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The <keyword id="6354731" type="ORGANIZATION" weightage="20" keywordseo="state-bank-of-india">State Bank of India</keyword> (<keyword id="13222" type="ORGANIZATION" weightage="100" keywordseo="sbi">SBI</keyword>) cut down its staff by at least 6,000 from 2.80 lakh to 2.73 lakh in Q1 of FY18. The exits were due to retirements and voluntary retirement scheme. SBI, now, wants to redeploy more than 10,000 employees keeping merger with associate banks and also digitisation in mind. The restructuring comes after the big merger. So far, SBI has merged 594 branches and rationalised 122 administrative offices. This in itself is expected to result in savings of over Rs 1,160 crore annually. As a part of re-deployment, SBI will have staff in government service branches. Around 30% of the staff of rationalised branches will be redeployed in sales functions. The bank has introduced a new employee appraisal system where performers will receive financial incentives. Also, SBI hired just 625 staff members in the first quarter. The bank is recruiting specialists for digital space and marketing though not in large numbers.

SBI cuts staff by at least 6,000; will redeploy 10,000 employees

New Delhi, May 19 () Employees of State Bank of India (SBI) have decided to contribute an additional amount of Rs 7.95 crore to the Prime Minister's Citizen Assistance and Relief in Emergency Situations (PM-CARES) Fund as part of their effort to fight the COVID-19 crisis. The donation made by SBI employees by letting go of one day's salary and a day's leave encashment totals at Rs 107.95 crore, the country's largest lender said in a statement. In March, around 2,56,000 employees of SBI donated Rs 100 crore to the PM-CARES Fund that is created to fight the coronavirus pandemic, it said. SBI has also committed 0.25 per cent of its annual profit of 2019-20 towards CSR (corporate social responsibility) activities to fight the COVID-19 pandemic, it said. Public sector companies and their employees have been at the forefront in the fight against COVID-19 and they have generously contributed to the PM-CARES Fund. At this time of crisis, SBI is taking all efforts to provide best possible banking services to its customers, it said. The bank is also urging citizens to avail digital banking services and avoid moving out of the house so that social distancing is maintained, it added. DP HRS

SBI employees commit additional Rs 8 cr towards PM-CARES Fund

Kolkata, Apr 3 () The State Bank of India haswarned its employees against posting content on social mediathat is critical of the country's largest lender over itsfunctioning in the wake of the coronavirus outbreak.In a recent letter to chief general managers of allcircles, SBI also said action will be taken against employeeswho take to social media platforms to write messagesdisparaging the bank, its management and policies, sourcessaid on Friday."We have seen a spurt in social media posts pertainingto functioning of the bank's branches and offices... Therehave been many such posts critical of the bank not closingdown operations in context of the COVID-19 outbreak, littleappreciating the role of the bank at such a critical time,"the sources said, quoting a circular.The lender has already initiated action against two ofits employees based in West Bengal for "offensive" postsagainst the bank and a senior management official, they said.The move has met with criticism by a large section ofSBI employees, who called it an attempt to muzzle free speechand expression."Being a citizen of a democratic country, we have abroader right to express our views on social media about thesituations that affect our day lives, without divulgingdetails of our organisation or using derogatory language...this circular is an attempt to curb our rights enshrined inArticle 19 of the Constitution," said an SBI employee, whopreferred not to be named.A senior United Forum of Bank Unions (UFBU) officialtold that SBI is the only bank to have come out with sucha circular amid the coronavirus crisis.An official of the All India Bank OfficersConfederation (AIBOC) said the state-run lender's circular onsocial media posts of its employees is "definitely" a breachof their democratic rights."Indecent language in social media against banks isnot encouraged, but employees are well within rights to flagconcerns through their posts," he said.When contacted, SBI Chief General Manager, KolkataCircle, Ranjan Kumar Mishra, said the bank has a social mediapolicy in place which every employee is expected to adhere to,failing which action could be initiated."Everybody is free to express themselves on socialmedia regarding COVID-19 or any other subject, but if suchposts tarnish the image of the bank and is violative of theset code of conduct, then disciplinary action might be takenafter investigation," Mishra told .On reports that some of its employees are placed undersuspension over recent social media posts, he said such stepsare "regular internal matters of the bank".Mishra also said SBI has been largely successful inmanaging customer flow at its branches across the country amidthe ongoing lockdown, and help of local authorities is beingsought wherever required. RBTSK SK

