Top Banking firm announces 'Work From Anywhere' Scheme for Employees! Details

The country’s largest lender, State Bank of India (SBI) has introduced a unique strategy to deal with COVID19 and embrace new changes to workplace. “Work from Home” has become the new normal over the past few months. The SBI has introduced “Work From Anywhere” policy recently. 

SBI’s Chairman Rajnish Kumar wrote in his letter to shareholders that “Productivity tools and technology are in already place to perform administrative work remotely.” Kumar said a “Work From Anywhere” (WFA) policy would help reduce commute time for the bank’s staff, which can be utilized for providing better services to customers as well as ensuring better work-life balance.”

“SBI has already rolled out its work from anywhere policy across its 19 foreign offices, and India operations will soon be covered too,” CNBCTV18 cited in its report.

“The new policy is expected to drive down the operational cost for the Bank, besides ensuring better motivation and productivity for staff members,” Kumar said while explaining the new policy.

Aditya Puri, the managing director of HDFC Bank earlier said that almost one- third of the company’s employees were working from home and it is likely to continue even after the pandemic since it has proven to be efficient in cost-cutting. 

SBI is the first public sector lender that has officially embraced the remote working option as a permanent one. The bank firmly believes that changing customer preferences too indicate more acceptability to adopt digital channels for banking 

SBI is further planning to scale up its digital banking offering, YONO, and is now targeting to double user registrations in the next six months. It is also set to strengthen its digital platform through new product offerings such as home loans. Pre-approved car loan and personal gold loans.