PSU BANKS NEED TO FILL 40000 VACANCIES

As per the data available with the Dept. of Financial Services, about 40000 vacancies have been created in public sector banks so far this year due to retirements, resignations and expansion of business. Out of this, the State Bank group had 19000 vacant positions and Syndicate Bank and Central Bank of India have over 3000 vacancies each.


The current employee strength of all PSBs is about 672000, of which SBI group has about 200000 employees followed by Punjab National bank and Canara Bank. The present employee and the vacancy position of the banks is as under:

MANPOWER CRUNCH
Bank	Employees	Posts vacant
IDBI Bank	10,201	0
Corporation Bank	12,465	0
Bank of Maharashtra	13,631.00	0
Indian Overseas Bank	25,512.00	0
Canara Bank	44,090	0
Punjab National Bank	54,780.00	0
United Bank of India	15,111.00	216
Allahabad Bank	20,457	523
Bank of India	40,155.00	675
Vijaya Bank	11,975.00	717
Dena Bank	9,883	835
Andhra Bank	14,255	973
Indian Bank	19,993.00	1,022
UCO Bank	23,736	1,261
Punjab & Sind Bank	8,700.00	1,360
Oriental Bank	1465600%	1,550
Bank of Baroda	36,838	1,979
Union Bank of India	29,014	2,870
Central Bank of India	35,543	3,025
Syndicate Bank	25,068	3,210
SBI Group	205,896	19,047
	671,959	39,263

Indian Bank, UCO Bank, Punjab & Sind Bank, Oriental Bank of Commerce, Bank of Baroda and Union Bank of India also have over 1,000 vacancies each. IDBI, Corporation Bank, Bank of Maharashtra and Indian Overseas Bank have filled all posts.

SBI is planning to hire 13,000 persons in the current financial year. Bank of Baroda, United Bank of India, Andhra Bank and Indian Bank are planning to recruit 3,000, 1,500, 1,000 and 700 people, respectively, at various levels.
Apart from opening a significant number of new branches every year, many banks have ventured into new areas such as distribution of insurance and other financial products. The average number of offices per bank in India rose to 825 in 2008-09 from 776 in 2007-08. Business per employee also rose to Rs 7.5 crore last year from Rs 6.33 crore in the previous year. Wages as a percentage of total expenses came down by 50 basis points, to 13.52 per cent in 2008-09.


Source: http://www.business-standard.com/india/news/psu-banks-need-to-fill-40000-vacancies/381589/