Public sector banks record 33% jump in fresh hiring to cross 50,000 mark in FY 26

public sector banks in FY 2023-24. The figures for the last three years reflect a clear and sustained year-on-year expansion in workforce across public sector banks (PSBs) as part of the planned approach towards ensuring adequate staffing for them, the ministry said in a statement.

Recruitment in public sector banks (PSBs) is conducted through the Institute of Banking Personnel Selection (IBPS), in accordance with the specific manpower requirements of participating banks. This centralised and standardised framework ensures transparency and efficiency in the selection process.

The Finance Ministry’s Department of Financial Services has been undertaking sustained and targeted measures to strengthen human resource capacity in public sector banks through calibrated workforce expansion, improved operational efficiency, and governance-oriented reforms.

A well-calibrated scale of recruitment is a cornerstone of sound human resource management, ensuring optimal staffing and sustained operational efficiency. These efforts are aligned with the Government’s broader objective of building a resilient, customer-centric, and future-ready banking system, the statement said.

A significant augmentation of manpower is taking place to meet the growing business requirements of the banking sector. The enhanced scale of recruitment is expected to strengthen operational capacity, reduce workload pressures and improve customer service delivery. The increase in workforce will also support the expansion of banking services in underserved areas, leading to increased financial inclusion. The expansion in the network will enable PSBs to effectively support India’s growth trajectory.

The government remains committed to ensuring that PSBs are equipped with adequate, skilled, and future-ready human resources, enabling them to play a pivotal role in driving financial inclusion, supporting economic activity, and meeting the economy’s evolving needs, the statement added.