SBI will recruit 14,000 employees this year
Yesterday, SBI proposed a voluntary retirement scheme under which the bank said about 30,190 employees are eligible. SBI has an existing workforce of around 2.50 lakh. Against this backdrop, the bank has decided to provide a congenial solution to employees "who expressed a desire for making strategic shifts in their vocations, either due to professional growth limitations, physical health conditions or other situations," SBI said.
SBI is planning to recruit 14,000 candidates, after receiving a lot of flak for its newly launched scheme VRS. Read everything related to this latest news in this article.
The country's largest bank said the Voluntary Retirement Scheme (VRS) was not meant to reduce the bank's costs. Earlier, it was reported that the bank had prepared a voluntary retirement plan for its employees, which could cover about 30,190 employees. According to news agency PTI, a spokesperson for the bank said in a statement that the bank's proposed VRS is not meant to reduce costs.
What is VRS 2020?
Earlier, it was reported that State Bank of India was bringing a new VRS-2020 for its employees, which could accommodate about 30,190 employees.
Read in gujarati:: news report about SBI Recruit
The bank said, ‘Staff members who apply for VRS will be given 50 percent of the salary for the remaining period of service. This will be till the date of pension. Also, it will be for 18 months of the last salary. Apart from this, gratuity, pension, provident fund and medical facilities will be given to employees taking VRS. Staff retiring under the VRS scheme of SBI will be eligible to apply for a job in the bank again after a cooling period of 2 years.
Referring to the ‘On Tap VRS’, SBI underscored that it has an existing workforce of around 2.50 lakh, and has been in the forefront of serving employee needs and designing ways and means for engaging and assisting employees in their life journey.
State Bank of India (SBI) said it has plans of recruiting more than 14,000 people this year. Earlier, the largest bank of the country had announced to bring voluntary retirement scheme i.e. VRS for more than 30 thousand employees. In a media statement the lender also clarified that its recent offering with regard to on tap voluntary retirement scheme should not be seen as an austerity measure.
After reports emerged that the State Bank of India (SBI) was planning a voluntary retirement scheme for 30,190 of its 2.5 lakh employees, India’s largest bank clarified that it has plans to hire 14,000 more workers this year and that such a scheme would not be a cost-cutting exercise. According to a PTI report, a draft scheme for VRS had been prepared and was awaiting board approval. It would be open for permanent officers and staff with 25 years of service or who had completed 55 years of age. The bank "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 statement by SBI said. SBI has an existing workforce of around 2.50 lakh and it has been at the forefront of serving employee needs and assisting them in their life journey, it 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," the statement said. The bank further said it is 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 Government of India." As per the draft scheme, ''Second Innings Tap VRS-2020'' will be opened to all permanent officers and staff who have put in 25 years of service or completed 55 years of age on the cut-off date. A VRS scheme had been extended to BSNL and MTNL employees earlier, amid a growing disinvestment of India’s PSUsOver 92,000 employees from both BSNL and MTNL opted for the scheme, which was part of a larger measure to cut costs at these PSUs and free up their real estate for resale. A VRS scheme had been implemented for SBI employees in 2000—in March, the Supreme Court ruled over a two-decade old dispute that those who had opted for it and who had 15 or more years of service would still be eligible for a proportionate pension. The news of a planned VRS scheme for SBI employees was met with controversy. Congress leader P. Chidambaram tweeted saying it would be cruel. “News reports say that SBI plans to implement a VRS scheme as an ‘economy 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,” he tweeted. “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. With inputs from PTI
SBI to recruit 14,000 new employees for 2020The State Bank of India (SBI) has announced to recruit 14,000 job seekers in the year 2020. The SBI has issued a statement and said that the bank is in expansion mode and plans to recruit more than 14,000 people in the year 2020. The SBI press statement says, "There have been media reports about the “On Tap VRS” scheme proposed to be introduced by SBI. The reports have been interpreted as a cost cutting measure and the Bank's intent to reduce workforce. Bank has been employee friendly and is expanding its operations and requires people, which is evidenced by the fact that the Bank has plans of recruiting more than 14,000 employees this year."There've been reports about 'On Tap VRS' scheme proposed to be introduced by SBI. It's been interpreted as cost-cutting measure. SBI is employee-friendly & expanding its operations evidenced by the fact that Bank has plans of recruiting over 14,000 employees this year: SBI Spox pic.twitter.com/0Q01YnkEon— ANI (@ANI) September 7, 2020SBI adds that it 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. In this backdrop, it was thought to provide a congenial solution to employees who expressed desire for making strategic shifts in their vocations, either due to professional growth limitations, mobility issues, physical health conditions or family situations. "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,” SBI concluded.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.Ahead of amalgamation of SBI's five associates with it in 2017, the merging subsidiaries had announced VRS for their employees.In 2001 also the bank had announced VRS with the objective to optimise human resources
