SBI Ends Kolkata GMU Lease; Civil Society Seeks RBI Intervention

The State Bank of India (SBI) has terminated the lease for its Global Markets Unit (GMU) premises in Kolkata's Jeevan Sudha Building, signaling plans to consolidate treasury and forex operations in Mumbai. The bank has given a one-month notice to vacate. A civil society group, Bank Bachao Desh Bachao Manch (BBDBM), has urged the Reserve Bank of India (RBI) to intervene and prevent closure without regulatory approval, citing the unit's economic contributions and employment impact in West Bengal. SBI also operates from its Samriddhi Bhavan building in Kolkata, which houses multiple departments.