What started as a social distancing mandate for businesses may become part of the future business model for SBI. India’s largest bank plans to institute work-from-anywhere infrastructure at the bank and this initiative is expected to save Rs.1000 crore for the bank. SBI chairman also admitted that the focus will now be cost reduction and rationalization.

In addition, SBI will also look to re-skill and re-deploy its manpower. SBI will deploy more people into front-line sales and rely on automation for routine tasks. SBI will also focus on remaining profitable in a tough year where the lag effect of COVID-19 would still be rampant. SBI will move a chunk of its 44 crore customers to digital platforms.