By Goh Eng Yeow

THE Government will encourage banks and other financial institutions hit by the recession to take on new graduates by offering to subsidise the recruits' allowances for up to a year.

Banks and brokerages have been approached by the Monetary Authority of Singapore (MAS) to participate in the scheme, part of a wider programme to boost internships and attachment opportunities over the next one to two years.

The MAS said yesterday that $15 million has been earmarked for the initiative.

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