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Lead Bank for Assam's New Biswanath District Assigned to Indian Bank

Current · Source: Reserve Bank of India · RBI/2024-25/35 · issued 15 May 2024 · ~1 min read
Quick answerRBI has assigned Indian Bank as the Lead Bank for Assam's newly formed Biswanath district, effective from the state's September 2023 gazette notification. No other district lead banks in Assam are affected.
The rule, in the simplest words
How it plays out — a real example

As the new Lead Bank for Biswanath district, a banking officer at Indian Bank will work closely with local authorities to ensure that all residents have access to banking services, including loans and savings accounts. This will help promote financial inclusion and support the district's economic growth. The officer will also coordinate with other banks operating in the district to ensure a smooth and efficient banking experience for customers.

What changed

The Government of Assam created Biswanath as a new district via a September 2023 gazette notification. RBI has now designated Indian Bank as the Lead Bank for this district, with a new district working code of 407. Lead bank responsibilities for all other Assam districts remain unchanged.

What it means for you

Indian Bank must now coordinate banking services, financial inclusion, and credit planning in Biswanath district. Other banks operating in Assam should note the new district's lead bank for any district-level coordination. This is a routine administrative update with no broader policy impact.

What you must do

Who it affects

Indian Bank (new Lead Bank for Biswanath), All banks operating in Assam's Biswanath district, Lead banks of other Assam districts (no change)

❓ Common questions

Why was Indian Bank chosen as Lead Bank for Biswanath?

The RBI circular does not specify the rationale, but lead bank assignments are typically based on the bank's existing presence and capacity in the region.

Does this affect lead bank arrangements in other Assam districts?

No, the circular explicitly states there is no change in the lead banks of other districts in Assam.

📜 Read the original circular — full text as issued by RBI
RBI/2024-25/35 FIDD.CO.LBS.BC.No.06/02.08.001/2024-25 May 15, 2024 The Chairman / Managing Director & Chief Executive Officer Lead Banks Concerned Madam/ Dear Sir, Formation of new district in the State of Assam – Assignment of Lead Bank Responsibility The Government of Assam has notified formation of a new district, viz., Biswanath in the state of Assam vide Gazette Notification ECF.No.367433/29 dated September 07, 2023. Accordingly, it has been decided to designate the Lead Bank of the new district as below: Sr No
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2024-25/35 · issued 15 May 2024. The plain-English explanation above is BankPulse’s own independent summary.
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Worked example & action-note template

Example: if you are a Compliance officer at a bank this circular applies to (Indian Bank (new Lead Bank for Biswanath), All banks operating in Assam's Biswanath district, Lead banks of other Assam districts (no change)), your first concrete step on “Lead Bank for Assam's New Biswanath District Assigned to Indian Bank” is: “Update internal records to reflect Indian Bank as Lead Bank for Biswanath district (code 407).” (RBI issued this 15 May 2024).

  1. Circular: RBI/2024-25/35 -- Lead Bank for Assam's New Biswanath District Assigned to Indian Bank
  2. Issued: 15 May 2024
  3. Action required: Update internal records to reflect Indian Bank as Lead Bank for Biswanath district (code 407).
  4. Action required: Coordinate with Indian Bank for any district-level banking or financial inclusion initiatives in Biswanath.
  5. Action required: Ensure no changes are made to lead bank arrangements for other Assam districts.
  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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Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12685&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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