SBI to hire 25,000 persons this fiscal

[Sukumar.N]

SBI to hire 25,000 persons this fiscal
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Country's largest lender State Bank of India has said it will recruit
25,000 people this fiscal, a move at a time when the banking majors
are reducing jobs to cut costs amid global slowdown.


"For the last so many years, the bank has not been recruiting people.
I understand the problem... This year, we are recruiting 20,000 people
in the clerical cadre and 5,000 supervisory staff," SBI Chairman O P
Bhatt said at a SBI officers association meet in the capital on
Sunday.



Interestingly, in recent time, many financial institutions has showed
pink slips to their employees as a measure of cost cutting due to
economic slowdown.


The world's largest bank Citigroup plans to lay off at least 10,000
employees and raise its credit card interest rates as part of its
plans to return to profitability.


US credit group American Express will also lay off its 7,000
employees, amounting to around 10 percent of its workforce.


Bhatt said that SBI's business is of more than Rs 10 lakh crore and is
also planning to increase its ATM from 9,000 to 15,000.


He pointed out, "Today we have got a largest technical network in the
world, nearly 25,000 units are connected on core banking."


The bank is also improving in other areas as well, Bhatt said.


"In whichever parameter you choose, we have done extremely well and
that because of you (its employees)...In home loan this year, we have
become the leader and in education loan also, our share is 57
percent," he added. (DD-16.11)

N.Sukumar
Research Analyst
www.kences1.blogspot.com