SBI inward remittance cell back in Kolkata

The decade-old demand of the employees of the State Bank of India (SBI) to shift some operations of the foreign department to Kolkata, has met with part success, with SBI deciding to centralise the inward remittance cell in Kolkata.

The cell will now take care of the foreign remittance to SBI from outside the country, a task which was earlier scattered across select SBI branches across the country.

However, major part of the forex operations will continue to take place in Mumbai.

Speaking at a press conference in Kolkata, Malay Ray, general secretary of the National Confederation of Bank Employeesof West Bengal, said the decision was a welcome step, though the original demand of the several bank employees associations was to equally divide the forex operation of the bank between Mumbai and Kolkata.

Now, about 20 per cent of forex operations of the bank would be done from Kolkata, said Ray. About 50 staff would be employed in the inward remittance cell, which would start functioning by September this year.

Out this about 30 would be for clerical workers. In 1997-98, the SBI management had decided to shift the forex dealing and cover operations to Mumbai to integrate it with its domestic treasury operations.

Meanwhile, the West Bengal unit of the United Forum of Bank Unions, has decided to go for two-day agitation on September 24 against privatisation of banks, implementation of Raghuram Rajan Committee recommendation, merger of public sector banks and unrestricted entry of FDI in banking sector.