Bank says over 5,000 ready to call it quits
Bank of India (BoI) plans a second voluntary retirement scheme (VRS). It is waiting approval from the revenue department for allowing the expenses incurred due to the VRS as a deduction under the Income Tax Act.
The bank has a staff strength of 44,000 and, according to an assessment by the bank, 5,000-6,000 employees are willing to opt for the VRS.
