State Bank of India (SBI) seems to have shelved its plan to offer a golden handshake to its employees. The proposal, floated in early September, appears to have been put on the back burner as no circular has been issued so far on the opening/implementation of the scheme. The reason: The Finance Ministry is apparently concerned that if many experienced employees and officers opt for the ‘Second Innings Tap – Voluntary Retirement Scheme–2020 (SITVRS-2020)’, there would be a vacuum in key positions. This could have an impact on the functioning of the country’s largest bank. The Government is the promoter of SBI with majority shareholding of 57.63 per cent. The VRS scheme was to open on December 1 and close on February 26, 2021
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