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SEBI has offered a VRS (voluntary retirement scheme) to employees above 40 years of age with 15 years service, according to confirmed sources.
Employees received the offer through an internal mail.
There is a glut of officers in the Assistant General Manager (AGM) to the GM levels leading to employees stagnating, said sources.
With limited positions at the top, everyone cannot be promoted to CGM (and above) hence this step, said sources.
It is interesting to note that the regulator has been in existence only for the last 20 years.
SEBI's head office is located in Mumbai. It also has four regional offices — in New Delhi, Chennai, Kolkata and Ahmedabad.
>raghavendrarao.k@thehindu.co.in
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