UDD Inspects Banking Institutions in Kewzing

Namchi, September 5 (IPR): Urban Development Department (UDD) Namchi, conducted an inspection of banking institutions in Kewzing, revealing contrasting compliance statuses regarding trade licences.

During the verification process, officials from UDD confirmed that the State Bank of India (SBI) Kewzing Branch possesses a valid Trade Licence issued under the BSC Ravangla authority, fully meeting the prescribed norms.

Conversely, the inspection found that the HDFC Bank Kewzing Branch has not yet secured the necessary Trade Licence required for lawful operation.

UDD officials have advised the HDFC branch management to initiate the licensing process immediately to avoid regulatory complications.

The officials from UDD highlighted the importance of adherence to licensing requirements to uphold standards for all institutions in Sikkim. While the SBI branch sets a compliance benchmark, the HDFC Bank’s prompt action is crucial to align with regulatory frameworks.

UDD will continue to monitor all such institutions and ensure full compliance in the interests of good governance and public accountability.

Present during the inspection were Ms Allisa Basnet, AD UDD, Inspector’s and Staff from UDD Namchi