New Delhi, Feb. 22: State Bank of India (SBI), the country’s largest commercial bank, will soon start the process of rationalising its 9,019-strong domestic network of branches.
“The proposal to rationalise around 10 per cent of the total domestic branches will help us streamline our operations,” a top bank official told The Telegraph.
Around 46 per cent of the domestic retail banking counters are located in rural areas, 27 per cent and 16 per cent in semi-urban and urban areas, and the remaining 11 per cent in the metroes.
The official said the rationalisation of the branches will not trigger another voluntary retirement scheme. “Around 21,000 employees had opted for voluntary retirement scheme during 2000-01 period,” he added. The bank feels the VRS has already created a staff void which would actually be tackled better with the bank branch rationalisation.
“We have appointed National Institute of Banking Management to review our manpower situation and Tata Consultancy Services to implement the Centralised Trade Finance System (CTFS),” the official added.
The official said the software solution will help in efficient and personalised banking service, anytime banking and relationship management.