Financial Daily from THE HINDU group of publications
Thursday, Jan 24, 2002
Financial Daily from THE HINDU group of publications Thursday, Jan 24, 2002 |
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Money & Banking
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Public Sector Banks Corpn Bank to study scope for VRS Our Bureau
Mr Cherian Verghese (right), Chairman and Managing Director, Corporation Bank, and Mr P.K. Gupta, Executive Director, at a press conference in Mumbai on Wednesday.
MUMBAI, Jan. 23 CORPORATION Bank Ltd is exploring the scope for a voluntary retirement scheme (VRS). The bank 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, according to Mr Cherian Verghese, Chairman and Managing Director. The committee will assess the bank's 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 scope,'' he said. In keeping with its expansion plans, the bank plans to recruit 125 officers and 160 clerks shortly, Mr Verghese said. Our Chennai Bureau adds: At a press conference here on Wednesday, the President of the Canara Bank Officers' Organisation, Mr T. R. Bhat, said the union would "intensify its stir in the days ahead, which may result in a one-day strike in March," if its s demand for VRS was not met. He said the VRS would benefit the bank, because the older officers may not be able to cope with the new computerised environment.
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