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SBS Celebrated Golden Jubilee (1967-2017)

SBS Celebrated Golden Jubilee (1967-2017)

SBS Celebrated Golden Jubilee (1967-2017)

Gangtok, 8th Sep (IPR): The State Bank of Sikkim celebrated its golden
jubilee at Chintan Bhawan today where the Hon’ble Chief Minister, Shri
Pawan Chamling was present as the Chief Guest .

The programme began with lighting of the ceremonial lamp by the Chief
Guest and the dignitaries.

The Chief Minister began his address by welcoming everyone and
expressed his joy at seeing students in the gathering for he said they
are the ones who will be responsible for the economic growth in the
future. He recalled the time when the State witnessed the inauguration
of SBS in 1968 through the hands of the then Chogyal Palden Thondup
Namgyal. Encouraging the younger generations that change was
necessary and to get stuck in obsolete traditions would bring them
various obstacles, he said it was important to respect the old culture
and to strike a balance between the two and bring changes through
sensible development. Citing examples of Mark Zuckerberg, Bill Gates
and William Buffet, he encouraged the students to arm themselves with
the weapon of knowledge and go out to conquer the world, perhaps
become Presidents of Banking Bodies, even the World Bank. He
explained to them that Sikkim’s democracy was unique for it is an
“Inclusive Democracy,” one that caters not only to human beings but
all living organisms, nature and the environment. Watching the journey
of SBS and watching the youth of Sikkim acquire more degrees and
experience fills him with pride and joy both, he said.

Talking about the Corporate World, he said that globally, the economic
disparity has been on the rise. He then suggested that SBS to conduct
an economic disparity survey and study the economic difference between
classes and bring forth measures to minimize the margin. In this
regard, Sikkim could be a model State for others to follow, he said.

The Chief Minister described the state as having a distinct
personality for it manages livelihood through organic farming,
government funded transport department, government funded tea estate
and so on. Similarly, SBS has a distinct personality in comparison to
other banks therefore it functions in a unique but transparent manner,
he explained. He stressed that in spite of being a small region with
a sparse population, Sikkim ranks third in the country in Per Capita
Income. He explained that peace and security was the main reason that
the State has been growing and in order to maintain this political
stability, people have to be responsible and not get into caste or
petty politics.

Turning his attention to the retired officials and staff, he asked
them to contribute their intellectual experience in the functioning of
the Senior Citizens Welfare Board. He stressed on the importance of
security as one ages and the support and company needed by old people.
Therefore the establishment of Old Age Homes in all the four districts
is absolutely necessary, he stated. He then asked the officials of SBS
to look out for young recruits to be taken into the body for their
fresh and efficient intellectual efficiency.

At the end, he reminded the people to develop a sense of ownership and
said that SBS was the people’s bank so the responsibility lies in all
of us for it is our money. “Trust your bank, love your bank, invest in
your bank,” he concluded.

Managing Director (SBS), Shri H.K Chettri presented the welcome
address where he welcomed everybody and expressed his happiness in
celebrating fifty years of service provided by SBS. He then provided
a brief background of SBS explaining how the body came into existence
and said that unlike other banks, the State Bank of Sikkim
Proclamation of 1968 gives it a unique status.

In his address, he also said that so far SBS has 44 branches, 3
twenty-four hour revenue collection counters and 1 extension counter.
The aim of SBS is to open more branches so that the total number
reaches 50. He then informed that albeit SBS is clear of all Income
Tax liabilities and is making advance payment on yearly basis, it is
fully compliant to the Income Tax provisions and adds to the national
economy by paying tax on schedule. As per figures recorded on 31st
March 2018, SBS has a total business of over Rs. 3500 crore. He ended
his address by thanking everyone for their time, especially the Chief
Minister and quoted lines from Robert Frost’s poem, reminding all that
we have “miles to go before we sleep.”

Chairman (SBS), Shri K.B Chamling in his address spoke about the
history of SBS, the problems faced and the measures taken to turn this
financial body into a successfully operating monetary institute. He
thanked everyone who had in the past as well as those currently
contributing to the favourable functioning of SBS and he especially
thanked the Chief Minister for always believing in SBS and motivating
them to carry on.

The Hon’ble Chief Minister was felicitated by SBS for his constant
support and guidance over the last three decades.

K.L Jawalia of National Informatics Centre, Government of India was
also felicitated for his contribution and guidance in the growth of

A coffee table book with the fifty years journey of SBS titled, “The
Bond” was released at the event along with the inaugural of the Core
Banking Solution (CBS). The Hon’ble Chief Minister was also presented
with a dividend cheque of Rs 18.92 crore.

Winners of a school level essay competition were awarded certificates
and cash prize.
• Miss Disha Bhujel of Class XI “Commerce” PNGSS stood first
• Miss Neharika Gajmer of Class XI “Commerce”, Deorali Girls School stood second
• Miss Pratistha Choudary of Class XII “Science” Tashi Namgyal Academy
stood third.
Consolation Prizes were awarded to
• Ms. Parimita Thapa, Class XII “Commerce” of Enchey Senior Secondary School
• Mr. Anup Regmi, Class XII “Science” of Sir Tashi Namgyal Senior
Secondary School
• Miss Jemimah Rai, Class XI “Humanities” of Modern Senior Secondary School.
School Development Fund was distributed to the following schools:
• Paljor Namgyal Girls School
• Tashi Namgyal Academy
• Girls’ Senior Secondary School, Deorali
• Sir Tashi Namgyal Senior Secondary School
• Enchey Senior Secondary School
• Modern Senior Secondary School
Earlier the girls from Paljor Namgyal Senior Secondary School and
Deorali Girls Senior Secondary School presented songs which were
received with much appreciation.

The Vote of Thanks was delivered by Assistant Manager, SBS Shri Rapden Bhutia.

The programme was also attended by Deputy Speaker (SLA), Shri Sonam
Gyatso Lepcha, Cabinet Ministers, MLAs, Mayor, Dy Mayor, HODs,
officials of various Department and students.


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