Categories: Banking

RBI authorises HR subsidiary of SBI to manage cost effectively

The Reserve Bank of India preliminary approved the operations and support subsidiary of State Bank of India (SBI). The subsidiary will likely be staffed by a group of employees who will be hired by the arm on a contract basis and will initially focus on managing branches in rural and semi-urban areas. Recruits made by State Bank Operations Support Services may not be qualified for the benefits, according to sources.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

KEY POINTS:

  • Sanjeev Naryani will probably be in charge of the HR division. Before joining the Kolkata-based private sector lender Bandhan Bank in 2019, Naryani worked for SBI for 32 years.
  • For the Indian banking sector, SBI’s HR subsidiary would be the first of its sort; other banks might follow.
  • In the past, numerous lenders sought approval from the regulator for actions of this nature by a subsidiary but were denied.
  • Now that the RBI has approved SBI’s proposal, several lenders may decide to move through with the project.
  • The RBI has given SBI permission to establish an Operation Support Subsidiary to assist RUSU (rural and semi-urban) branches in outreach for agro and MSME lending activities, among other things.

The lender responded to the email with, Sanjeev Naryani has been nominated director on the board of our State Bank Operations Support Services Pvt Ltd, which would be engaged in supporting outreach activities at RUSU branches of SBI.

Find More Banking News HereSBI Formalises Policy To Finance Makers Of Lab-grown Diamonds._70.1SBI Formalises Policy To Finance Makers Of Lab-grown Diamonds._70.1

Recent Posts

Thailand’s Opal Suchata Chuangsri Crowned Miss World 2025 in Hyderabad

Thailand’s Opal Suchata Chuangsri was crowned Miss World 2025. The grand finale took place on…

4 hours ago

Valmik Thapar, Who Spent 50 years with Tigers, Passes Away at 73

Valmik Thapar, a famous wildlife and tiger conservationist, passed away in Delhi on May 31,…

1 day ago

Rashtriya Boudhik Sampada Mahotsav-2025 at CSIR-IIP, Dehradun

CSIR-Indian Institute of Petroleum (CSIR-IIP), Dehradun celebrated Rashtriya Boudhik Sampada Mahotsav (RBSM) 2025 on 29th…

1 day ago

Mary Earps Retires from International Football

Mary Earps, one of England's top football goalkeepers, has decided to retire from International football.…

1 day ago

CBI’s Arrest Six Members of Cybercrime

The Central Bureau of Investigation (CBI) has arrested six people involved in a large cybercrime…

1 day ago

IPL 2025: Rohit Sharma Becomes First Indian Batter to Smash 300 Sixes

Rohit Sharma, one of the most prolific and celebrated batters in Indian Premier League (IPL)…

1 day ago