MasteryExams
Economics • Banking & FinanceEasy

Which apex cooperative financial institution operates within Sikkim to provide vital credit support and refinance facilities to agricultural societies and rural banks?

A. State Bank of India
B. Sikkim State Cooperative Bank✓ Correct Answer
C. Reserve Bank of India Regional Office
D. NABARD Commercial Branch

💡 Solution & Explanation

Sikkim State Cooperative Bank functions as the apex cooperative bank in the state, catering to rural credit needs and supporting primary agricultural cooperative societies. National commercial banks operate alongside, but the state cooperative bank specifically targets grassroots agrarian funding. Cooperative credit structures are crucial for mountain agriculture financing.

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