SBI moots VRS scheme to optimise costs, about 30,000 employees eligible

In a bid to optimise its costs, the State Bank of India (SBI) has planned a voluntary retirement scheme (VRS) under which about 30,190 employees are eligible.

The total employee strength of countrys 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.

Besides, the draft scheme, seen by

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