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SBI 14000 Recruitment 2020, Junior Assistant, PO Breaking News

Start preparations, SBI will recruit 14,000 employees this year.

State Bank of India (SBI) said it is planning to recruit 14,000 this year. SBI said it is expanding its business, which will need new people. The bank clarified that the VRS scheme was not brought for cost cutting.
SBI 14000 Recruitment 2020, Junior Assistant, PO Breaking News
New Delhi: State Bank of India (SBI) has said it is planning to recruit 14,000 people this year. SBI said it is expanding its business, which will need new people. The bank clarified that the VRS scheme was not brought for cost cutting.

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 the bank said?

A statement issued by the bank said, "The bank has a friendly relationship with its employees and is expanding its business to meet the needs of the people." This proves that the bank is planning to hire more than 14,000 employees this year.

The State Bank currently has around two and a half lakh employees and the bank is always ready to meet the needs of its employees and help them in their lifetime, the statement said.

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.

According to reports, SBI's VRS scheme will be open to all permanent officers and employees who have served the bank for 25 years or have reached the age of 55 by the due date. The scheme will be open till the end of December 2020 or January 2021. I.e. application for VRS will be accepted during this period.

What will benefit employees

Employees whose VRS application will be accepted will receive 50 per cent of the salary in the form of ex gratia for the remaining service period till the actual retirement date. Apart from this, you will also get fun benefits like gratuity, pension, provident fund and medical benefits.
The bank also plans to introduce ‘On Tap VRS’ to reduce costs
State Bank of India (SBI), on Monday, said it has plans to recruit more than 14,000 employees this year.

This announcement comes even as India’s largest bank is planning to introduce an ‘On Tap VRS’ to optimise human resources and costs. SBI emphasised that it is expanding its operations and requires people. This is evidenced by the fact that the bank has plans to hiremore than 14,000 employees this year, according to the bank’s statement.

On Tap VRS

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.

“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 situation,” the bank said.

As per the proposed eligibility criteria, 11,565 officers (from the Junior Management Grade Sscale – I to the Top Executive Grade Special Scale-I) and 18,625 award staff (clerical and sub-staff) members will be eligible for the scheme, which comes in the backdrop of increased digitialisation and outsourcing by banks.

Net savings

As per estimates based on July 2020 month’s salary, the bank expects net savings of ₹2,170.85 crore if 30 per cent of eligible employees opt for retirement under the scheme. The scheme will be kept open for three months from December 1 to February-end every year.

The scheme will be open to all permanent officers and award staff (including those from erstwhile associate banks and erstwhile Bharatiya Mahila Bank), who have put in 25 years of service and completed 55 years of age as on the date of application; officers who missed three or more promotion opportunities in present scale; on mobility ground/ mobility restriction for self or as caretaker.

The staff member whose request for retirement under VRS has been accepted will be paid an ex-gratia amounting to 50 per cent of salary for the residual period of service (up to the date of superannuation), subject to a maximum of 18 months last drawn salary.

As per the objectives of the scheme, it provides an option and ‘respectable’ exit route to the employees who have reached a level of saturation in their career; may not be at the peak of their performance; have some personal issues or want to pursue their personal/ professional life outside of bank; and have better opportunities elsewhere.

VTV NEWS ||ZEE 24 KALAK NEWS

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