SBI starts outsourcing to wholly owned SBOSS

SBI chairman Dinesh Khara said the bank has started outsourcing operations to its wholly owned subsidiary State Bank Operations Support Services (SBOSS) during the current financial year.

In reply to a query on staff shortages, Khara said that SBI had recruited 7,775 personnel during FY23 and was outsourcing to its wholly owned subsidiary. “The intention is to render support to the staff in the bank branches,” said Khara, speaking at the bank’s annual general meeting.

In his communication to shareholders, Khara said, “To further penetrate the agriculture and rural market, your bank has floated SBOSS, which is expected to help your bank reach out to a larger populace and record improved efficiency in sourcing and collection of loans,” said Khara.