Money & Banking

SBI opens doors to retired employees on contract

G Naga Sridhar Hyderabad | Updated on July 23, 2020 Published on July 22, 2020

Those up to 63 years of age are eligible to apply

If you are a retired employee of State Bank of India (SBI), here is good news. The bank has opened its doors again to former employees for different roles.

The recruitment is being conducted by the Local Head Offices (LHO) or circles of SBI, depending on their respective human resource requirements.

Though the process of hiring retired employees started in the Delhi circle of SBI a couple of months ago, the same model is being adopted now by the SBI circles of Hyderabad, Amaravati, Patna, Mumbai Metro and Maharashtra, among others.

 

Those up to 63 years of age, who served as Scale I to Scale V officers and retired at 60, are eligible to apply. Those who had opted for voluntary retirement or been dismissed from service are not eligible.

The positions available vary from circle to circle and include posts in/of Digital Transaction Banking, FIMM Network, Any Time Banking, Business Correspondent Facilitators and Channel Managers/Supervisors.

Monthly remuneration

The monthly remuneration being offered in ₹30,000-40,000. The appointment will be for a one-year period, but could be extended by another year, as per a notification.

When asked about the number of vacancies, a senior SBI official said a consolidated number cannot be given as the recruitment is being driven by the local needs of SBI circles. The bank is now in ‘silent’ period ahead of first quarter results announcement. However, according to sources, over 500 could be hired.

The retired employees of other public sector banks will be considered if there are not enough applicants among former SBI staff.

While SBI did not give any formal reason for hiring retired employees again, sources attribute it to the bank’s plan to tap into an available talent pool amid difficulties in conducting regular recruitments in pandemic times. There could also be the possibility of cost optimisation.

Incidentally, SBI is the largest recruiter of banking personnel every year (both clerks and probationary officers) and the hiring of retired staff might impact the regular recruitment to an extent.

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Published on July 22, 2020
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