Sikkim CM inaugurates new State Bank of Sikkim branch in Namchi district

Sikkim Chief Minister Prem Singh Tamang inaugurated a new branch office of the State Bank of Sikkim (SBS) at Maniram Bhanjyang in Namchi district on Monday. The move is aimed at providing better banking facilities to the local community, enhancing financial inclusion, and promoting economic sustainability.

Expressing his delight at the inauguration, the Chief Minister said, "This initiative aims to provide convenient banking services to the local community, fostering financial inclusion and promoting economic sustainability through greater awareness and accessibility."

Established in 1968, the State Bank of Sikkim is an autonomous financial institution under the Government of Sikkim. The bank has a total of 42 branch offices and three revenue counters, bringing the total number of operational locations to 45, including its headquarters in Gangtok.

The bank operates exclusively within Sikkim and plays a vital role in handling the state’s treasury functions. Over the years, SBS has expanded its services and now operates on a Core Banking System (CBS) platform, ensuring seamless banking for its customers. The institution is managed by a Board of Directors, with the Managing Director serving as the Chief Executive.

Since its inception, the State Bank of Sikkim has been an important partner in the state's overall development. In 2018, the bank celebrated its Golden Jubilee, marking 50 years of service.