The document discusses the voluntary retirement scheme (VRS) of Canara Bank. It aims to learn about the benefits and costs of the VRS for both employees and the bank. It also seeks to understand why VRS is becoming popular among public sector banks. The document outlines the research methodology and provides data on the number of employees who opted for VRS at Canara Bank and other banks. It compares the estimated costs of VRS for Canara Bank and other nationalized banks versus the actual costs incurred and discusses the benefits of VRS for both the bank and retiring employees.

1. Live Project on Voluntary Retirement Scheme of Canara bank

5. Introduction-Canara Bank

6. Introduction-VRS

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%)

9. Employees eligible for VRS

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

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

12. Why banks are paying so much amount?

13. Benefits to bank

14. Cost to Employee opting for VRS

15. Benefit to Employee opting VRS

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

17. Thank you