State Bank of India, one of the largest banks of our nation, will be recruting almost 7, 200 officers in the current fiscal year. According to a newspaper report, nearly 8, 100 of its staff members are to retire during the current fiscal. J.N. Misra, Corporate Development Officer at SBI, said the bank intendedto hire 1,837 probationary officers and 5,400 assistant officers in FY15. He added that SBI offers a salary of about Rs 70,000 per month to fresh graduates who join as probationary officers.
The entire banking industry in the nation is coming across a shortage of manpower. The situation is specifically acute in state-owned banks where 75 per cent of the top management or those above the assistant general manager grade are due to retire by 2020, as estimated by Mckinsey India.
SBI chairman Arundhati Bhattacharya said that they are looking forward to bring in machines that could help the people save time on activities that do not require a lot of thinking and knowledge, such as cash counting. The bank plans to bring in cash deposit machines and cash recyclers.
During the last fiscal year, almost 7,600 SBI staff members retired and 35000-40000 are due to retire over the next four years. SBI, on the other hand, plans to issue differentiated bank licenses like a standalone payment bank in the time to follow. This in turn, will push up the demand for human resources and banks offering better salaries may corner the lion's share from the limited talent pool.
Misra further said that the overall attrition rate at SBI is just at 2.3 per cent while it is 6-7 per cent for those new employees who are joining as probationary officers.
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