At a time when the global banks hit by financial turmoil are planning for massive reduction in their manpower, for Indian banks, it is time now to expand their human resources for undertaking their expansion plans. MV Nair, chairman and managing director, Union Bank of India, says that the bank has plans to recruit 5,000 employees, including 4,000 at officer level, by the end of the current fiscal.
Earlier, State Bank of India, Bank of India and Bank of Baroda had announced similar plans to recruit more staffers.
Additional staffers are necessary to manage new branches the bank wants to open in next few months. The bank has got the approval for the opening of 549 branches, including 10 specialised ones like industrial finance business and cash management services.
Talking to media on the sidelines of the announcement of UBI’s launch of the mobile banking facility ‘U Mobile’ in Mumbai on Friday, Nair said, “We got the approval from the RBI for opening of 549 new branches just a week ago.”
Disclosing a host of other initiatives from his bank, Nair said that his bank would be having nearly 2500 ATMs, from the existing number of 1500, by the fiscal-end. Internet usage operations, which stands at 28,000 right now, will go up to 65,000 by year-end, he said. Now, 15% of bank’s transactions were taking place through alternate channels and it will rise to 25% by the end of the year, said Nair.
Though the mobile banking facility, which was kicked off by the bank in association with Financial Softwares & Systems, will initially be restricted to fund transfer up to Rs 5000 and merchant payment upto Rs 10,000 per day, soon the facility will be extended for utility services too.
