Archive · 22 Jun 2025
SBI Unit Shift from Kolkata Could Cost Bengal Rs 25 Crore
SBI is moving a financial unit from Kolkata to Mumbai.
This move might cause Kolkata to lose about 25 crore rupees in taxes.
A group called Bank Bachao Desh Bachao Manch is protesting because they think the move is unfair and against previous agreements.
They say SBI hasn't explained why they're doing this, and it could hurt Kolkata's importance in banking.
The group is worried about the loss of jobs and money for the state.
SBI is relocating its Global Market Unit (GMU) from Kolkata to Mumbai.
A civil society group claims Kolkata faces a potential Rs 25 crore GST loss.
The civil society group, Bank Bachao Desh Bachao Manch, has protested the move.
The group criticized SBI's response as "generic and bureaucratic".
The move is allegedly a disregard of past commitments and strategic importance.
- Who
- State Bank of India (SBI) and the civil society group Bank Bachao Desh Bachao Manch.
- What
- SBI is relocating its Global Market Unit from Kolkata to Mumbai.
- When
- The relocation was recently announced.
- Where
- Kolkata to Mumbai
- Why
- SBI has not provided a clear rationale, according to the civil society group.
Civil Society Group
SBI
Reason for Relocation
Civil Society Group
The relocation is arbitrary and lacks justification.
SBI
SBI maintains that decisions regarding branch shifts are based on operational needs.
Historical Commitment
Civil Society Group
The move disregards a past agreement to keep the GMU in Kolkata.
SBI
SBI has not directly addressed these concerns.
- Company
- State Bank of India (SBI)
- Unit Relocating
- Global Market Unit (GMU)
- From
- Kolkata
- To
- Mumbai
- Potential GST Loss
- Rs 25 crore
- Civil Society Group
- Bank Bachao Desh Bachao Manch