India's largest bank State Bank of India (SBI) on Friday July 17,2015 said it plans to offer up to 3 % of annual profit to employees as part a talent retention and motivation initiative.
The bank has sought permission from the Finance Ministry in this regard, said Chairperson Arundhati Bhattacharya
SBI has about 2.3 lakh employees.
For the fiscal ended March 2015, SBI's net profit increased 20 per cent to Rs 13,101.57 crore as compared to Rs 10,891.17 crore for the year ended March 2014. SBI group's consolidated net profit rose 20 % to Rs 16,994.30 crore during 2014-15 fiscal as compared to Rs 14,173.77 crore in the previous fiscal.
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