Statement by State Bank of India
SBI Spokesperson Says:
"There have been media reports about the “On Tap VRS” scheme proposed to be introduced by SBI. The reports have been interpreted as a cost cutting measure and Bank’s intent to reduce workforce.
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.
SBI has an existing workforce of around 2.50 lacs 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 situations.
While our commitment towards our valued employees remains unshakable, we are deeply desirous of skilling the unemployed youth of the country, as is evidenced by the fact that we are the only Bank in the country which has onboarded Apprentices under the National Apprenticeship Scheme of Govt of India.”.