SISCO Bank wins Skoch Silver Award for financial inclusion initiative

GANGTOK,: SISCO Bank, Sikkim’s State-owned rural financing institution, has won the prestigious Skoch Silver Award for its ground-breaking financial inclusion project, “Cash Kendra.” The award was presented at a ceremony held at the India Habitat Centre in New Delhi today.

The “Cash Kendra” initiative was recognized for its innovative approach to leveraging banking technology to provide doorstep banking services, aiming to connect all villages across Sikkim.

SISCO Bank managing director Pema Chenzom along with deputy general manager Deepak Tewari received the award. The ceremony was presided over by the chairman of the Economic Advisory Council to the Prime Minister.

The managing director, in a media statement, shared that this national recognition is a boost and encouragement to the SISCO Banks' focus on serving the rural and agricultural heartland of Sikkim. She extended gratitude to the Government of Sikkim, Reserve Bank of India, NABARD, the SISCO Bank’s shareholders, customers and employees, while dedicating the award to the people of Sikkim.

Since its establishment in 1998, SISCO Bank has grown from a single-branch entity into a formidable financial institution with 14 branches and a comprehensive suite of modern banking services. It remains the largest provider of agriculture and rural credit in Sikkim. The bank's consistent performance and high levels of banking efficiency have also earned it the status of a Scheduled Bank from the Reserve Bank of India.

The Skoch Award, one of India's highest civilian honours in the fields of governance, finance, technology and economics, places SISCO Bank among other 2025 awardees and participants, including JIO Infocomm, Power Grid Corporation of India, Muthoot Microfin Ltd, Andhra Pradesh Energy Corporation, Madhya Pradesh State Agri Marketing Board among others.