Between, April 2017 and March 2018, some 18,973 employees had retired. At the same time, the Bank also hired 3,211 employees.
Though public-sector banks had an operating profit in the last two fiscals, they faced a net loss due to bad loans.
The bank may issue shares in tranches to employees and will complete the transactions in this financial year.
The restructuring will save the bank Rs 1160 cr. every year
This system will ensure that attendance is accurately recorded in the HRMS.