State Bank Of Sikkim Analysis
An overview of the organization (S.B.S) State Bank of Sikkim (SBS) functions as a treasury of the government and was established in the year 1968, by the ruling monarch. Currently, the bank functions as an autonomous body and does not come under the jurisdiction of the central bank of India. The bank has its headquarters in the capital of Sikkim, Gangtok. The bank is responsible for handling the treasury function of the state, under the jurisdiction of the state government. State Bank of Sikkim acts as a banker to the government of Sikkim and is responsible for receipts and payments of all government transaction. Beside, SBS also deals in deposits and advances from the public in general. The bank adopts a socially motivated strategy of building a good relationship with the
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It was established with the view of mobilizing capital for economic development and to stimulate trade and industry, and other diverse public purposes.
• Bank was responsible for carrying out all the receipts and payment of government transactions. As it evolved, the banking operations were extended to customer deposits as well as advances to the general public.
• The proclamation of 1968, established the bank with the shared capital of Rs 1 Crore divided into 100,000 shares of Rs 100 each.
• Initially, the office was set up in the capital of the state, Gangtok. Branches were later extended to other states. Currently, there are 40 branches in total.
• It initially started with the employee strength of 20 and has now extended to over 500 across all the branches.
Promoters
As per the proclamation of 1968, 51% of the share capital was held by the Government of Sikkim and the remaining share was held by united commercial Bank Ltd (UCO bank). Post nationalization of the UCO bank the Government of Sikkim took over the entire operation of the
It was established with the view of mobilizing capital for economic development and to stimulate trade and industry, and other diverse public purposes.
• Bank was responsible for carrying out all the receipts and payment of government transactions. As it evolved, the banking operations were extended to customer deposits as well as advances to the general public.
• The proclamation of 1968, established the bank with the shared capital of Rs 1 Crore divided into 100,000 shares of Rs 100 each.
• Initially, the office was set up in the capital of the state, Gangtok. Branches were later extended to other states. Currently, there are 40 branches in total.
• It initially started with the employee strength of 20 and has now extended to over 500 across all the branches.
Promoters
As per the proclamation of 1968, 51% of the share capital was held by the Government of Sikkim and the remaining share was held by united commercial Bank Ltd (UCO bank). Post nationalization of the UCO bank the Government of Sikkim took over the entire operation of the