Sikkimey Nagarik Samaj (SNS) would like to alert the public to a significant financial scam recently uncovered at the State Bank of Sikkim (SBS). This incident, involving a fraudulent transaction of Rs. 69 crore, is a severe blow to the trust and security of the bank’s customers.
This is not the first time SBS has faced scrutiny. In 2011, a similar scandal surfaced at the Rabongla branch, where an official was accused of siphoning off interest money from account holders. The recent scam further tarnishes the bank’s reputation and calls for immediate action.
The scam, revealed through an internal audit on March 31, 2024, implicates three subordinate employees from SBS. However, SNS believes there may be more individuals involved, possibly part of a broader criminal conspiracy within the bank, leading to a substantial financial loss for the public. Despite uncovering the unauthorized transactions, it took the bank almost three months to file a First Information Report (FIR), reflecting severe negligence by those in charge.
The fraud has caused significant distress among SBS customers, particularly pension holders and other account holders, who are now worried about the security of their funds. The casual dismissal of the issue by the Managing Director of SBS, who referred to it as “a very small issue,” has only exacerbated public concern.
SBS, as a public treasury of the Sikkimese people, must take robust legal action against loan defaulters and ensure full transparency in addressing such fraudulent activities. Superficial reassurances will not suffice; the bank must restore public confidence through decisive measures.
Sikkimey Nagarik Samaj calls for a comprehensive and impartial investigation into the scam. We urge SBS to strengthen its internal security protocols to prevent future incidents, including regular audits and stricter adherence to standardized procedures. The board of directors must provide clear information on any decisions or actions taken regarding this matter, as the public remains highly anxious.
Furthermore, SNS questions whether SBS is sustaining itself primarily through loan interest deductions from government employees’ salaries. Clarity is needed on the maximum loan amount that individuals can avail.
