SBI moots VRS, about 30k eligible

NEW DELHI: In a bid to optimise costs, SBI has planned a voluntary retirement scheme (VRS) under which over 30,000 employees are eligible. The total employee strength of country’s largest lender stood at about 2.49 lakh at the end of March 2020 as compared to 2.57 lakh a year ago.
According to sources, a draft scheme for VRS has been prepared and board approval is awaited. The scheme will be opened to all permanent officers and staff who have put in 25 years of service or completed 55 years of age on the cut-off date. The scheme will open on December 1 and will remain open till the end of February.
According to the proposed eligibility criteria, a total of 11,565 officers and 18,625 staff members will be eligible for the scheme.

Leave a Reply

Your email address will not be published. Required fields are marked *