New Delhi: In order to optimize its cost, State Bank of India (SBI) has planned Voluntary Retirement Scheme (VRS). About 30190 employees will come under this. The total workforce of SBI was 2.49 lakhs by the end of March 2020. As of March 2019, this number was 2.57 lakhs. According to sources, a draft scheme for VRS has been prepared and the board’s approval is awaited. The name of the proposed scheme is ‘Second Innings Tap VRS-2020’.
According to sources, a draft scheme for VRS has been prepared and board approval is awaited.
The proposed scheme, ‘Second Innings Tap VRS-2020’, is aimed at optimising human resources and costs of the bank.
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 Dec. 1 and will remain open till the end of February, it said, adding that applications for VRS will be accepted during this period only.
As per the proposed eligibility criteria, a total of 11,565 officers and 18,625 staff members will be eligible for the scheme.
