Reserve Bank of India OERS

Hey buddy can you please tell me the meaning of ORES and some information about it so that I can have idea about it?

[Shaleen]

As per you demand I would like to tell you that ORES is OPTIONAL EARLY RETIREMENT SCHEME(OERS) RBI was setup on August 16, 2003. for that I will get some information about so that you can have idea.


Here is the eligibility Criteria Of ORES

Eligibility Criteria:
25 years of service + 50 years of age as on August 1, 2003.

As per the Annual Report the majority of the applicants were in the age group of 54-57.

Most of them applied on grounds of poor health and personal reasons.


Benefits by ORES

introduced for the benefit of the employees

maintain the profits of the concerned Management.

With liberisation of Indian economy (1991-92) came Foreign funds, advanced
Technology

Capital investments that rendered the workforce surplus.

As Indian laws do not allow easy reduction of workers, the concept of V R Schemes came into
being.

Some person has so far issue that schemes were introduced for the benefit of the employees only.