State Bank of India (SBI) will hire more than 15,000 individuals in the upcoming fiscal year to reinforce its marketing team. These new recruits will also serve in the bank’s operations subsidiary and help expand the branch network.
The operations subsidiary, State Bank Operations Support Services, began operations last year. Additionally, the bank aims to inaugurate 300 new branches this financial year, a significant increase from the 139 branches opened in the previous year.
SBI Plans to Hire Probationary Officers in FY25
SBI Chairman Dinesh Khara announced that the bank is open to hiring as per requirements. They aim to onboard 11,000-12,000 probationary officers across different categories this fiscal year. Khara mentioned that about 85% of these recruits at officer and associate levels would be engineers, although there’s no preference. The recruits will undergo training in banking operations before being assigned various roles, including in the information technology segment.
SBI’s Recruitment Focus on Engineers; No Bias in Selection
SBI Chairman Khara revealed that around 85% of new officer and associate recruits will be engineers, but selection remains unbiased. They will receive training in banking operations before taking on roles, including in IT. Regarding branch rationalization, Khara clarified that SBI doesn’t plan to reduce branches but rather seeks areas for expansion, considering India’s growth. SBI currently operates 22,542 branches as of March 2023.
The operations support subsidiary has hired 8,000 individuals, mainly for semi-urban branches. Plans are underway to recruit for urban and metropolitan areas to facilitate doorstep banking and bring services closer to customers.
SBI Branches and Operations Support Subsidiary Overview
As of March 2023, SBI operated 22,542 branches. The operations support subsidiary has hired 8,000 individuals, mainly for semi-urban branches. Plans are in motion to recruit for urban and metropolitan areas, with approvals in place. This structure aims to provide doorstep banking to customers.
An official from the subsidiary mentioned that the annual intake exceeds 3,000. Employees are involved in various tasks, such as due diligence, marketing, and documentation. SBI officials stated that subsidiary staff also handle back-office tasks, marketing, and recovery. The subsidiary has shown promising results in follow-ups and recoveries. The goal for this year is to extend coverage to urban and metropolitan centers.
Many subsidiary employees are local residents, aiding in customer reach and reducing commuting costs.
SBI’s Approach to Staff Training and Branch Expansion
SBI Chairman Khara mentioned that new recruits will first learn about banking operations before taking on other roles, including in IT. Regarding branch rationalization, Khara emphasized that there are no plans for it. He believes India’s growth offers plenty of expansion opportunities, and they aim to identify areas for physical expansion.
Responding to concerns about staff expenses, SBI officials explained that working with the subsidiary entails lower expenses than direct employment with the bank. This gives the SBI group an advantage, especially in retail business operations.
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