SBI to introduce ‘work from anywhere’ to optimise costs

With the implementation of WFA, the Bank expects to save Rs 1,000 crore and also ensure work-life balance for its employees


State Bank of India (SBI) will soon introduce ‘work from anywhere’ (WFA) for its two-lakh strong workforce. Along with contactless digital banking, the Bank is arranging for an overhauling of infrastructure to ensure that its employees are able to work from any location, and shoulder their domestic and professional responsibilities smoothly.

If implemented, the WFA policy will help the Bank optimise cots and save about Rs 1,000 crore.

Clearly, the Bank is going all out to reduce costs, rationalise and reskill its employees. Its focus is going to be on increasing the productivity of its staff and redeploying them from the administration division to the sales department.

To ensure business continuity amidst the ongoing pandemic, SBI has a proper plan in place. It has zeroed in on business-continuity hub branches, which will support customers in case of emergency, and sites have also been assigned the work of providing essential backend services.

The Bank’s integrated digital banking platform, YONO, has already grown in popularity. It offers customers access a several financial and other services such as flight, train, bus and taxi bookings, online shopping, or medical bill payments. Now, SBI plans to double the user registrations for YONO by the end of the year. It will offer new services, including end-to-end home loans, pre-approved car loans as well as personal gold loans.

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