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canara bank, voluntary retirement scheme

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Information about canara bank, voluntary retirement scheme
Finance

Published on February 18, 2009

Author: tozo

Source: slideshare.net

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Live Project on Voluntary Retirement Scheme of Canara bank

Objectives of study To learn more about voluntary retirement scheme of Canara bank. To find out benefits & cost of scheme to employees as well as bank. To find out why this scheme is getting popular in public sector banks.

To learn more about voluntary retirement scheme of Canara bank.

To find out benefits & cost of scheme to employees as well as bank.

To find out why this scheme is getting popular in public sector banks.

Contents Introduction Number of employees opted for VRS Employees eligible for VRS Why VRS ? Cost & benefit to bank Why bank is paying so much amount? Cost & benefit to employee opting VRS Comparison with other banks

Introduction

Number of employees opted for VRS

Employees eligible for VRS

Why VRS ?

Cost & benefit to bank

Why bank is paying so much amount?

Cost & benefit to employee opting VRS

Comparison with other banks

Research Methodology Primary data- Personal interview of the employees of the bank (sec 17c) Secondary data- From Internet.

Primary data- Personal interview of the employees of the bank (sec 17c)

Secondary data- From Internet.

Introduction-Canara Bank

Introduction-VRS

 

Number of Employee Opted for VRS Acc. To IBA Total employees in PSB’s Employees applied for VRS Relieved Employees March,00 8,63,188 1,26,714 (14.7%) 1,01,300 (11.7%)

Employees eligible for VRS

Why VRS? Profit per employee (Avg) PSBs 0.65 Private banks 1.46 Foreign banks 5.61

Cost to banks 18 Nationalised banks SBI & Associated banks All 26 banks Canara bank Estimated Rs 6.70 lakh Rs 6.52 lakh and Rs 5.72 lakh Rs 5.93 lakh Rs 450 cr Actual Rs 5,373 cr Rs 2,117 cr Rs 7,490 cr Rs 750 cr

Why banks are paying so much amount?

Benefits to bank

Cost to Employee opting for VRS

Benefit to Employee opting VRS

Comparison with other banks Total number of employees Employees Who Have Opted for VRS Canara bank 47,843  8500 SBI (officers) 60000 22000 Indian bank (officers) 4000 2500 SBT 13000 915

Thank you

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