India's largest bank, State Bank of India (SBI), will fill 14,000 seats this year, and as per reports, these vacancies are likely to be filled in the next three months. Ahead of the recruitment announcement, SBI has also announced the introduction of Voluntary Retirement Scheme (VRS) for employees.
In a recent announcement regarding the hiring, SBI said that manpower is needed to further expand the business, and the new 14,000 employees will be hired at the earliest and clarified that the recruitment was not due to VRS (after voluntary retirement scheme). Officials further stated that the bank has always been positive and friendly towards its employees, and currently has over two and a half lakh employees across the country.
Recently, SBI had introduced a new VRS2020 scheme for its employees, and this will be applicable for those who have completed 25 years of service and are aged 55 years r above. The scheme will run from December 1 to February 2021, 2020.
Employees who are going to accept this VRS will be paid 50 per cent of the salary as ex-gratia for the period up to the actual retirement date. It will also have additional benefits.