Logo


Ahead of SBI merger, State Bank VRS scheme to remain open for a short time

Available for those who put in 20 years of service or completed 55 years of age as on Feb 28, 2017

Photo: istock
Photo: istock

Ahead of the merger with parent State Bank of India (SBI), associate banks have started rolling out voluntary retirement schemes (VRS) for their employees with a very short deadline.  The VRS rolled out by the State Bank of Patiala has asked the employees to accept the offer within 15 days, between March 22 and April 5. A further seven days, till April 12, has been given to withdraw the application. An employee of the bank said the timeline given was too short. “Whenever VRS was launched, it was effective for at least 45 days. However, for us, the time is only 15 ...