh and Khunti, were formed effective September 12, 2007, as per the Jharkhand government's gazette notification.
When did the Lead Bank assignment take effect?
The Lead Bank assignment for Ramgarh and Khunti districts to Bank of India took effect on May 06, 2008, the date of the RBI circular.