Bank Recruitment: These Public sector banks set to hire 1 lakh people in FY19

Bank Recruitment: Despite facing cash crunch and other issues, several state-owned banks including State Bank of India, Bank of Baroda, Canara Bank and Syndicate Bank are likely to go ahead with recuitment of about one lakh personnel in the current financial year to cope with the requrement of new-age banking needs and grow their business, said an Economic Times report citing estimates TeamLease Services, which is staffing company.

The number is more than double the number the banks hired in the last two years, according to the Team Lease estimates. Notably, PSU banks collectively hired 95,000 in last two years for positions like clerk, management trainees and probationary officers, the ET said, adding that this didn't include lateral hirings. 

PSU banks will go ahead hiring for specialised positions like wealth management, analytics, strategy, digital banking and customer services, the report said, while quoting Sabyasachi Chakraverty, business head – banking & financial services at TeamLease as, “State-owned banks are turning competitive after battling mammoth bad assets.” 

“The need is to change the culture of PSUs to drive business, and this has been seen in their hiring patterns. They are now focusing on hiring talent in line with new age as well as private/multinational lenders. This, in turn, should yield results over a period of time,” Sabyasachi told ET.

The PSU are hiring more officers and few clerks, said the ET report, adding the TeamLease estimates that stated that barring SBI, 20 per cent of total employees in PSBs fall in the category of clerks. The SBI has currently around 45 per cent employees as clerks.

“Going forward, the plain vanilla generalist recruitment will give way to specific niche, strategy-based hiring,” said Mrutyunjay Mahapatra, CEO, Syndicate Bank, told ET. Notably, Syndicate Bank is recruiting on 500 posts in the financial year 2018-19.