SBI to act as lead bank for 4 newly formed Meghalaya districts

The Reserve Bank has assigned State Bank of India (SBI) to act as the lead bank in four newly constructed districts in Meghalaya.

The four new districts created in the state are North Garo Hills, East Jaintia Hills, South West Khasi Hills and South West Garo Hills.

The RBI also assigned SBI the district working codes for the purpose of basic statistical returns (BSR) reporting.

"There is no change in the lead bank responsibilities of the erstwhile districts and of other districts in the State of

Under lead bank scheme, each district is assigned to different banks to act as a consortium leader to coordinate the efforts of banks in the district, particularly in matters like branch expansion and credit planning.