State Bank of India (SBI) will soon start a subsidiary that will look into human resources (HR)- related issues.
- The operations and support subsidiary of SBI has recently received in-principle approval from the Reserve Bank of India.
- The subsidiary will initially focus on managing branches in rural and semi-urban areas, and is likely to be manned by a section of staff who shall be recruited by the arm on a contractual basis.
- Sanjeev Naryani is likely to head the HR subsidiary. Naryani had been with SBI for 32 years before joining the Kolkata-based private sector lender in 2019.
- SBI’s HR subsidiary would be the first of its kind for the Indian banking industry and other banks may follow suit.
