PSU banks on hiring spree,to recruit 45,000 personnel in FY'12

"Approximately 45,000 officers and staff would be recruited by (nationalised) banks this year," Institute of Banking Personnel Selection (IBPS) director, M Balachandran told PTI.
The institute, promoted by PSU banks and the Reserve Bank of India, has been providing assistance to these organisations in selection, promotion and placement of employees since 1984.

A large number of employment opportunities have emerged in the banking sector owing to branch expansion by various lenders, business growth and aggressive marketing, he said.
Balachandran, former Chairman and Managing Director of the Bank of India, said recruitment would also fill the gap created due to large scale superannuation in many banks.

At the same time, in a bid to increase fee-based income, banks have started activities like distribution of insurance policies, mutual fund schemes and other financial products.
This has necessitated recruitment of some specialised manpower in those segments, he added.

In a bid to standardising recruitment process and fill up vacancies faster, IBPS will conduct common entrance tests for officers and employees from July.

Those appearing in the exams will be judged on the basis of a scorecard and banks in need of people can call the successful ones for interview on that basis, he said.

Currently there are 26 public sector banks including six associate banks of State Bank of India (SBI) but IBPS exam would be for the 19 nationalised banks only.

SBI and its associates conduct their own exam and have different service conditions and benefits from nationalised banks.