Information that the Center will bring in an attractive Voluntary Retirement Scheme (VRS) for the employees of the two public sector banks to be privatized. It is learned that Union Finance Minister Nirmala Sitharaman on February 1 announced the privatization of two public sector banks and an insurance company while submitting budget proposals for the current financial year. It is heard that handing over the banks to the private sector means that the Center intends to reduce the additional burden on them. For this purpose, it is known reliably that employees have attractive VRS honeycombs.
Such are the favorable conditions for privatization
The central government is anticipating that the public sector banks will be redesigned in favor of the private sector to buy them. However, there is a possibility of giving a Good Financial Package to those who want a quick retirement. Even before the merger of the banks, the Center had brought in this VRS proposal.
This is the list of banks proposed by the Niti Aayog!
The Justice Commission has recently submitted the list of banks to be privatized. The Central Cabinet will take the final decision. This is lower than last year’s target of Rs 2.10 lakh crore.