Why is State Financial institution of Sikkim utilizing IFSC Code of Chapter Financial institution?

Gangtok: State Financial institution of Sikkim (SBS) is going through warmth for allegedly lending cash to outsiders and being a part of widespread corruption throughout the state authorities.

Earlier, former Chief Minister Pawan Kumar Chamling SBS was accused of lending Rs 70 crore to an individual from exterior Sikkim. Now, the Sikkim civil society has accused the financial institution of utilizing the IFSC code of a bankrupt non-public financial institution, Sure Financial institution.

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