(a) The Reserve Bank appointed Jammu & Kashmir Bank as the lead banker for the newly carved out union territory of Jammu and Kashmir. State Bank of India (SBI) will be the lead convenor bank for union territory of Ladakh. The government through a gazette notification on August 9, 2019 hadreorganised the erstwhile Jammu and Kashmir stateunder the Jammu and Kashmir Reorganisation Act,2019, into union territories of Jammu and Kashmirand Ladakh with effect from October 31, 2019.