State Bank of India has set up SBI Infra Management Solutions, which will be a wholly-owned subsidiary of the bank to manage premises and estate related matters of the bank. The company will handle all transaction management / advisory services, project management, facility management and implementation of policies and initiatives. The idea in setting up the subsidiary has been to relieve senior executives of the bank from undertaking non-core activities like infrastructure management. Arundhati Bhattacharya, chairman of the bank, said SBI is having valuable properties under its possession and found that acquisition, construction and maintenance of owned and leased premises, which is a non-core activity, were being looked after by 1100 officials of the bank including 200 technical officials. Hence, it made sense to create separate entity employing much lesser number of employees who will handle premises and estate related work more effectively and efficiently, she added.
