State Bank of India Chairman Rajnish Kumar stated that the bank will resort to work from anywhere (WFA) given the current circumstances and also stated that this technique would include all aspects of work-life balance. This was initially adopted to save the bank Rs. 1000 Crore through cost optimization and to be a key component during the times of COVID-19.
He also stated that the banks focus currently would be on cost reduction and rationalization. Reskilling of workforce and improving staff productivity are the additional roles to be focused on presently. He also stated that an up to date business plan has already been in place lately and business continuity branches have been identified to be able to cater to customers in cases of emergencies.
COVID-19 has highlighted the need for human resources and redeployment of workforce from admin offices to sales roles. The bank seems to be in a stable position to be able to fulfill these requirements.
