The Reserve Bank of India (RBI)  has appointed Jammu & Kashmir Bank as the lead banker for the union territory of Jammu and Kashmir and State Bank ofIndia (SBI) as the lead convenor bank for union territory of Ladakh.

Through a gazette notification on August 9, 2019, theerst while State of Jammu and Kashmir had been reorganized into Union Territoryof Jammu and Kashmir and Union Territory of Ladakh with effect from October 31,2019 by the government.

"In view of the above, it has been decided to assignthe UTLBC (Union Territory Lead Bank Convenor) Convenorship of the UnionTerritory of Jammu and Kashmir to Jammu & Kashmir Bank Ltd and the UnionTerritory of Ladakh to State Bank of India," RBI said in a notificationissued on Thursday.

There is no change in the SLBC/UTLBC convenorship of otherstates and UTs, central bank added.