Banking News Updates | PSB to Hire 1 Lakh people this Financial Year

Public Sector Banks, PSBs to Hire 1 Lac people this Financial year with an aim to revamp the banking system in the nation | Banking News Updates

Banking News Updates | PSB to Hire 1 Lakh people this Financial Year

Dear Aspirants,

Public Sector banks, PSBs releases a whole lot of opportunities for youngsters to join several institutions as a banker. These examinations have a high demand due to the scope of the work. As the level of competition is increasing every year, candidates need to remain in high spirits and full of confidence to compete in PSBs examinations. We have prepared this article on Banking News Updates to keep you updated about any future news.

As per a recent post by Economic Times, SBI, Bank of Baroda, Syndicate Bank, and Canara Bank are already in the process of releasing the recruitment for as much as one lakh people in an ongoing financial year. In an aim to push new age banking experience to these PSBs, Banks are looking to add more and more employees for service.

Needs for Hiring

Today, Business Today released an article claiming that PSBs have hired approximately 95000 personnel in the past two years for positions like Clerk, management trainees and Probationary officers (PO). Even after hiring 95000 personnel, 20 % of total employees fall in the category of Clerks. SBI is the only Public Sector Bank where 45% of employees are Clerks than officers.

Today’s world is all about Technologies and new age evolutions. Banks are also looking to keep up with the pace of this modern era by hiring young manpower to remain prolific in areas like digital marketing and asset recovery.

Revamping Average Age

Another PSB, Syndicate bank is on the verge of hiring people as the average age of employees have come down from 46.5 years to 37 Years in the last 2 years. The largest lender in the country, SBI will organize the upcoming recruitment drive. Apart from fresh hiring, the bank is also looking to appoint 5000 employees through lateral hiring scheme in order to keep up with the potential expansion on the cards over the coming quarters.

As institutions like PSBs are awaiting a new set of employees to run modern day banking, aspirants must keep an eye on any further update about PSBs hiring through this post on Banking News Updates. Stay tuned and keep updated.