Lakhs of Bank Vacancies

10 Lakh Bank Jobs

Excerpts from Interview of Mr. M Balachandran, Former Director, IBPS.

 

“More than 50 per cent of banking personnel need to be new hires in next 4/5 years. Talent management is going to be a big challenge. 5,10,000 candidates are estimated to be recruited in Public Sector banks alone.

Roughly in the next 4 years, 1,66,000 people will be retiring and that gap would need replenishing. Also business is growing at approximately 9 per cent CAGR. All put together it amounts to 5,10,000 people or half a million people to be inducted in the next 4 years. And another half a million in non public sector banking and other financial services sectors including insurance. So in the next 4 years as many as 10 lakh additional persons have to be inducted.”

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