The Hindu Business Line : PSU banks may scale up hiring by 30% next fiscal

Hyderabad, March 25 Public sector banks (PSBs) will be on a hiring spree in 2008-09 and a minimum of 20,000 posts are likely to be filled up if the recruitment projects lined up is any indication.

In 2007-08, the PSBs had hired over 15,000. With expansion plans of many a bank, this is expected to go up by about 30 per cent in the next financial year, according to experts.

“This is obvious given the upward swing in the banking industry. We alone will be hiring over 4,000,” Mr M.V. Nair, Chairman and Managing Director, Union Bank of India, told Business Line. The bank has just notified 1,000 clerical posts.

Increase in business

According to Mr R. Bhaskaran, Chief Executive Officer, Indian Institute of Banking and Finance (IIBF), there was a 20 per cent increase in recruitment during the current financial year over the previous year.

“I expect the hiring to go up significantly in 2008-09 due to increase in business opportunities in retail banking, marketing and expansion in rural banking,” he said. An informal estimate of IIBF puts the to-be hired figure of PSBs over 25,000, he added.

The largest PSB, SBI Group too has “mega recruitment” plans. “We have been receiving requests to conduct recruitments from our associate banks for next year. There will be a mega recruitment drive,” a senior SBI official said over phone from Mumbai.

Focus on specialists

Interestingly, the hiring is getting broad-based bringing in specialists along with generalists.

For instance, Indian Bank and IDBI are currently looking for specialist officers such as CAs, computer, law, industrial development officers, treasury, corporate and SME experts as per their Web sites.

“The banks now need not only clerks and generals officers, there will be opportunity for every one with talent and interest,” Dr K. Ramakrishnan, Chairman and Managing Director, Andhra Bank, said.

According to Mr B. Sambamurthy, Chairman and Managing Director of Corporation Bank, there would be a qualitative shift in recruitment with more focus on specialists. “It is not numbers but talent and expertise that matters,” he added.

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