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Tuesday, December 19, 2000
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Dena Bank may offer VRS from mid-February
Nimish Shukla
Ahmedabad, Dec 18: Dena Bank is exploring the possibility of offering voluntary retirement scheme (VRS) to its employees from mid-Feburary. Poor financial position has forced the bank to offer VRS in the last months of the current fiscal to enable the bank to shift the financial implications of the VRS cost to next year's balance sheet.According to sources, Dena Bank's board has already cleared the VRS for its employees. The bank has identified approximately 1,000 employees as surplus work force out of current employee strength of 13,700. Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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