Multiple choice Which is the first private sector bank to introduce Voluntary Retirement Scheme (VRS)? Federal Bank Ltd. ICICI Bank Ltd. Bank of Madura Ltd. Bharat Overseas Bank Ltd. Reveal answer Fill a bubble to check yourself C Correct answer Explanation Bank of Madura was the first private sector bank in India to introduce a Voluntary Retirement Scheme (VRS) for its staff, prior to its merger with ICICI Bank.