SBI denies VRS meant to save cost, says it plans to hire 14,000 this year

The State Financial institution of India (SBI) on Monday mentioned that the ‘On Faucet VRS’ scheme proposed by it had been incorrectly interpreted as a cost-cutting measure and the financial institution’s intent to cut back workforce.

An SBI spokesperson mentioned that financial institution was employee-friendly, was increasing its operations and required individuals, as evidenced by the truth that it was planning to recruit greater than 14,000 workers this yr.

The spokesperson additional mentioned SBI had an current workforce of round 250,000 and the financial institution had been on the forefront of serving worker wants and designing methods and means for participating and aiding workers of their life journey. It was in opposition to this backdrop that the financial institution considered offering a congenial answer to workers who expressed a want for making a strategic shift of their vocations, both as a result of skilled development limitations, mobility points, bodily well being situations or household conditions.

“Whereas our dedication in the direction of our valued workers stays unshakable, we’re deeply desirous of skilling the unemployed youth of the nation, as evidenced by the truth that we’re the one financial institution within the nation which has on-boarded apprentices beneath the Nationwide Apprenticeship Scheme of Govt of India,” the spokesperson added.

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