Monday, 17 November 2008

SBI to hire 25,000 persons this fiscal

Country's largest lender State Bank of India today 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.

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 per cent 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 per cent," he added.

Source: EconomicTimes

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