SBI launches VRS scheme, about 30,000 employees eligible. Check eligibility, benefits

Posted on Sep 6 2020 - 3:02pm by Newsfeed

(Source:INDIATV)SBI VRS Scheme: In a bid to optimise its costs, India’s largest bank, State Bank of India (SBI) has launched a voluntary retirement scheme (VRS) under which about 30,190 employees are eligible. The total employee strength of the country’s largest lender stood at 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 proposed scheme — ‘Second Innings Tap VRS-2020’ — is aimed at optimising human resources and costs of the bank.