After a long gap, public sector banks are now going in for a massive recruitment drive. Mumbai-based Bank of India (BoI) will be recruiting 1,000 staffers during the current fiscal. Almost half of the fresh recruits will comprise official level staffs and the remaining will be clerical employees. Speaking to FE, TS Narayanasami, chairman and managing director of the bank, said, “Our board has given its approval for the mass recruitment drive”.
On the reasoning behind the mass recruitment drive plan of his bank, Narayanasami said that age profile is the biggest problem faced by the banking sector as a whole and hence, “We want to go in for hiring people to meet the demand.” The bank’s new HR strategies don’t end here, as the bank has drawn up an ambitious plan to ensure the retention of its star performers.
“As per our attractive retention and succession planning for the year, we have already identified 1,000 staff members of our bank as star performers and soon we will be putting them for good and specialised training for various departments like treasury, credit, and such other future requirements,” said Narayanasami.
Speaking about some of the innovative approaches made by him in the bank, Narayanasami said that the bank has made a system of a new business group, under which all the zones of the bank have to refer the loan application of Rs 5 crore and above for approval.