What changed
RBI assigned lead bank responsibility for the newly formed Pakyong district in Sikkim to Central Bank of India. A district working code (01U) was allotted for BSR reporting. Lead banks for the erstwhile East Sikkim district and other districts remain unchanged.
What it means for you
Central Bank of India now coordinates banking development and financial inclusion in Pakyong district. Other banks operating there must align with its lead bank role for government schemes and credit planning. The new working code ensures accurate BSR data reporting for the district.
What you must do
- Update internal records to reflect Central Bank of India as lead bank for Pakyong district.
- Use district working code 01U for all BSR submissions related to Pakyong.
- Coordinate with Central Bank of India for district credit plans and financial inclusion initiatives.
Who it affects
Central Bank of India, Banks operating in Pakyong district, Sikkim, Lead banks of other Sikkim districts
Why was Pakyong district created?
The Government of Sikkim notified the formation of Pakyong as a new district via a gazette notification in December 2021.
Does this change affect lead banks of other Sikkim districts?
No, the RBI circular explicitly states there is no change in lead banks for the erstwhile East Sikkim district or any other district in Sikkim.
What is the district working code for Pakyong?
The district working code allotted for Pakyong is 01U, to be used for BSR reporting by banks.