80,000 officers and staff in Public Sector banks will retire in two years

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In the next 2 years, there is a need of 80,000 officers and staff in Public Sector Banks, like, State Bank of India and others. In the next two years, large number of employees working in these banks would be retiring. The number of positions which would arise is estimated to be around 80,000.

Employees working in the PSBs at Officer, clerk and sub-staff level will be superannuated in the following years. As many as 78,800 employees will retire during the current fiscal and next fiscal. During the current financial year, 39,756 employees are retiring. This includes 19,065 officers and 14,669 clerks. About 39,000 employees would be retiring next fiscal. Of this, 18,506 officers and 14,458 clerks would retire from their service from various public sector banks.

Recently SBI Chairperson has announced that, 8674 employees of State Bank of India will be taking retirement this year. So, they have assured to fill up 2,000 positions with eligible candidates by March 2016. As per now, there are 22 state owned banks in India which includes, SBI, Bharathiya Mahila Bank and IDBI Bank.  And 5 associate banks under SBI. Considering the vast number of vacancies, banks are likely to select candidates on contract basis, through campus placements.

Public sector banks are looking to fill vacancies on ongoing basis as per their requirements depending upon business volume, business growth, employee strength and retirement among others.

The Finance Ministry is likely to provide some flexibility to the PSBs with regard to recruitment at the middle level considering the large vacancy. Currently, they can hire on a contractual basis. Separately, the Finance Ministry has said that there will be no further hiring of CEO and Managing Directors in PSBs from the private sector.

 

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