Barclays, one of Britain's biggest banks will outsource 140 jobs from Northampton, UK, to India.
Although bank will have to follow strict banking regulations and pay heavier taxes levied by Labor government - so far endorsed by the new Conservative-Liberal Democrat coalition — as a result of the global economic storm.
John Varley, Barclays chief executive, in an interview said London will be damaged by imposing taxes on the bank. Barclay is already having operations in India and is on move of expanding operations. It has launched a Non-Resident Indian (NRI) banking service outside India, including Britain.
Barclays who battered the international meltdown better than rivals like Royal Bank of Scotland and Lloyds, is likely to reduce outgoings. Vikki Williams, head of Card Fraud Operations, was quoted as saying, "Clearly there are some cost savings involved, but our main driving force is to create a global centre of excellence in India."
The task of collection of dues will be carried out by determined call centre agent in India, who will call customers in the UK continuously demanding payments.
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