SBI, PNB and Other PSBs to Hire 50,000 Personnel in FY25 Amid Business Growth

Public sector banks (PSBs) are set to recruit nearly 50,000 individuals during the ongoing financial year to support their expanding operations and growing business needs. This strategic recruitment drive will strengthen service delivery, address vacancies, and improve overall efficiency across bank branches in the country, as per news reports.

SBI and PNB Lead the Recruitment Drive

Among the 12 public sector banks, the State Bank of India (SBI) will take the lead by hiring close to 20,000 personnel, including specialised officers. SBI has already recruited 505 Probationary Officers (POs) and 13,455 junior associates to enhance customer experience at its branches across the nation. These junior associates will fill vacancies across 35 states and Union Territories.

As of March 2025, SBI’s total staff strength stood at 2,36,226, which included 1,15,066 officers. The bank maintains a consistently low attrition rate of under 2% annually, attributed to its best-in-class engagement and welfare practices. The average hiring cost per full-time employee for the fiscal year 2024–25 was ₹40,440.59.

Punjab National Bank (PNB), the 2nd largest public sector lender, plans to expand its workforce by over 5,500 employees in FY25. PNB’s current staff strength is 1,02,746. Additionally, the Central Bank of India has announced plans to recruit approximately 4,000 employees this year.

Finance Ministry Encourages Monetisation of Bank Subsidiaries

Alongside workforce expansion, the finance ministry has advised PSBs to monetise their investments in subsidiaries by listing them on stock exchanges once they have scaled up their operations sufficiently. This move aims to help banks realise better returns on investment.

As per the PTI report, currently, around 15 subsidiaries or joint ventures of public sector banks are in the pipeline for initial public offerings (IPOs) or divestment over the medium to long term. Officials noted that banks should inject capital to expand the operations of these subsidiaries if necessary and unlock value when the market conditions are favourable.

As a preparatory step towards monetisation, PSBs have also been encouraged to enhance governance frameworks, adopt professional decision-making practices, and drive greater operational efficiency within their subsidiaries and joint ventures.

Read More: Indian Banking System Liquidity Soars to 3-Year High of $3.74 Trillion: RBI data!

Conclusion

The public sector banking sector is undergoing significant transformation in FY25 with a robust recruitment push and a renewed focus on monetising subsidiary investments. These developments signal the banks' commitment to strengthening their human resources and financial structure for long-term growth.

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