COVID-19: SBI warns employees of action over social media posts against bank

Banking services across the country are likely to be partially disrupted on October 22 as two bank unions will go on a 24-hour strike on the day. The strike has been called by All India Bank Employees' Association (AIBEA) and the Bank Employees Federation of India (BEFI) to protest against recent bank mergers, falling deposit rates and issues of job security. The Reserve <keyword id="6355303" type="DOMAIN" weightage="20" keywordseo="bank-of-india">Bank of India</keyword> and <keyword id="6354731" type="DOMAIN" weightage="20" keywordseo="state-bank-of-india">State Bank of India</keyword> will, however, not participate in the strike, sources in them said. Regional Rural Banks and cooperatives banks will also not participate in the strike as mergers do not affect them, sources said. Striking unions said they will shut the ATMs as these will be under the strike ambit.Bank of Maharashtra, Syndicate Bank, Bank of Baroda have expressed concern over their providing normal customer services. "We expect good response from all PSU and private banks," Bank Employees Federation of India (State Federation) General Secretary Joydeb Dasgupta said. SBI has claimed the impact of the strike on its operations will be minimum as most of its employees are not members of the participating unions. A SBI union leader said they are not participating in the strike and services will be normal. Dasgupta said SBI employees have offered moral support to the strike he said adding "It would have been good if SBI joined the strike".AIBEA and BEFI also oppose outsourcing of regular and perennial banking jobs and privatisation of banking industry, sources in them said. They have demanded adequate recruitment of clerical and sub-staff and urged for stringent steps for recovery of mounting bad loans, the sources added.

Banking services will be disrupted as two unions declare a strike tomorrow

Mumbai, Jun 14 () The nation's largest lender State Bank of India has temporarily closed three branches -- two in Mumbai and one in adjoining Thane -- after eight staff tested positive for COVID-19, bank employees said. The bank's main branch in Thane was shuttered last week after seven of the 25 staff were found to be COVID-19 positive, according to a senior bank employee. A cash officer at the local cheque processing cell (LCPC), also known as the clearing department, in the northwestern Mumbai suburb of Jogeshwari (East) was found COVID-19 positive, leading to temporary closure of the branch early last week, said another employee. As a precautionary measure, the bank temporarily stopped operations at its LCPC located in the Andheri area, after a gardener working there was founded to be infected with the virus, the employee said. When contacted, <keyword id="13222" type="CITY" weightage="20" keywordseo="SBI">SBI</keyword> said, "Our quick response team headed by a general manager is continuously monitoring the situation in the entire country and due protocol is followed in case of any infection. Many of our staff members, who got infected, have recovered and are contributing to the functioning of the bank in these trying times". Banks are classified as essential services to provide uninterrupted services even when the entire country was under lockdown. Over the past few days, three SBI employees -- Sandu Borade of the Churchgate branch; Anirban Datta of the Belapur CBD branch; and Ramesh Rane of the Ghatkopar branch were lost to the new coronavirus infection. On the death of these staffers, the SBI statement said, "A few unfortunate deaths have happened and we are deeply saddened by the incidents. The compensation (including COVID compensation amount) is paid as per the established rules of the bank". "Safety protocol is complied with and all possible support is provided. We salute our employees who are contributing to the nation in these trying times." It can be noted that Maharashtra is the worst affected state with over 1 lakh infections and Mumbai as the epicentre. On Saturday, the state reported 3,427 new cases and 113 deaths, including 69 from Mumbai. The latest count in the state stands at 1,04,568 and fatalities at 3,830, according to the state health department. Of the total cases, 78,134 are concentrated in the Mumbai Metropolitan Region (MMR), which has reported 2,650 deaths, including Mumbai with 56,831 cases and 2,113 fatalities. Another SBI employee said despite such a high number of cases being detected, the bank management is asking them to come in full strength and branches are back to normal operations. A third employee said that the mortgage divisional headquarters in Thane is carrying out "full documentation" and let applicants visit the branch where no social distancing is possible because of the large number of applicants, but putting the lives of bankers at risk. "Working with the PPE kit (given to us by the bank) on is practically not possible," the staffer cited above told . The employee stated that they are being asked to report only on alternate days and forced to apply for CLs on the rest. "We are asked to apply for casual leave (CL) on days we are not going to the branch, or for working on alternate days," he said, adding "we are not even given commuting allowance or pick-up and drop since the lockdown was lifted on June 1". "I pay over Rs 400 a day on two-way auto fare alone as the bank had long ago stopped the pick-up and drop facility which was there in the initial weeks of the lockdown," the employee averred. SBI did not respond to the specific query on the management asking staff to be fully present and also asking them to apply for CL for every absentee-day. Recently, bank unions had written to the department of financial services demanding regular sanitisation of branches, Rs 1,000 daily allowance and Rs 50 lakh insurance cover for bank staff as provided to healthcare workers. The demand from the United Forum of Bank Unions came in after 11 employees of various banks died due to the virus. According to the union, these deceased staff include three from SBI, two from Bank of India, and one each from Punjab National Bank, Federal Bank, Central Bank of India, IDBI, Canara Bank, and Bank of Maharashtra.

