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SBI Gets Lead Bank Role for Sikkim's New Soreng District

Current · Source: Reserve Bank of India · RBI/2022-23/177 · issued 13 Feb 2023 · ~1 min read
Quick answerRBI assigned State Bank of India as lead bank for Sikkim's newly formed Soreng district, carved from West Sikkim. A new district working code (01V) has been issued for BSR reporting. Lead banks for other Sikkim districts remain unchanged.
The rule, in the simplest words
How it plays out — a real example

As a lead bank officer in Soreng, Rohan will work closely with local government officials to ensure that banking services and credit schemes reach the people who need them most. He will also coordinate with other banks in the district to ensure that their BSR reports are submitted correctly using the new district code 01V.

What changed

RBI assigned lead bank responsibility for Soreng district (created from West Sikkim) to State Bank of India. A new district working code (01V) has been allotted for BSR reporting. No changes were made to lead banks of other districts in Sikkim.

What it means for you

SBI must now coordinate banking development and government schemes in Soreng district. Other banks operating in Soreng will report under the new district code for BSR submissions. This ensures structured financial inclusion and credit planning in the new district.

What you must do

Who it affects

State Bank of India (lead bank for Soreng), All banks with branches in Soreng district, Banks reporting BSR data for Sikkim

❓ Common questions

What is the new district working code for Soreng?

The code is 01V, as assigned by RBI for BSR reporting purposes.

Does this change affect lead banks for other Sikkim districts?

No, lead banks for all other districts in Sikkim remain unchanged.

When was Soreng district officially formed?

The Government of Sikkim notified its formation on December 20, 2021.

📜 Read the original circular — full text as issued by RBI
RBI/2022-23/177 FIDD.CO.LBS.BC.No.18/02.08.001/2022-23 February 13, 2023 The Chairman / Managing Director & Chief Executive Officer Lead Banks Concerned Madam/ Dear Sir, Formation of new district in the State of Sikkim – Assignment of Lead Bank Responsibility The Government of Sikkim, vide Gazette Notification No.50/LR&DMD/ACQ/GOS dated December 20, 2021, had notified formation of a new district in the state of Sikkim. It has been decided to assign the lead bank responsibility of the new district, Soreng, as under: Sr No
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2022-23/177 · issued 13 Feb 2023. The plain-English explanation above is BankPulse’s own independent summary.
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Who does what — compliance checklist
🏦 Branch Manager
  • Align branch-level credit plans and financial inclusion targets for Soreng district.
💻 IT / Systems
  • Update internal systems with new district code 01V for Soreng in BSR reporting.
📜 Compliance
  • Coordinate with SBI (lead bank) for district-level banking committee meetings and scheme implementation.
Grouped from the action items above — a single circular may involve more than one team.
Worked example & action-note template

Example: if you are an IT/Systems lead at a bank this circular applies to (State Bank of India (lead bank for Soreng), All banks with branches in Soreng district, Banks reporting BSR data for Sikkim), your first concrete step on “SBI Gets Lead Bank Role for Sikkim's New Soreng District” is: “Update internal systems with new district code 01V for Soreng in BSR reporting.” (RBI issued this 13 Feb 2023).

  1. Circular: RBI/2022-23/177 -- SBI Gets Lead Bank Role for Sikkim's New Soreng District
  2. Issued: 13 Feb 2023
  3. Action required: Update internal systems with new district code 01V for Soreng in BSR reporting.
  4. Action required: Align branch-level credit plans and financial inclusion targets for Soreng district.
  5. Action required: Coordinate with SBI (lead bank) for district-level banking committee meetings and scheme implementation.
  6. Owner: ____________ Target date: ____________
  7. Board/committee approval needed? Y / N
  8. Evidence filed in compliance register on: ____________
Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.

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BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly).
Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12453&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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