SBI to hire lesser staff in FY18 due to merger with associate banks

Merger of five associate banks has brought some thousands of employees to SBI's total staff kitty.

Mumbai: State Bank of India, country's largest public sector bank, has indicated it will hire lesser number of employees in current financial year 2017-18 as the bank has an overflow of staff from associate banks.

“I don’t think we will be doing too many recruitments. On the clerical side, there will not be any recruitments and on the officers’ side, there will be some towards the end of the year,” quoted SBI chairperson Arundhati Bhattacharya as saying.

SBI's five associate banks -- State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore -- in April merged with their flagship company. As a result of the merger, the SBI has entered into elite club of world's 50 top banks.

In the beginning of 2017, the bank had issued notifications for new hires and released list of new recruits for the bank. The bank wanted to fill up as many as 2,313 openings for probationary officers early this year.

Bhattacharya said that her bank was flooded with inflow of employees from associate banks after the merger. "Now that will be adjusted by the end of the year as about 13,000 people have retired and 3,600 have opted for VRS," quoted her as saying.

The public sector lender has at present put up on its website vacancies for probationary officers and junior associates. "Its professionals requirement was met through lateral hires and management trainees," the report said.

( Source : Deccan Chronicle. )
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