Calcutta, Nov 25 :    Calcutta, Nov 25:  The city-based Uco Bank has decided to offer a voluntary retirement scheme to its employees from January 1. The bank will offer 50 per cent of the ex-gratia amount to its employees in cash and the rest 50 per cent will be paid in one lump sum on completion of five years from the date of the scheme, with interest payable at 10 per cent per annum. The bank plans to trim its workforce from 32,000 at present to 28,000. While Uco is offering this mode of payment, Andhra Bank has decided to offer the entire ex-gratia amount in cash. Its VRS opens on December 1. An employee seeking voluntary retirement under the scheme will be entitled to the ex-gratia amount which is equal to 60-days' salary last drawn for each completed year of service or salary for the number of months service left, whichever is less. Bank of India, which has already come up with its VRS, has received 6,000 applications till date. The Bank of India scheme is offering 50 per cent of ex-gratia in cash and the rest 50 per cent of the ex-gratia amount will be paid by way of the bank's term deposits receipt at the rates applicable to the stafff members for a period of five years, with a lock-in period of three years. Similarly Punjab National Bank has received 6,000 applications for its VRS. Oriental Bank of Commerce, whose VRS will open on December 1, is also offering 100 per cent cash payment to its employees. However, the main concern for bankers is that the schemes may see a major exodus of talented people. B. Samal, chairman and managing director of Allahabad Bank said, 'We are worried that talented and skilled people will leave the bank. But we have to trim our workforce as per the RBI's instructions.' A senior Bank of India official added that about eight general managers, eight deputy general managers, 30 assistant general managers and more than 100 chief managers have also submitted their applications. Allahabad Bank's VRS opens on December 1. United Bank of India however has not yet circulated the VRS among its employees, though the board has approved the matter. Biswajit Choudhuri, chairman and managing director of UBI said, 'We will come up with VRS in this fiscal. We are looking into the finer details of the scheme. We will also not like to see talented people leave the bank.' The unions too are worried about the post-VRS scenario. 'We wanted to discuss the matter with the finance minister Yashwant Sinha and he said that more professional people will be brought in from the market. But the banks will have to offer fantastic salaries to them. Where will the banking industry get so much money?' said S R Sengupta, general secretary of All India Bank Officers' Confederation.