Jobs in Public Sector Banks: A Rising Tide

8 04 2009

 

A quick look at the list of recruiters in the IIMs and other B-schools reveals unlikely names of various Public Sector Banks (PSBs) like Bank of Baroda, Union Bank of India, IDBI Bank, SBI etc.

 

 

PSBs are now on a major recruitment drive. SBI recently conducted the written test for Probationary Officers for 3,500 vacancies. Given below is a partial list of alerts on bank jobs posted in their respective websites.

 

 

· Central Bank of India Clerical Recruitment 2009 – 850 Vacancies for clerks

 

 

· Corporation Bank Clerical Recruitment 2009 – 425 Vacancies

 

 

·  Syndicate Bank wants 1300 Probationary Officers , 55 HR Officers , 400 Probationary Clerks (2009 Recruitment)

 

 

· Indian Overseas Bank Probationary Officer (PO) Recruitment 2009 Bank PO – 1250 nos

 

 

· Canara Bank Recruitment 2009 – Probationary Officers, Probationary Clerks, Investment officers Specialist Officers

 

 

I am perplexed as to why the PSBs have gone into a recruitment drive now. Only four-five years ago, most banks went through a major voluntary retirement scheme where thousands of officers and clerks were given a golden handshake. The stated reason was the increase in automation and the need to become competitive with respect to private and foreign banks.

 

 

Are the PSBs recruiting because bright young minds are available easily and cheaply (Rs. 0. 4 million p.a is the std PO package) in these recessionary times? Have they been given a dictat from their owner, the government, to create jobs in this dismal market  Are they seeing an opportunity to gain market share in the retail financial services market, when the private banks and NBFCs are in trouble? Perhaps it is a mix of all of these.

 

 

PSB jobs were the most coveted jobs in the 70s and 80s, after bank nationalization. They lost favor post-liberalization. Now they have become coveted again. The wheel has turned full circle.

 

 

   G. Mohan

 

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