RBI has also initiated the process of releasing officials who had opted for its OERS. Sources said the apex bank was releasing its employees in phases. It was applicable for employees who have completed 25 years of full-time regular service and also completed 50 years of age as on August 1, 2003.
The package provided for 60 days of salary and dearness allowance (DA) for every years of service completed or total salary and DA for the residual period of service
