Bonjour, new guests from small-town India
Puneet Dhawan of Accor is brimming with ideas on ways to revive the hospitality sector
The All Kerala Bank Employees’ Federation (AKBEF) has opposed CSB Bank’s plan to offer voluntary retirement scheme (VRS) to award staff.
The Board of the Thrissur- headquartered CSB Bank had approved the roll-out of VRS on January 19.
CD Josson, General Secretary, AKBEF, said that bringing exit-option for award staff was most inappropriate when the the bank needs to expand its services utilising the experience, expertise and local roots of the employees.
Also read: Kerala bank employees’ body opposes full-fledged functioning of branches
If the management’s plan was to replace permanent employees with contract and cost-to-company mode employees, that would be regressive and anti-labour, he alleged.
KS Krishna, Joint Secretary, All India Bank Employees’ Association, said at a time when the the government and private sector institutions should be ensuring stable employment, it is most intriguing that CSB Bank is going ahead with VRS in the current pandemic situation, even after it has announced better third quarter (October-December 2020) results.
CVR Rajendran, MD and CEO, CSB Bank, said that 223 employees are eligible for VRS and if all these employees opt for the scheme, the outgo for the bank will be around ₹80 crore.
As per the bank’s regulatory filing, VRS will be offered to the eligible award staff, who have completed 50 years of age and have a minimum of 10 years of service with the Bank. The scheme will be effective from January 25, 2021, for such period, as specified in the scheme.
Also read: Banks’ union urges Kerala CM to restrict bank timings, initiate rapid antigen test on employees
The implementation of the scheme will be beneficial to the bank in the long run, both in terms of financial and customer service point of view, said CSB Bank in the filing.
Rajendran said the average annual salary of the award staff is about ₹11-12 lakh.
Puneet Dhawan of Accor is brimming with ideas on ways to revive the hospitality sector
Citroen’s first vehicle sports a novel design and European interiors. It is also meant to be as comfortable as ...
The pandemic is only the tip of the iceberg that the country’s cash-poor airlines — both regional and national ...
The government is yet to specify the framework of its recently announced old vehicle scrappage policy
Here is a checklist that equips you to discern the market nuances
Sensex, Nifty 50 have witnessed sharp decline
The fund has consistently outperformed S&P BSE 100 TRI over one, three and five years
Returns are superior to immediate annuity plans, but SCSS can secure better rates for new investors sooner if ...
With the public looking beyond mainstream media for reports from the ground, independent digital platforms are ...
A book on Badri Narayan is a tribute — albeit a belated one — to an artist who did not enjoy the recognition ...
The country hasn’t had a quiet moment since the military seized power on February 1
The Tatmadaw sees itself as an embodiment of the nationalist soul of Myanmar. But their brand of nationalism ...
Its name is the starting point of a brand’s journey and can make a big difference in the success sweepstakes
Sober spirits are the in thing
A peek into where ad spends went last year and where they are headed tomorrow
Can Swiggy Instamart disrupt the ecommerce groceries space, currently ruled by the Amazons and Big Baskets? ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...
Please Email the Editor