RBI to develop Sikkim as a model banking state

The RBI today said it will take all necessary steps to develop Sikkim as a model banking state.

“All necessary steps will be taken to make Sikkim a model banking state. To start with, banking facilities would be made available to people in the nook and corner of the Himalayan State”, Deputy Governor K. C. Chakrabarty told reporters here after inaugurating the RBI office here.

“We are aware that the population here is scattered and spread over various parts of the mountainous state. The banks will be asked to reach out to all those people who do not have access to banks till date”, Chakrabarty said.

With the Chief Minister’s financial inclusion scheme underway proposing to provide bank accounts to all those people availing assistance from several schemes, the RBI Deputy Governor said that the commercial banks should prepare a plan in the next three years to provide banking facilities to the beneficiaries.

Chakrabarty also asked the banks and the civil society to increase the credit deposit ratio in Sikkim which at present stood at 46 per cent as against the national figure of 70 per cent.

In reply to a question that banks in Sikkim were reluctant to give credit to the people, he said all deserving people must be given credit by the banks.