83rd State Level Bankers’ Committee Meeting held in Gangtok; focus on financial inclusion and banking expansion in Sikkim

The 83rd State Level Bankers’ Committee (SLBC) Meeting for the quarter ending March 2025 was held today at a local hotel in Gangtok. Convened by the State Bank of India, Sikkim, the meeting brought together key officials from banks, government departments, and financial institutions to review and discuss the progress of banking and financial inclusion across the state.

The meeting featured detailed discussions on a range of important issues, including the expansion of banking and insurance services, implementation of flagship government schemes, credit flow, and efforts to enhance financial literacy among the people of Sikkim.

Chairing the meeting, Mr Jitendra Singh Raje, Commissioner cum Secretary of the Urban Development Department, praised the state’s administrative efficiency and its positive approach towards financial inclusion. He highlighted successful execution of several central government schemes and urged banks to increase efforts to promote financial literacy, especially in rural and border areas.

Mr Surinder Kumar, Under Secretary (Financial Inclusion) from the Department of Financial Services, Ministry of Finance, Government of India, acknowledged Sikkim’s notable performance in these areas. He emphasized the importance of raising awareness about various financial schemes using innovative methods such as street plays and radio jingles. He expressed confidence that Sikkim would continue to strengthen its banking outreach and financial literacy programs.

The meeting’s agenda covered critical topics such as the status of bank branches and ATMs, credit-deposit ratio, performance under the Annual Credit Plan, priority sector lending, achievements in agriculture, MSMEs, housing finance, education loans, and progress of government-sponsored schemes like PMEGP, PM-SVANidhi, and MUDRA.

Officials also discussed the promotion of Self Help Groups, rural self-employment training, and social security schemes. The meeting noted improvements in banking services in districts such as Soreng, including the deployment of Banking Correspondents and Customer Service Points to enhance access.

Among the attendees were Secretary of Finance, Revenue and Expenditure Department Mr MCP Pradhan, Regional Manager of SBI Mr Kumar Nitesh, General Manager of SBI Mr Sunil Kumar Singh, NABARD’s General Manager Mr Ajay Kumar Singh, Deputy General Manager of State Bank of Sikkim Mr Virendra Singh, along with representatives from various banks.