PSU banks to recruit in a big way amid global layoffs

PSU banks to recruit in a big way amid global layoffs
PTI
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First Published: Wed, Dec 03 2008. 06 03 PM IST
Updated: Wed, Dec 03 2008. 06 03 PM IST
New Delhi: Public sector banks in India, including the country’s largest lender State Bank of India (SBI), are in a brisk hiring mode, a move which is in sharp contrast to their global peers which have seen thousands of job losses in the last one year.
SBI is hiring over 4,200 employees for its six associates banks - a development that comes within a few days of its plans to recruit 25,000 people.
The bank is also recruiting more than 1,300 customer relationship executives on contractual basis for itself and its associates — State Bank of Bikaner and Jaipur, State Bank of Hyderabad and State Bank of Travancore.
SBI is hiring 1,200 customer relationship executives, while its associates banks are recruiting 140 executives.
Another PSU major Punjab National Bank is hiring 377 managers and officers to support its expansion plans.
The Delhi-based bank has invited applications for the post of chief security officer, assistant general manager (treasury), chief manager (treasury) and other officers and managers.
New generation bank IDBI is also hiring 652 people, with 256 managers for its retail banking business and another 220 managers in the SME financing division.
Besides, it is looking to recruit 176 assistant managers for the SME financing business.
The various associate banks for which SBI is looking to recruit the staff include SBBJ, State Bank of Hyderabad, State Bank of Mysore, State Bank of Indore, State Bank of Patiala and State Bank of Travancore.
There are over 1,000 vacancies each with State Bank of Hyderabad, State Bank of Patiala and State Bank of Travancore, between 240-440 employees would be recruited for each of State Bank of Bikaner and Jaipur, State Bank of Indore and State Bank of Mysore.
The recruitment drive for its associate banks follows SBI’s saying earlier last month that it would hire 25,000 people in the current fiscal.
However, foreign banks have been mostly trimming their payrolls, with biggest of them, Citigroup, recently saying that it plans to trim down its headcount by over 50,000 employees across the world, which reportedly includes about 1,000 staff in India.
Citi, which has already laid off over 25,000 people so far this year, plans to bring down its headcount to below 3,00,000 worldwide in the next few weeks, from more than 3,75,000 at the end of 2007.
American Express also recently said it would lay off about 7,000 employees globally, which includes about 100 employees in India.
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First Published: Wed, Dec 03 2008. 06 03 PM IST