SBI closes 3 branches in Mumbai, Thane after spike in COVID cases among staff

Employees of <keyword id="6354731" type="CITY" weightage="80" keywordseo="State-Bank-Of-India">State Bank of India</keyword>'s associate banks, including State Bank of Mysore, State Bank of Patiala, State Bank of Travancore and <keyword id="143585" type="COMPANY" weightage="80" keywordseo="State-Bank-of-Hyderabad">State Bank of Hyderabad</keyword> went on a one-day <keyword id="6358138" type="UNKNOWN" weightage="60" keywordseo="Strike">strike</keyword> on Thursday. They are protesting against the decision to merge these banks with the SBI permanently. The employees demanded filling up of vacancies, increasing the number of staff in the <keyword id="157757" type="UNKNOWN" weightage="80" keywordseo="housing-loan">Housing loan</keyword> section and extending the compassionate ground appointments to associate banks, a PTI report said. 
		 
	
		The SBI associate banks employees also warned the management that they would go for a nationwide strike on June 24 if their demands are not fulfilled. They want the management to find a solution soon. 
		 
	
		Recently, talks were held in Delhi over the matter, but failed to reach a conclusion. This prompted the unions to call for the strike. The <keyword id="6452174" type="ORGANIZATION" weightage="80" keywordseo="All-India-Bank-Employees-Association">All India Bank Employees Association</keyword> claimed that 50,000 employees participated in the strike today. 
	(Image: Indiatimes)

SBI's associate banks employees on strike today

State Bank of India (<keyword id="13222" type="CITY" weightage="100" keywordseo="SBI">SBI</keyword>) Chairperson <keyword id="6379603" type="PERSON" weightage="100" keywordseo="Arundhati-Bhattacharya">Arundhati Bhattacharya</keyword> has said that the bank was mulling the option to issue Employees Stock Option Plan (<keyword id="120103" type="PERSON" weightage="80" keywordseo="Esop">ESOP</keyword>) this year. “We are now considering an ESOP, which is basically something where you give an option and they exercise the option at a later date depending upon what is the share price in the market. So, we are looking at that ESOP scheme,” said Bhattacharya. 
	SBI was earlier considering issuing Employees Stock Purchase Scheme (<keyword id="462746" type="ORGANIZATION" weightage="80" keywordseo="ESPS">ESPS</keyword>) – a share purchase scheme. “At that point, SBI’s shares were at a very low price,and it would have made sense. Since then, prices have improved, and it is difficult for our employees to purchase this,’’ she said.<o:p></o:p>

	This would be based on ‘performance parameters.’ “If you perform as per the target given to you, then you will get a certain number of options, which will be locked in for a period of time, say one year. And then subsequent to that one year, you will exercise the option if you find the value has gone up. If it hasn’t gone up, you can allow it to lapse,” she said.<o:p></o:p>

	“My intention is to make it available to all. I think we all need to work as one team. Therefore, it would be nice if we can give it to everybody. But we have to find out performance parameters for every job. That is a big job. So, we are looking at how that can be done,” she added.<o:p></o:p>

SBI Considering Employees Stock Option Plan

Guwahati, Jul 6 () The State Bank of India's Northeast head office's three floors and the entire regional business office were sealed on Monday after at least 30 employees in the two buildings tested positive for COVID-19, officials said. Kamrup Metropolitan Deputy Commissioner Biswajit Pegu declared the offices of the country's largest public sector bank as "containment zones" and ordered to seal them with immediate effect to prevent further spread of coronavirus in the area. Accordingly, the three floors of the eight-storied SBI's Northeast head office, which is located just opposite of the Assam secretariat, was sealed along with the bank's regional business office at Swagata Square complex in ABC Point. A senior official of the SBI told that at least 86 employees, including contract ones, have tested positive across its branches and complexes in Guwahati so far. "These results have come after the bank management voluntarily decided to test its staff at private labs on its own expenses. Unfortunately, the government has not done any contact tracing of the people yet," he added. The official said that 22 persons at the SBI Northeast head office and eight at the regional business office have tested positive, but there has been no contact tracing yet. "Earlier, 37 employees at our Liability Central Processing Centre (LCPC) and Centralised Pension Processing Centre (CPPC) building at Lokhra tested positive. It is still not sealed and open for public visit," he added. Many staff have tested positive in other branches such as New Guwahati-Sarb (10 cases), Fancy Bazar (seven cases) and SBI Premium (two cases), he said. "The cook of the Officers' Transit Cottage and Officers' Residential Complex turned positive. Hundreds of people live in that compound, but no contact tracing has been done yet by the administration," the official said. "The numbers are rising on a daily basis. It is a very alarming situation and the bank management is doing everything possible within its reach. However, we have not got much support from the health officials," he added. Besides the SBI offices, the Kamrup Metropolitan district has also sealed the Dhirenpara Maternity and Child Welfare Hospital in Guwahati and declared it a containment zone till July 13 after several COVID-19 cases were detected there. Also, the entire Swagata Square complex has been declared a containment zone for an indefinite period after a number of workers tested positive there, the official order said. TR SOM SOM

