The Reserve Bank of India (RBI) plays a pivotal role in shaping India’s financial landscape, particularly in the allocation of lead bank responsibilities. In a recent development, the formation of Tamulpur district in Assam has prompted RBI to designate the State Bank of India (SBI) as its lead bank. This article delves into the implications and intricacies of this decision.
Detailed Analysis
1. Government Notification: The genesis of this decision lies in the official notification issued by the Government of Assam, dated September 07, 2023. Tamulpur district’s formation necessitated a reevaluation of lead bank assignments to ensure effective financial services delivery in the region.
2. Lead Bank Designation: RBI, in response to the new district’s establishment, has entrusted lead bank responsibility to the State Bank of India. This designation underscores SBI’s pivotal role in spearheading financial inclusion and development initiatives in Tamulpur.
3. District Working Code: Each district’s unique identifier, the District Working Code, has been allocated to Tamulpur as ’02Q,’ signifying its distinct financial jurisdiction within Assam. This code facilitates streamlined banking operations and regulatory oversight.
4. Continuity in Other Districts: It’s noteworthy that while Tamulpur’s emergence has led to a reshuffle in lead bank responsibilities, there’s no alteration in the lead banks of other districts in Assam. This continuity ensures stability and consistency in banking services across the state.
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Reserve Bank of India
RBI/2024-25/22
FIDD.CO.LBS.BC.No.05/02.08.001/2024-25
April 18, 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., Tamulpur in the state of Assam vide Gazette Notification ECF.No.367433/27 dated September 07, 2023. Accordingly, it has been decided to designate the Lead Bank of the new district as below:
| Sr No | Newly Created District | Lead Bank Responsibility assigned to | District Working Code allotted to new district |
| 1 | Tamulpur | State Bank of India | 02Q (to be read as ‘numeral zero, numeral two, alphabet Q’) |
2. There is no change in the Lead Banks of the other districts in the state of Assam.
Yours faithfully,
(Nisha Nambiar)
Chief General Manager-in-Charge
