SBI VRS Scheme
SBI's plan to implement VRS scheme is cruel: P Chidambaram
New Delhi/UNI: Criticising the plan by the State bank of India to implement a VRS scheme as an ‘economy measure’, senior Congress leader and former Finance Minister P Chidambaram on Monday said that at a time when the economy has collapsed and jobs are scarce, the decision by the SBI is cruel.
In a series of tweets, Chidambaram said,’’News reports say that SBI plans to implement a VRS scheme as an ‘economy measure’ In normal times the plan would be debatable. In these abnormal times, when the economy has collapsed and jobs are scarce, it is cruel.If India’s biggest lender has to shed jobs, imagine what other big employers and MSMEs are doing.’’
Expressing apprehension that in the name of implementing the VRS scheme, a subtle pressure would be brought on the employees that the bank wants to get rid of.
‘’ The plan is ostensibly voluntary but we know that subtle pressure will be brought on the employees that the Bank wants to get rid of. If the current rules provide for genuine voluntary retirement, why announce a new plan and give out an exact number like 30,190?,’’the Congress leader said.
News reports said that the SBI has planned a VRS scheme under which over 30,000 employees are eligible.
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