canara bank, voluntary retirement scheme

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canara bank, voluntary retirement scheme

  1. 1. Live Project on Voluntary Retirement Scheme of Canara bank
  2. 2. Objectives of study <ul><li>To learn more about voluntary retirement scheme of Canara bank. </li></ul><ul><li>To find out benefits & cost of scheme to employees as well as bank. </li></ul><ul><li>To find out why this scheme is getting popular in public sector banks. </li></ul>
  3. 3. Contents <ul><li>Introduction </li></ul><ul><li>Number of employees opted for VRS </li></ul><ul><li>Employees eligible for VRS </li></ul><ul><li>Why VRS ? </li></ul><ul><li>Cost & benefit to bank </li></ul><ul><li>Why bank is paying so much amount? </li></ul><ul><li>Cost & benefit to employee opting VRS </li></ul><ul><li>Comparison with other banks </li></ul>
  4. 4. Research Methodology <ul><li>Primary data- Personal interview of the employees of the bank (sec 17c) </li></ul><ul><li>Secondary data- From Internet. </li></ul>
  5. 5. Introduction-Canara Bank
  6. 6. Introduction-VRS
  7. 8. 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%)
  8. 9. Employees eligible for VRS
  9. 10. Why VRS? Profit per employee (Avg) PSBs 0.65 Private banks 1.46 Foreign banks 5.61
  10. 11. 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
  11. 12. Why banks are paying so much amount?
  12. 13. Benefits to bank
  13. 14. Cost to Employee opting for VRS
  14. 15. Benefit to Employee opting VRS
  15. 16. 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
  16. 17. Thank you

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