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SBI’s Retirement Scheme Amid Economic Crisis “Cruel”: P Chidambaram

P Chidambaram stated, when the economic system has collapsed and jobs are scarce, it’s merciless

New Delhi:

Congress chief P Chidambaram on Monday slammed the reported State Bank of India (SBI) plan to implement a voluntary retirement scheme (VRS) at a time when the economic system has collapsed and known as it merciless.

“News reports say that SBI plans to implement a VRS scheme as an “economic system 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,” P Chidambaram tweeted.

“If India’s biggest lender has to shed jobs, imagine what other big employers and MSMEs are doing. 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 added.

According to sources, SBI has deliberate a VRS scheme beneath which over 30,000 workers are eligible. The worker energy of SBI stood at about 2.49 lakh on the finish of March 2020 as in comparison with 2.57 lakh a 12 months in the past.

Earlier final week, Congress chief Rahul Gandhi had stated that growth was lagging behind within the nation and highlighted a number of factors relating to the shortage of growth.

Taking to Twitter, Mr Gandhi, in a translated tweet, stated that 12 crore jobs are lacking, 5 trillion greenback economic system is lacking, the revenue of the widespread man is lacking.

“Prosperity and security are missing in the country and if a question is asked, the answer is missing. Development is missing (in the country),” he added.

(Except for the headline, this story has not been edited by NDTV workers and is revealed from a syndicated feed.)


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