SBI incorporates wholly owned subsidiary for premises and estate matters of SBI

Posted on:13 Mar 2017 09:53:54
SBI incorporates wholly owned subsidiary for premises and estate matters of SBI
13 March 2017 Current Affairs: The State Bank of India on March 11, 2017 has legally incorporated SBI Infra Management Solutions Pvt. Ltd. (SBIIMS Pvt. Ltd.) as a wholly owned subsidiary of SBI. SBIIMS Pvt. Ltd. will now manage the premises and estate related matters of SBI.

The new subsidiary will save the time of bank employees who earlier performed these non-core functions. Now these employees can handle the core functions of the bank and increase the efficiency.

SBIIMS Pvt. Ltd. will handle the advisory services, transaction management, facility management and implementation of policies and initiatives.

In the initial phase this new subsidiary will have 400 registered offices and will look after work related to premises and estate of State bank Group. Each local head office centre of SBI will have one circle office of SBIIMS and and about 100 zonal offices at administrative office centres of SBI will be opened.

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