SBI decides to engage 14,000 employees this year, Proposed VRS Scheme as an Economy Measure

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SBI decides to engage 14,000 employees this year, Proposed VRS Scheme as an Economy Measure
SBI decides to engage 14,000 employees this year, Proposed VRS Scheme as an Economy Measure

SBI decides to engage 14,000 employees this year, Proposed VRS Scheme as an Economy Measure. The State Bank of India (SBI) has proposed to recruit 14,000 employees during the current year and its ‘on tap VRS’ is not a cost-cutting exercise. The country’s largest lender has planned a voluntary retirement scheme (VRS) under which about 30,190 employees are eligible. The proposed VRS is not a cost-cutting exercise, said in a statement.

The total employee strength of country’s largest lender stood at 2.49 lakh at the end of March 2020 as compared to 2.57 lakh a year ago.

In the official notice stated, “SBI has an existing workforce of around 2.50 lacs and has been in the forefront of serving employee needs and designing ways and means for engaging and assisting employees in their life journey. While our commitment towards our valued employees remains unshakable, we are deeply desirous of skilling the unemployed youth of the country, as is evidenced by the fact that we are the only Bank in the country which has onboarded Apprentices under the National Apprenticeship Scheme of Govt of India,” the bank said.

“In this backdrop, it was thought to provide a congenial solution to employees who expressed desire for making strategic shift in their vocations, either due to professional growth limitations, mobility issues, physical health conditions or family situations,” it said.

“While our commitment towards our valued employees remains unshakable, we are deeply desirous of skilling the unemployed youth of the country, as is evidenced by the fact that we are the only bank in the country which has onboarded apprentices under the National Apprenticeship Scheme,” the bank said.

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