What do you mean by State Bank Of India Voluntary Retirement Scheme, will you plz tell me about this scheme ??

State Bank of India are an Indian multinational, public sector banking and financial services company.

As you asking here I am telling State Bank Of India Voluntary Retirement Scheme is a method used by bank/companies to reduce surplus staff. This mode has come about in India as labour laws do not permit direct retrenchment of unionized employees.

Company profile

Type Public
Traded as NSE: SBIN
BSE: 500112
LSE: SBID
BSE SENSEX Constituent
CNX Nifty Constituent
Industry Banking, financial services
Founded 2 June 1806, Bank of Calcutta
27 January 1921, Imperial Bank of India
1 July 1955, State Bank of India
2 June 1956, nationalization
Headquarters Mumbai, Maharashtra, India
Area served Worldwide
Key people Smt. Arundhati Bhattacharya
(Chairperson)
Products Consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, savings, securities, asset management, wealth management, credit cards,
Revenue 257,289 crore (US$38 billion) (2015)
Profit 17,517 crore (US$2.6 billion) (2015)
Total assets 2,700,110 crore (US$400 billion) (2015)
Total equity 203,417 crore (US$30 billion) (2015)