New Delhi: State Bank of India, the country’s largest bank, has introduced a voluntary retirement scheme (VRSS) with the aim of gaining expertise in cost management. The bank’s 30,180 employees are eligible for the scheme. State Bank has 2,8,000 employees. Under the year, their number was 2,54,000. While the letter of the VRSS4 scheme has been prepared, it is awaiting board approval. The proposed VRSS scheme, however, has failed to gain the support of the union. Ashwini Rana, vice-president of the National Union of Bank Employees, said the introduction of such a scheme at a time of crisis as the whole country was battling the Karona epidemic was a reflection of the anti-employee sentiment of the bank authorities.
The proposed scheme, “Second Inis Tape VRSS-2020”, aims to improve the bank’s spending and human resources. Employees who have reached a certain level of maturity in their professional life, those who have not reached the peak of performance, those who have some personal problems, or those who want to start a career or personal life outside of a bank job. The scheme will be available to those who have completed 25 years of service at the State Bank or are over 55 years of age. All permanent officers and employees of the bank coming in this category can join the scheme. The scheme will open on December 1 and remain open until February next year. In these three months, interested employees can apply for VRSS. According to the letter from the scheme, 11,575 officers and 19,625 employees of State Bank of India are eligible to apply for VRSS.
