Gangtok: The Sikkim Information Commission (SIC) has directed the State Bank of Sikkim (SBS) to disclose the complete list of loan defaulters, including their names, addresses, loan amounts, unpaid interest, dates of loan approval, and details of their last payments. The decision marks a significant development in the ongoing scrutiny of the bank’s handling of loan recoveries.
The ruling came after activists Sangay Gyatso Bhutia, Passang Sherpa, and Sonam Gyatso Sherpa filed an appeal on November 8, 2024, challenging SBS’s refusal to provide the information under the Right to Information (RTI) Act. The activists argued that transparency in loan defaulter details is crucial for ensuring accountability and fairness in the bank’s recovery actions.
The order gains importance as SBS continues to seize properties of defaulters across Sikkim, prompting allegations of selective targeting and unfair practices. Critics have raised concerns about potential inconsistencies in how the bank addresses different cases, suggesting that a public release of the defaulters’ list could help clarify these claims.
With the SIC’s directive, SBS is now required to provide the requested details, a move likely to draw significant public attention to the bank’s loan recovery mechanisms. The disclosure is expected to fuel further discussions on transparency and equitable treatment in financial institutions’ operations.
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