Corporation Bank contemplates VRS
Our Banking Bureau
24 January 2002
Mumbai:
Corporation Bank
is exploring the scope for a voluntary retirement scheme (VRS). It
has decided to appoint a committee of general managers for the
purpose.
This follows a demand by some employees for a VRS, as they felt
that they had missed an opportunity when other banks offered VRS
last year, says Corporation Bank chairman and managing director
Cherian Verghese.
The committee will assess
the banks existing human resources in relation
to its operations. "After a proper assessment is done, we can
take the matter to our board if there is any scope," he said.
"In keeping with its expansion plans, the bank plans to
recruit 125 officers and 160 clerks shortly."
