KOLKATA: Expressing concern over the State Bank of India's decision to shift its Global Market Unit (GMU), Central Global Back Office (CGBO) and three processing centres from Kolkata, a civil society organisation ‘Bank Bachao Desh Bachao Manch’ on Tuesday written to West Bengal Chief Minister Mamata Banerjee, seeking her intervention to stop this move.
Alleging that this move would threaten over 600 jobs and risks a Rs 25 crore annual GST loss to the state, the organisation in its letter to the Chief Minister said, “This arbitrary move directly violates the tripartite agreement signed on 13 March 2008 between the bank management and both the officers’ and staff federations regarding the Global Marketing Unit. That agreement clearly stated that the forex treasury would continue to operate from GMU Kolkata. In 2015, this office was created to decentralise critical work and to strengthen the role of Kolkata in handling global banking operations.”
The letter also mentioned, “Nearly 150 permanent staff and over 200 casual employees will lose their jobs if these departments are shifted. More than six hundred families will be directly affected. The Goods and Services Tax contribution of these units is estimated to be Rs 25 crore every year. This will be a direct loss to the exchequer of the Government of West Bengal.”
The Manch urged the Chief Minister to intervene and take up the matter directly with the State Bank of India top management and the Department of Financial Services for immediate steps to halt the relocation, implement the bank's past commitment to restore 50 per cent of forex operations to Kolkata and bring back the Income Tax and Government Accounts sections, among others, to Kolkata.
However, the SBI has recently stated that decisions regarding the opening, shifting, or rationalisation of branches and offices are part of an ongoing business process based on evolving operational and administrative needs.