Thursday, March 15, 2001
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VRS eating up funds -- UBI unions 

Our Banking Bureau  
Kolkata, March 14: United Bank of India's bill of Rs 300 crore for its voluntary retirement scheme will leave it in no position to pay up arrears due under an industry-wide settlement that it has not implemented for the last two years. UBI will have to shell out Rs 75 crore for arrears payment.

Unions allege that the UBI had initially agreed to pay arrears two years after the wage agreement was signed, provided the bank came out of the red.

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