Public Sector Banks To Hire One Lakh Staffs this Year

All Public Sector Banks to hire more than a lakh staffs this fiscal – the Economic Times reported citing staffing firm TeamLease Services that the state-owned banks like State Bank of India, Bank of Baroda, Canara Bank and Syndicate Bank are likely to hire one lakh people this year in various capacities which includes Wealth management, Digital banking etc.

As per Team Lease estimates this is more than double the number they hired in the last two years. Other than lateral hires, all PSU banks collectively hired 95,000 in last two years for positions like clerk, management trainees and probationary officers, the business daily said.

This time majority of chunks will be hired for the specialized domains like wealth management, analytics, strategy, digital banking and customer services. Public Sector Banks are changing their culture and more focus are now on drive business. They are now focusing on hiring talent in line with new age as well as private/multinational lenders. 

PSU Banks are now hiring more officers and few clerks. The ET report citing TeamLease estimates said  Except SBI, 20 per cent of total employees in PSBs now fall in the category of clerks. Only SBI has around 45 per cent employees as clerks.

Mrutyunjay Mahapatra, CEO, Syndicate Bank saying

“Going forward, the plain vanilla generalist recruitment will give way to specific niche, strategy-based hiring. Syndicate Bank is recruiting 500 people this financial year. He added that we need new type of manpower as they will be put in new areas like digital marketing and stressed asset recovery. Remunerations are also attractive at the first three entry levels compared to foreign and private lenders.