Public Sector Banks To Recruit 50,000 Employees In FY2025 To Support Expansion And Growth
Hyderabad, July 6 (Maxim News): In a major boost to employment opportunities in the banking sector, public sector banks (PSBs) are set to recruit around 50,000 personnel during the current financial year (FY2025), according to data compiled from various banks. The move is aimed at supporting expanding business operations, enhancing customer services, and strengthening digital and physical infrastructure.
Of the total recruitment, about 21,000 positions will be for officers, while the remaining will include clerks and support staff across India.
The State Bank of India (SBI), the country’s largest lender, is leading the hiring wave with plans to employ nearly 20,000 people in FY2025. This includes both probationary officers and specialized roles. SBI has already recruited 505 Probationary Officers (POs) and 13,455 junior associates to address customer needs at its over 22,000 branches nationwide.
These 13,455 junior associate roles are being filled across 35 states and union territories, ensuring equitable access to job opportunities. As of March 2025, SBI’s total staff strength stood at 2,36,226, including 1,15,066 officers. The average hiring cost per full-time employee for the current fiscal is reported to be Rs. 40,440.59.
Impressively, SBI maintains an attrition rate of less than 2% annually, a figure attributed to the bank’s employee-centric policies and welfare initiatives.
The hiring push doesn’t stop with SBI. The Punjab National Bank (PNB), India’s second-largest PSB, is also preparing to onboard 5,500 new employees this year. As of March 2025, PNB employed 1,02,746 staff.
Similarly, Central Bank of India plans to recruit around 4,000 new personnel, continuing its effort to scale operations and improve service delivery.
Focus on Subsidiary Monetisation
Alongside recruitment, the Union Finance Ministry has encouraged PSBs to monetize their investments in subsidiaries and joint ventures. Around 15 such entities are being considered for Initial Public Offerings (IPOs) or strategic divestments in the medium to long term.
To enable this, banks have been advised to strengthen governance, professionalize decision-making, and improve operational efficiencies in their subsidiaries. The Ministry emphasized that any fund infusion into subsidiaries should be accompanied by long-term value creation, enabling PSBs to unlock their full potential at the right time.
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