Massive Hiring Surge in Public Sector Banks: 50,000 New Roles this Year
Public sector banks are set to recruit around 50,000 personnel during the current financial year to support business growth and expansion. State Bank of India leads with about 20,000 hires. The finance ministry encourages banks to monetize investments in subsidiaries through listings or divestments.
- Country:
- India
Public sector banks across India are gearing up for substantial recruitment, seeking to bring on board approximately 50,000 new employees within the current financial year. This hiring wave aims to support the banks' burgeoning business demands and expansion strategies.
Leading the charge, the State Bank of India (SBI) plans to recruit nearly 20,000 individuals, including specialized officers. The bank has already initiated this process, having recruited 505 Probationary Officers (POs) and 13,455 junior associates, all in an effort to enhance customer service across its extensive national network.
Meanwhile, the finance ministry has advised public sector banks to consider monetizing their investments in subsidiaries by listing them on stock exchanges. This strategy aims to optimize returns amid expansion and governance enhancements in the banks' subsidiary operations.
(With inputs from agencies.)
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