Himalayan News Service

Kathmandu, February 28:

With the objective of reducing expenses and increase efficiency, Nepal Bank Ltd (NBL) has introduced a new voluntary retirement scheme. The NBL management has set a target of encouraging more than 1,200 banks staff to retire voluntarily. Officers who have contributed 22 years of service and employees at other ranks with 10 years, will be liable for the voluntary retirement, informed Dr Tarak Bahadur KC, chief at the human resource department of the bank. “The bank is replacing old employees to make the bank more effective and efficient,” KC added.

Out of a total of 3,600 employees, about 2,000 belong to non-officers’ ranks. NRB and World Bank have been pressurising the bank to make service effective. The bank management has informed that 3,085 employees of the bank could take voluntary retirement scheme. It will need Rs 320 million if 1,200 employees take the retirement. The sum will be collected through world bank loans and internal resources of the bank.