Good news for the job seekers, SBI to hire 10,300 employees this year

Here is some good news for the bank job seekers who were disheartened by the subtraction of jobs last year as the country’s largest lender, State Bank of India is planning to hire 10,300 employees before the end of March 2019. The announcement comes as effect in the reduction of 15,762 employees due to the digitisation and retirements.

The corporate development officer at SBI, Prashant Kumar confirmed about the news of recruiting 2,000 Probationary officers and 8,300 clerical staff.

Kumar said, “Basically, we are replacing only about 75 percent of the retirements that are taking place given the cost and operational efficiency help by digitisation and the merger process. This year, we plan to recruit 2,000 probationary officers (POs) and 8,300 clerical staff, of which 1,100 are from the reserved category which we have to mandatorily recruit”.

The public-sector bank on March quarter in FY18 witnessed the second-highest loss of the banking sector with an estimated amount of Rs 7,718 crore loss. As a result, the workforce reduced to 2,64,041 from 2,79,803 in the march end.

According to Kumar, “A large part of the reduction is due to the retirement of about 12,000 employees and the additional 3,500 employees from associate banks opting for voluntary retirement scheme post-merger”.

As per the SBI’s investor presentation, 3,211 new employees have joined between April 2017 and March 2018 while 18,973 employees retired thus giving a decline of 2.34 percent of employees in FY18.

SBI is currently going with a complete transformation in the training of the employees and the focus is on developing the leadership, technology, innovation and improving the skills in the bank.


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