Categories: Business

SBI will prepare 'work from anywhere' system, expect savings of Rs 1,000 crore

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new Delhi. The country's largest bank, State Bank of India (SBI), will add 'Work From Anywhere' for employees to its operations amidst the constraints posed by the Kovid-19 crisis. The chairman of the bank, Rajnish Kumar, said the bank will develop the infrastructure for this and is expected to save Rs 1,000 crore in costs. He was addressing the 65th annual general meeting of the bank on Tuesday. He said that the entire focus of the bank will be on reducing costs, rationalizing the workforce and revamping their skills, improving their productivity and moving them out of administrative offices to redeployment to sales offices etc.

Kumar said, "Following the best global processes, the bank will develop an infrastructure to work from anywhere. This will allow employees to work from anywhere, although it will take care of the balance between their social life and working life. At the time of -19, it will play an important role in the continuation of the functioning of the bank. Will be challenging too. The bank is already fully prepared to meet such challenges. He said that the bank has taken steps to monitor all the projects being implemented. The bank expects to rise above the impact of Kovid-19 in the short to medium term.

He said, "The bank remains alert to emerging concerns. At the same time, it is actively taking steps to help our loan customers while maintaining asset quality. "He said the bank has taken financials into micro markets in line with the opportunities arising out of the self-reliant India Package for Small and Medium Enterprises (MSMEs) to shareholders. Informed about the inclusion and creation of micro market units. This has been done under a cost-effective business model. The bank's mobile banking app 'SBI Yono' has also grown significantly. Kumar said that the bank will increase its level further. The bank aims to double the number of users of YONO in the next six months.

This post was published on July 14, 2020 6:30 pm

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