Money & Banking

Indian Bank to hire 1,700 clerks, officers

G. Naga Sridhar Hyderabad | Updated on November 10, 2017

Mr T. M. Bhasin   -  PAUL NORONHA

Indian Bank will soon hire about 1,700 clerks and officers, according to its Chairman and Managing Director, Mr T.M. Bhasin.

“The proposed recruitment will take care of replacement needs due to retirements as well as attrition,'' Mr Bhasin told Business Line.

The bank is likely to recruit over 1,000 clerks, 600 officers and 100 specialist officers.

On the current need of manpower in the banking industry, Mr Bhasin said retirements, attrition and financial inclusion/expansion of banks would continue to drive recruitment during next financial year as well.


Indian Bank would launch full-fledged banking services on mobile phones in April.

“At present, we are talking to some service providers to have a formal tie-up. The formal launch of complete range of mobile banking services would be done thereafter,'' the CMD said.

About six lakh customers have already registered themselves for mobile banking and are getting transaction-based alerts.

Non-Fund Income

The bank plans to focus on increasing its non-interest income by various means including sale of insurance, loan-syndications and bank guarantees, among others.

“At present, non-interest income accounts for 11 per cent of the total income which was at Rs 2,641 crore as on December 31, 2010. We are aiming at increasing this to 15 per cent over next two years,'' Mr Bhasin said.

The objective behind increasing non-interest income was to maintain income stream as a measure to tackle growing pressures on net interest margin (NIM), he explained.

“The NIM for quarter ended December 2010 was 3.84 per cent which was an improvement over 3.71 as on March 2010. We hope to maintain this for some time by prudent management of balance sheet, asset-liability and steady income stream,'' he added.

The credit growth for FY 2011 could be around 22 per cent, he added.

Indian Bank posted 11.3 per cent increase in net profit at Rs 491 crore in the third quarter ended December 31, 2010.

Published on February 06, 2011

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