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Plan to recruit 14,000 employees this yr; VRS not cost-cutting train, says SBI

New Delhi: The State Bank of India (SBI) on Monday stated it proposes to recruit 14,000 staff throughout the present yr and its ‘on faucet VRS’ will not be a cost-cutting train. The nation’s largest lender has deliberate a voluntary retirement scheme (VRS) beneath which about 30,190 staff are eligible. The proposed VRS will not be a cost-cutting train, an SBI spokesperson stated in an announcement.

The financial institution “has been employee-friendly and is expanding its operations and requires people, which is evidenced by the fact that Bank has plans of recruiting more than 14,000 employees this year”, the assertion added. SBI has an present workforce of round 2.50 lakh and it has been on the forefront of serving worker wants and helping them of their life journey, it stated.

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

The financial institution additional stated it’s deeply desirous of skilling the unemployed youth of the nation, “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 Government of India.”

As per the draft scheme, ‘Second Innings Tap VRS-2020’ will probably be opened to all everlasting officers and employees who’ve put in 25 years of service or accomplished 55 years of age on the deadline.

Earlier on Monday, Congress chief P Chidambaram slammed the proposed VRS. “News reports say that SBI plans to implement a VRS scheme as an ‘economic measure’. In normal times the plan would be debatable. In these abnormal times, when the economy has collapsed and jobs are scarce, it is cruel,” Chidambaram tweeted.

If India’s largest lender has to shed jobs, think about what different massive employers and MSMEs are doing, he added. “The plan is ostensibly voluntary but we know that subtle pressure will be brought on the employees that the Bank wants to get rid of. If the current rules provide for genuine voluntary retirement, why announce a new plan and give out an exact number like 30,190?” he stated. 

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