Public sector banks step up hiring

If you are aspiring for a bank job, here is some good news: Public Sector Banks (PSB) have stepped up hiring in various categories. 

The recruitment data of the public sector banks including State Bank of India (SBI) revealed that compared to last year, the total recruitment for the much-coveted probationary officers and clerks has gone up significantly this year and bankers are expecting the trend to continue for next year as well.

In 2024, the Institute of Banking Personnel Selection (IBPS) released notifications for 10,979 vacancies of Probationary officers, specialist officers and clerks as against 8,996 vacancies in 2023.

Except in the year 2023, there has been a steady increase in recruitment of nationalised banks from 6,721 posts filled in 2020.

The State Bank of India conducts recruitment process on its own and its hiring for clerks too has increased from 7,820 in 2020 to 8,283 2023.

The vacancies of SBI POs had increased substantially from 1,673 in 2022 to 2,000 in 2023.

“SBI is yet to release the notifications for clerks and POs for this year, and we are expecting an increase in vacancies,’‘ C S Vepa, former director of National School of Banking and present director of Vepa Academy told businessline.   

“A significant portion of the banking workforce is approaching retirement age, creating more opportunities,’‘ Vepa added. 

According to a senior SBI official, the banking sector in India is on a “new round of expansion” after COVID-19.

“The push for financial inclusion and branch network expansion in rural and semi-urban areas creates additional demand for clerical and officer positions and there has been an enhanced focus on marketing as well leading to more field-jobs,’‘ he said. 

In addition, lucrative career opportunities in fintech, IT, and private banking sectors have led to attrition in public sector banks, prompting more recruitments, said bankers.