SBI New Mantra Work From Anywhere

Nevertheless, an elaborate Business Continuity Plan (BCP) is in place to manage disruptions, said SBI. Business continuity hub branches have been identified to cater to customers in case of emergency and BCP sites identified to support essential backend services, it said.

 

“With global acceptability of Work from Home (WFH) arrangements, the Bank is in process of upgrading its existing WFH policy to Work from Anywhere (WFA).Furthermore, WFA reduces commute time that can be utilised for providing better services to customers as well as ensuring better work life balance.

 

“Productivity tools and technology are in already place to perform administrative work remotely,” the report quoted SBI Chairman Rajnish Kumar as saying. “WFA facility has already been rolled out across 19 foreign offices and soon domestic operations will also be covered. This is expected to drive down the operational cost for the Bank, besides ensuring better motivation and productivity for staff members,” the lender said. It further said the impact of COVID-19 outbreak on economy and financial markets has been dramatic and severe.

 

As of now, only 21.8 per cent of the customers have availed the benefit of moratorium, it said and added that the bank was able to achieve 98 per cent branch operability as well as 91 per cent alternate channel operability during the period of lockdown. SBI had posted a net profit of Rs 14,488.11 crore for 2019-20, as compared to Rs 862.23 crore in FY2019.