State Bank of India has shifted its Central Accounts Office to its head office in Mumbai from Kolkata. The Central Accounts Office of the bank has been operating from Kolkata for the last 100 years. Following this official shift, the bank will now announce its financial results from Mumbai and not Kolkata. The Central Accounts Office had been functioning in Kolkata since the inception of the bank as Imperial Bank of India in 1928. The Central Accounts Office is responsible for the preparation of the bank’s annual balance sheet after consolidation of accounts of all the other offices in the country. This will now be done in Mumbai. There has been some resistance to the shifting of the office to Mumbai as the bank’s employees in Kolkata had formed a ‘Save SBI CAO, Kolkata Forum’ and had represented against the shifting to the government. The bank had, however, told the employees that this is a top-level management decision and the main intention is to centralize the accounts related work.
