State Bank of India (SBI) has terminated the lease for its Global Markets Unit (GMU) premises in the city, drawing objections from a civil society forum, which has urged the Reserve Bank of India (RBI) to intervene and prevent any closure. The premises house the GMU, which handles certain functions including foreign exchange, treasury operations, remittances and various global back-office activities. ADVERTISEMENTThe notice provides a one-month period to vacate, indicating the bank’s plan to consolidate these operations in Mumbai. Opposing the move, civil society forum Bank Bachao Desh Bachao Manch (BBDBM) has written to the RBI governor seeking regulatory intervention. The forum has urged the RBI not to accede to any request by SBI for the surrender of the licence required to operate the GMU in the city.

Source: The Telegraph January 18, 2026 03:02 UTC