Public Sector Bank To Hire 2,00,000 Employees By 2013

R u preparing for Banks job ? Your Dream for Joining Public Sector Government Banks is going to be reality this year. Why ? All state-run banks plan to hire more than 200,000 employees including officers, clerks and sub-staff up to 2013.

It’s good time for all such candidates who are interested in doing jobs with Bank in financial services.

Public sector banks are running out of eligible employees due to many reasons, mainly,almost half of the working strength in State running banks are retired by 2012. Which will create a huge shortage in Banks in running branches and stretching the banks capacity to service its customers?

Keeping such thing in mind Public Sector banks including SBI has planned to hire more than 2,00,000 workforce including Officers, Clerks, Specialist officers etc. by 2013.
These are combined vacancies created by all the banks running in different part of India.

India’s largest lender State Bank of India (SBI) has planned to hire more than 33,000 candidates including more than 6000+ officers and 25,000+ clerks alone. These are not exact vacancy and there may be increase in seats depends on availability.

The other banks in the top hiring category include Syndicate Bank, Union Bank of India, Bank of India, Punjab National Bank, Bank of Baroda and Central Bank of India etc.

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The total vacancies for officers (Including Specialist Officers, PO etc) in Public Sector Banks during the period 2010-2013 are estimated at 85,000+ and for clerks at 99,00+. Total vacancies for Sub-ordinate staff which includes Attendees, Guards, PTS etc are estimated to be 26,000+.

With the economic boom and growth of banking in India, It is expected that Public Sector banks would need almost 5,00,000 employees by 2020.

It has been seen that due to increase in competitiveness , Risk factor and less remuneration in Public sector Bank, almost all the leading banks are fighting against iteration rate also.

Iteration was the main point of concern during meeting of various banks head and survey done by Reserve Bank of India (RBI).

RBI has suggested few things for Improving Iteration Rate in Banking Sector

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1. Extra care should be given on capacity building in the banking sector .
2. Focus should be on training, succession planning, experienced recruitment and better remuneration
3. There is a need for balanced incentives structure as compared to excessive risk-taking at work.

What I believe, there is less salary paid to banking professional compare to other government sector if compared on risk taking? There is a need for revision of Banking Regulation act 1949 for smooth running of financial services in India.