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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OpenAI to open first India office in New Delhi
New Delhi: OpenAI, the maker of ChatGPT, on Friday announced plans to open its first office in India later this year, selecting New Delhi as its base. The decision comes as India emerges as the company’s second-largest user base after the United States and one of its fastest-growing markets, with weekly active users rising more than fourfold over the past year.
The office will support the government’s IndiaAI mission and strengthen partnerships with local stakeholders. It will also help OpenAI serve students, educators, developers, and businesses who rely on its AI tools for learning, creativity, and problem-solving.
“The level of excitement and opportunity for AI in India is incredible. India has all the ingredients to become a global AI leader, amazing tech talent, a world-class developer ecosystem, and strong government support through the IndiaAI Mission,” said Sam Altman, CEO of OpenAI. “Opening our first office and building a local team is an important step in our commitment to make advanced AI more accessible across the country and to build AI for India, and with India.”
Union Minister Ashwini Vaishnaw welcomed the move, calling it a recognition of India’s leadership in digital innovation and AI adoption. “With strong investments in digital public infrastructure, AI talent, and enterprise-scale solutions, India is uniquely positioned to drive the next wave of AI-led transformation,” he said.
While the exact location of the office is yet to be finalised, OpenAI has registered an entity in India and begun building a local team. The team will focus on collaboration with government, businesses, developers, and academic institutions, as well as on designing features tailored to India to make AI more affordable and accessible.
OpenAI’s technology is already being used in India across sectors including agriculture, recruitment, and governance. To deepen engagement, the company will host its first Education Summit in India this month, followed by its first Developer Day later this year.
Recruitment for various roles is underway, with further details on the office and upcoming initiatives expected in the coming months.