SBI's Northeast HQ's three floors, regional biz office sealed as 30 employees test positive

Kolkata, May 8 () State Bank of India has closeddown a section of the Local Head Office (LHO) here after anemployee tested positive for COVID-19, a senior official saidon Friday.The employee is associated with the LiabilityCentralised Processing Centre located at the 'E' wing of theLHO.The SBI official said the employee was not attendingoffice for the last 8-10 days and was later found to havecontracted the deadly virus."Since then, we have sanitised the entire building andthe section has been closed till May 11," he said, adding,other departments are functional.The employee is being treated at a private hospital."As a responsible organisation, we will have to lookinto the welfare of all employees and follow the protocol insuch challenging circumstances," the official said.He said another SBI staff, who had travelled to aforeign country, also tested positive, but has recovered nowfollowing treatment at a government hospital. RBT RBT

SBI shuts Kolkata LHO wing after employee tests positive for COVID-19

New Delhi, Jan 3 () The country's largest lender SBI on Friday said it is looking to sell 50 lakh shares representing 1.01 per cent stake in the National Stock Exchange (NSE) as part of its capital raising exercise.
Currently, State Bank of India (SBI) holds 5.19 per cent stake in the exchange.
"SBI is one of the shareholders of National Stock Exchange of India Ltd and intends to divest up to 1.0101 per cent (50,00,000 equity shares) of its equity shareholding in NSEIL (National Stock Exchange of lndia Ltd) through a competitive bidding process," the lender said in a public notice.
The bid should be submitted for a minimum lot of 10,00,000 shares in the prescribed format and the last date for submission is January 15, 2020, it said.
In 2016, SBI sold 5 per cent stake in the NSE to Mauritius-based Veracity Investments for Rs 911 crore, valuing the exchange at over Rs 18,200 crore. Post this transaction, SBI holding came down to 5.19 per cent while its subsidiary, SBI Capital, holds 4.33 per cent stake in the exchange.
The recent exit of IFCI from the NSE valued the country's largest stock exchange at around Rs 35,000 crore.
Last month, IFCI sold its entire 2.44 per cent stake in the NSE for a consideration of Rs 805.6 crore.
Besides NSE stake dilution, the bank is looking to raise fund from initial public offer of its subsidiaries UTI Mutual Fund and SBI Cards and Payment Services Ltd.
SBI Cards, the credit card arm of State Bank of India, on Wednesday filed Draft Red Herring Prospectus (DRHP) for its initial public offer (IPO) with Sebi in November.
The company will offer up to 13,05,26,798 equity shares via offer for sale route. This will include up to 37,293,371 share sale by SBI and up to 93,233,427 shares on offer by Carlyle Group (CA Rover). In addition, the company will also issue fresh equity shares of Rs 500 crore.
Up to 18,64,669 shares have been reserved for employees of the company whereas 1,30,52,680 have been reserved for SBI shareholders.
SBI holds 76 per cent in SBI Cards and rest of the stake is held by Carlyle Group. DP BAL

You Searched For "sbi employees" and got 10 results

SBI cuts staff by at least 6,000; will redeploy 10,000 employees

BI India Bureau

SBI employees commit additional Rs 8 cr towards PM-CARES Fund

PTI

COVID-19: SBI warns employees of action over social media posts against bank

PTI

Banking services will be disrupted as two unions declare a strike tomorrow

PTI

SBI closes 3 branches in Mumbai, Thane after spike in COVID cases among staff

PTI

SBI's associate banks employees on strike today

BI India Bureau

SBI Considering Employees Stock Option Plan

BI India Bureau

SBI's Northeast HQ's three floors, regional biz office sealed as 30 employees test positive

PTI

SBI shuts Kolkata LHO wing after employee tests positive for COVID-19

PTI

SBI plans to sell 1 PC stake in NSE; invite bids

PTI

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