SBI to go for cost-cutting, workforce reskilling measures amid coronavirus pandemic
New Delhi | Jagran Business Desk: Amid the disruptions caused by the coronavirus pandemic, State Bank of India (SBI) Chairman Rajnish Kumar said on Tuesday that the public lender will be focusing on cost reduction, rationalization, reskilling of workforce and improving staff productivity and redeployment of workforce from admin offices to sales roles.
While addressing the shareholders at the bank's 65th annual general meeting today, Rajnish Kumar said that the SBI will also be instituting work-from-anywhere infrastructure and expects to save Rs 1,000 crore from this measure.
"Following global best practices, the bank will institute work from anywhere (WFA) infrastructure to facilitate work from any location, while taking care of social aspects of work-life balance”, Kumar said as reported by news agency PTI.
"The measure is expected to save Rs 1,000 crore through cost optimization and will be a key component of our business continuity during times of COVID-19," Kumar added.
Rajnish Kumar further said that the FY21 will be a challenging year for the bank as the COVID-19 pandemic is still disturbing the financial activities, however, he added that the SBI is ready to deal with such challenges.
"Bank will maintain a constant vigil on the emerging stress and take proactive action to help our borrower customers and maintain asset quality," he noted.
Posted By: Talib Khan