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Eco/Invest/Demography

SBI plans VRS scheme covering 30,000 staff as it seeks to optimise costs

The scheme will open on December 1 and will remain open till the end of February, it said, adding that applications for VRS will be accepted during this period only.

As per the proposed eligibility criteria, a total of 11,565 officers and 18,625 staff members will be eligible for the scheme.

The total net savings for the bank would be Rs 1,662.86 crore if 30 per cent of eligible employees opt for retirement under the scheme, as per estimates based on July 2020 salary, it said.

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Typhoon Haishen hammers southern Japan with high winds and power outages

Airlines have canceled more than 500 flights departing from Okinawa and southern Japan, NHK said. Bullet train service in southern and western Japan was suspended, it said.

Japan’s coastguard on Saturday suspended for a second day its search for crew missing from a ship that capsized in the East China Sea last week with a cargo of cattle.

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The costs of India’s Covid crisis are too high

It’s now likely that the pandemic has, as feared, moved out of urban areas into India’s vast, and crowded, rural hinterland. Here, health services will be far less equipped for a surge in cases — and a distant state machinery itself may not know of localized outbreaks till it is too late.The government,faced with a crashing economy and with its cupboards completely bare, has no real way to directly improve the welfare of those most affected. Programs like Britain’s furlough scheme or the U.S.’s $600 per week unemployment aid are a distant dream in India.

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