State Bank of India (SBI) Chairman Rajnish Kumar Tuesday said the bank will institute a work from anywhere (WFA) infrastructure to facilitate work from any location, while taking care of the social aspects of work-life balance in the wake of the COVID-19 pandemic.
“The measure is expected to save Rs 1,000 crore through cost optimisation and will be a key component of our business continuity during the times of COVID-19,” he said at SBI’s virtual annual general meeting.
The bank’s focus going forward will be on cost reduction, rationalisation and reskilling of workforce, improving staff productivity and redeployment of workforce from admin offices to sales roles, Kumar added.
He said an elaborate business continuity plan is already in place. “Business continuity hub branches have been identified to cater to customers in case of emergency and BCP sites identified to support essential backend services. COVID-19 has highlighted the need for human resources BCP also which your bank is now fully equipped with,” Kumar added.
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