State Bank Of India Plans To Hire More Than 14,000 Employees, New VRS Scheme May Attribute To New Vacancies

The State Bank of India with its new VRS Plan has also said that the bank plans to hire more than 14,000 employees this year. This news is really big considering the low number of vacancies in IBPS PO & IBPS Clerk recruitments for the year 2020. SBI can actually be a saviour for banking aspirants as students are still awaiting the Probationary Officer Recruitment Notification from the bank. The following are the number of vacancies the State Bank of India has released so far in this year-

Sno Posts Vacancies
1 Circle Based Officers 3850
2 SBI SO 445
3 Channel Manager Facilitator 556
4 SBI Clerk (Advertisement 2019-20) 8000
5 SBI Apprentice 700
Not yet disclosed
Total vacancies released so far (including SBI Clerk Advertisement 2019-20) 13551

Considering that 13551 vacancies were released by SBI before the annoucement of the new VRS Plan, it is possible that now the number of vacancies may increase for SBI Clerk recruitment or the bank may also release the SBI PO notification to fill 1000 or so vacancies. As per the news 11,565 officers (from the JMGS– I to the Top Executive Grade Special Scale-I) and 18,625 award staff (clerical and sub-staff) members are eligible for the new SBI VRS scheme and if they take a voluntary retirement, this shall create a requirement for the bank to hire new recruits to fill the vacant positions.

Another point to consider is that the State Bank of India released the recruitment notification for clerks of Junior Associates earlier this year with advertisement number stating the year 2019-20. You can check that in the official notification pdf for SBI Clerk Recruitment. This means we can expect another notification for the recrutiment of clerk for the financial year 2020-21 may be next year once SBI has completed the process for the current recruitment. If we go by the news that the State Bank of India plans to hire more than 14000 employees in 2020, and consider that SBI Clerk vacancies are of the previous financial year then this leaves us with a possibility that the State Bank of India can release more than 5000 vacancies for the financial year 2020-21.

State Bank of India is one of the premier organisation in India and every banking aspirants eventually wants to work in it and news like this can be very motivating for students who were discouraged earlier because of the low number of vacancies in IBPS PO & Clerk. We have covered this news in detail here so make sure you read it whole to know how you could be the one this year to make it to the top bank in India i.e SBI

All About The News- What is the new SBI VRS Scheme?

SBI was in light due to the announcement of new VRS or Voluntary Retirement Scheme. As per this scheme a total of 11,565 officers and 18,625 staff of SBI qualify  to opt for the plan and they will be paid 50 per cent of their salary for the residual period of service this will help the bank to save around Rs 2,170.85 crore if 30 per cent of the eligible employees decide to go for the new scheme. This scheme was highly criticized by the former FM P. Chiadambaram and was even termed as “Cruel”. In response to his remark, SBI said that it actually plans to recruit 14,000 this year to man its expanding operations. The bank also clarified that this VRS scheme is not a cost-cutting measure instead it was means of giving employees more choice and “to provide congenial solution to employees who expressed desire for making strategic shift in their vocations, either due to professional growth limitations, mobility issues, physical health conditions or family situations.

SBI Vacancies 2020-21

As per the bank claims, this scheme aims to generate more opportunities for the banking aspirants and it infact tends to generate 14000 jobs this year itself. This is definitely a good sign for banking aspirants. Given below is the table comparing vacancies released by SBI last year to the number of vacancies the bank has released this year:

Post Vacancies released last year Vacancies this year
SBI PO 2000 notification not released
SBI Clerk 8000+ 8000+ but is expected to increase
SBI CBO Not Applicable 3840
SBI SO around 500 500+

Currently, SBI Clerk mains exam is in pipeline and we can expect the number of vacancies to increase in there as well and may be that’s why the result for the prelims is not yet declared and the mains examination dates are yet not announced because the organization might be planning to increase the number. SBI PO notification is still not released and the fact that organization is planning to expand its man force is a Clear sign that we can expect a good number of vacancies this year because currently there are only two ways for freshers to become a banker and PO is one of them. So if the organization is planning to recruit young, vibrant professional, one can expect the number of vacancies to increase for sure.

SBI CBO is another recruitment which will provide an opportunity for candidates to become an employee of this esteemed organisation as more than 3500 vacancies have been released this year.

SBI SO which is another important recruitment may see a jump in the number as well as well as one can expect the Contractual recruitment to be released as well on a larger scale.

Overall we can expect a great number of vacancies to be released this year. 

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