Bengal to face Rs 25cr GST loss for relocation of SBI unit from Kolkata, claims civil society group
GST
Dated:- 22-6-2025
PTI
Kolkata, Jun 22 (PTI) Kolkata faces a potential state GST loss of nearly Rs 25 crore this fiscal year as the State Bank of India (SBI) moves to relocate its Global Market Unit (GMU) from Kolkata to Mumbai, a civil society organisation has claimed.
This proposed shift has drawn protests from civil society groups like Bank Bachao Desh Bachao Manch (Save Bank, Save Nation Platform), describing SBI's decision as “arbitrary and opaque”.
“The GMU and associated units contribute significantly to state revenues via GST, nearly Rs 25 crore this fiscal year. Additionally, over 70 contractual staff stand to lose t
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s raised nor provided a rationale for the displacement of strategic banking operations.
The Manch then complained to the Centralized Public Grievance Redress and Monitoring System (CPGRAMS) under the Department of Administrative Reforms and Public Grievances.
Protestors have highlighted several concerns beyond the potential GST loss, including the disregard of historical and legal commitments, specifically a 2008 agreement between the bank and its federations to retain the GMU (which evolved from the erstwhile Foreign Department) in Kolkata.
The GMU's shifting is part of a “pattern of systemic marginalisation” of Kolkata's and West Bengal's institutional roles within India's banking landscape, the forum claimed. PTI BSM NN
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