Hiring in banking sector likely to go up by 30% this year: Says Experts

Hiring by both PSU as well as private lenders is likely to go up to 30 per cent this year, according to industry experts.

“The hiring scenario in the banking sector is extremely positive this year and is likely to be 80,000 to one lakh jobs, which is 25-30 per cent more than last year,” skill development firm TalentSprint Managing Director and CEO Santanu Paul told PTI here.

The rise in recruitment in the banking sector is mainly on account of both PSU and private lenders becoming bullish on branch and portfolio expansion, besides retirement and attrition factors, he said.

The Reserve Bank of India has announced giving licences to new banks to operate by the end of FY 2013-14, PSU Banks adding more than 8,000 branches in current fiscal and private sector banks, rural banks and foreign banks expanding their own branch network are factors that will huge job opportunity in the sector, he said.

To cope up with this kind of hiring and to include every geographies of the country in the process, the number of examination centres this year will increase to 210 from 45 last year, he said.

Private sector lender ICICI Bank’s net hiring this year will be about 5,000-6,000 as attrition and retirement is a common phenomenon every year.

“Our net hiring this year will be 5,000-6,000 due to expansion, attrition and retirement,” ICICI Bank Managing Director and Chief Executive Officer Chanda Kochhar said.

IDBI Bank Deputy Managing Director M O Rego said 75 per cent of the bank is corporate and 25 per cent is retail with only 38 branches mainly in the metros and state capitals.

“We were mainly into wholesale, but with retail expansion we expanded our branches and this year we are planning to add 300 branches across the country, for which we will need to recruit 2,000-2,200 people,” Rego added.

Currently IDBI Bank has about 1,082 branches across the country and one branch in Dubai.
Attrition in IDBI bank, which provides rigorous training and mentoring programme, is very low, he added.

Bank of Maharashtra Executive Director C V R Rajendran said to manage all aspect of banking an executive has to have experience in rural, semi rural, urban and metro branches.

"So when we recruit we want people from all geographies to man rural branches with right attitude and an understanding about the language and culture of the area," he added.
After the RBI giving licenses to new banks, he said, Bank of Maharashtra is expecting huge attrition.

"Our attrition level is very low till now, however, the RBI giving licenses to new banks we are expecting huge attrition plus 800 people are retiring this year. So, to prepare for such a situation we are hiring 30 per cent more than our required manpower. This year we will be hiring 2,000 executives," he added.

Source: The Economic Times