The largest lender in the country plans to recruit about 10,000 fresh employees this fiscal year as part of a massive shift to improve the operations and technological capabilities of the bank.
The strategic move is geared towards modernising and amalgamating departments and branches spread all over India; it serves to meet an increasingly larger customer base and long-term requirements of the banking sector.
SBI Chairman C S Setty discussed this initiative, emphasizing that the recruitment drive will happen in technology and general banking. SBI has already begun to recruit about 1,500 technology professionals for data scientists, data architects, and network operators. Investing in human capability is a way SBI focuses on developing its digital edge in a competitive landscape. As of March 2024, SBI has a total workforce of 232,296 employees, of which 110,116 are officers.
According to Setty, the bank considers workforce development an ongoing process and plans to reskill and upskill current staff members to ensure that they continue to be agile about navigating technological developments and the increasing penetration of digital services. While it continues to hire, it is also planning to expand its physical reach across India by opening 600 new branches on top of the 22,542 branches it has as of March 2024.
This will help increase accessibility in newer regions and residential areas that still lack adequate access to such a very large network. SBI is well-positioned to become the banker to every Indian family with more than 65,000 ATMs and 85,000 business correspondents that cater to about 500 million customers.
Setty wants SBI to be at the top from the customer’s viewpoint, the shareholders’ viewpoint, and the people in the community as the most valued bank in its role that can support the financial ecosystem for India. In such a wholesome approach, it emphasizes the commitment of SBI to bring financial inclusion across the country.
SBI to hire 10,000 employees in FY25 to boost efficiency
