Standard Chartered Bank is dismissing about 200 employees in its retail (meaning non-corporate) banking operations in India.
"With enhanced digital capabilities, we are seeing a significant increase in adoption of digital channels by our retail banking customers, primarily through the net and mobile banking. As a result of this transition, a small number of retail banking roles have fallen away," the bank stated on Thursday night.
It was, it added, "working closely with these employees and relevant parties on existing opportunities and fair separation packages, as well as offering outplacement services". It has around 7,000 staffers in this country, being the largest international bank in India, with 100 branches in 43 cities. "We have been operating here since 1858," it noted.