SBI Kolkata GMU Closure Sparks Civil Society Appeal To RBI

Lease Termination Announcement  
On January 14, 2026, SBI issued a notice to vacate the 11th to 16th floors of the Jeevan Sudha Building on Jawaharlal Nehru Road. The GMU, which managed foreign exchange and treasury operations, is being consolidated in Mumbai as part of the bank’s strategic restructuring.  

Civil Society Response  
Groups such as Bank Bachao Desh Bachao Manch have objected to the closure, arguing that such a move requires regulatory approval. They have appealed to the RBI to ensure that public interest and local employment are safeguarded before any operational shift is finalized.  

Key Highlights  

• SBI terminates lease of GMU Kolkata premises effective January 14, 2026  
• Unit handled foreign exchange and global markets operations  
• Bank plans consolidation of treasury and forex operations in Mumbai  
• Civil society forum urges RBI to intervene for regulatory oversight  
• Concerns raised over transparency, local jobs, and regional impact  

Impact And Reflection  
The closure underscores SBI’s focus on centralizing operations for efficiency but raises questions about regional employment and regulatory compliance. The RBI’s response will be crucial in balancing operational strategy with public accountability and stakeholder trust.  

Sources: The Hindu BusinessLine, PTI, Economic Times