The State Bank of India (SBI) on Monday said it proposes to recruit 14,000 employees during the current year and its ‘on tap VRS’ is not a cost-cutting exercise. The country’s largest lender has planned a voluntary retirement scheme (VRS) under which about 30,190 employees are eligible.
The proposed VRS is not a cost-cutting exercise, an SBI spokesperson said in a statement. The bank “has been employee friendly and is expanding its operations and requires people, which is evidenced by the fact that Bank has plans of recruiting more than 14,000 employees this year”, the statement added.
SBI has an existing workforce of around 2.50 lakh and it has been at the forefront of serving employee needs and assisting them in their life journey, it said. “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 situations,” the statement said.
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