Public sector general insurance companies have received just a trickle of applications for voluntary retirement scheme (VRS) offered to development officers (DOs) following the finance ministry notification on January 2. The insurers have the right to transfer the remaining DOs who chose to stay back.
This is the first time since nationalisation of the industry back in 1973 that this cadre will face the threat of relocation, as per the notification issued by the finance ministry.
S K Mahapatra, secretary of General Insurers