Public sector banks to hire about 50,000 manpower in current fiscal
New Delhi: Public sector banks will recruit about 50,000 manpower during the ongoing financial year to meet their growing business requirement and expansion.
Of the total fresh recruitment, about 21,000 would be officers and remaining would be staff including clerks, as per data collated from various banks.
Of the 12 public sector banks, the biggest player State Bank of India (SBI) is going to employ close to 20,000 including specialised officers in the financial year.
Initiating the process, SBI has already hired 505 Probationary Officers (POs) and 13,455 junior associates to enhance customer experience at its branches across the country.
The recruitment of 13,455 junior associates is aimed to fill vacancies across 35 states and Union Territories.
The total staff strength of SBI stood at 2,36,226 as of March 2025. Of this, 1,15,066 officers were on the rolls of the bank at the end of last fiscal.
Average hiring cost per full-time employee for 2024-25 was Rs 40,440.59.
SBI has a consistent track record of having attrition below 2 per cent each year, which is the result of the best-in-class engagement and welfare practices.
Country's second biggest public sector lender Punjab National Bank (PNB) intends to increase its headcount to over 5,500 in the current financial year.
As of March 2025, PNB has a total staff strength of 1,02,746.
Another state-owned lender Central Bank of India plans to recruit about 4,000 employees during the current financial year.
Meanwhile, the finance ministry has asked PSBs to look at monetising their investment in subsidiaries by listing them at bourses after further scaling up operations so that they realise good return.
There are about 15 subsidiaries or joint ventures of PSBs lined up for initial public offering or divestment in medium to long term, sources said.
Wherever required, banks should invest funds to scale up operations of their subsidiaries or joint ventures, sources said, adding, banks can look at unlocking value at an opportune time.
As a precursor to monetisation, sources said, banks should improve governance, professional decision-making and bring in greater operational efficiency in their subsidiaries.
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Rickelton's ton in vain as SRH beat MI by 6 wickets
Mumbai (PTI): Ryan Rickelton's whirlwind unbeaten ton was overshadowed by Heinrich Klaasen's unbeaten 65 as Sunrisers Hyderabad defeated Mumbai Indians by six wickets in an IPL match here on Wednesday.
Chasing an imposing 244-run target, Travis Head (76 off 30) and Abhishek Sharma (45 off 24) shared 129 runs for the opening wicket to set the platform for SRH.
Klaasen (65 not out off 30 balls) then displayed his all-round hitting abilities to guide SRH home with the help of Nitish Kumar Reddy (21) and Salil Arora (30 not out off 10) in 18.4 overs.
Earlier, Rickelton's knock powered MI to 243 for five.
MI rode on a 93-run stand between Rickelton (123 not out off 55 balls) and Will Jacks (46 off 22) in 7.1 overs for the opening stand to power the side.
MI skipper Hardik Pandya scored a valuable 31 off 15 balls before being dismissed.
Praful Hinge (2/54), Eshan Malinga (1/29), Sakib Hasan (1/39) and Nitish Kumar Reddy (1/31) were the wicket-takers for SRH.
Brief Scores:
Mumbai Indian: 243 for 5 in 20 overs (Ryan Rickelton 123 not out; Praful Hinge 2/54).
Sunrisers Hyderabad: 249 for 4 in 18.4 overs (Travis Head 76, Heinrich Klaasen 65 not out; AM Ghazanfar 2/51).
