Markets: Eerie calm

Markets: Eerie calm

it is not clear when market sentiment can change; as in the past, it can be quite sudden.
At a turn and yet not

At a turn and yet not

RBI could be tempted to cut policy rate to support growth at its bi-monthly review.

IBA says banks hired 3 lakh employees in past four years

Feb 16 2014, 16:11 IST
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SummaryState-run banks hired nearly 3 lakh personnel, including over 94,000 officers, in the last four years, according to data released by industry lobby IBA.

State-run banks hired nearly 3 lakh personnel, including over 94,000 officers, in the last four years, according to data released by industry lobby IBA.

The public sector banks hired 2,97,896 staff between April, 2009 and August, 2013, the Indian Banks Association (IBA) said, while refuting the reports that banks have gone slow or are not hiring at all.

"Banks are periodically making manpower assessment and recruiting personnel based on vacancies caused by superannuation, attrition, expansion of branches etc," IBA Deputy Chief Executive K Unnikrishnan said.

He said the 73,258 employees were hired in FY 2013, while for the period between April and August 2013, the state-run banks hired 52,348 people, indicating a surge in hiring activity.

A bulk of the hiring was at the clerical level, with 1,74,786 people being recruited during the four years and five months period, the IBA said, adding there were 28,467 hirings in the "sub-staff' category as well.

The National Organisation of Bank Workers had earlier this month alleged that the recruitment process in the banking sector has almost come to a standstill.

The data comes in the backdrop of a slew of estimates about the growth in banking sector, and the demand for additional manpower thereof.

According to a study done by trade lobby Assocham in September 2013, the banks will be needing up to 8 lakh personnel in the next six years. It estimated that state-run

lenders will alone hire 50,000 personnel in FY 2014.

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