State Bank of India may slow hiring in next few years
We will try to keep the figure constant between 2.2 and 2.23 lakh over the next few years, says bank MD
State Bank of India, the country's largest lender, may go slow on recruitments during the next 2-3 years, a top bank official said here today.
According to A Krishna Kumar, Managing Director, the bank will try to maintain the employee strength at current levels even as it keeps expansion programmes in mind.
"We will see the extent of people who are retiring from the bank from all levels. So to that (extent) we may look at replenishing that stock. We will not try to increase. Right now, we have 2.23 lakh people working with us," Kumar said.
By March 2014, the employee strength may fall to 2.2 lakh, he said.
"So we will try to keep the figure constant between 2.2 and 2.23 lakh over the next few years. By reducing the staff all of a sudden, the other activity does not function effectively. But at the same time I should not increase my staff so much that my productivity and my expense becomes an issue," Kumar told reporters at a press conference.
As per SBI, the head count reduced by nearly 5,000 between March and December 2013. For the first nine months of the current financial year, SBI incurred Rs 17,225 crore towards staff expenses, up 35 per cent over the same period last year.
An RBI report last year said SBI ranks below the national average when it comes to business and profit per employee. As per data on the Indian banking sector, SBI's business per employee in 2012-13 was Rs 9.43 crore, compared with the aggregate for all banks at Rs 12.13 crore.
Replying to a query, Kumar said corporate credit offtake in the current quarter may not be attractive given the economic conditions in the country.
"There is reasonably good offtake in retail lending and housing loans. Probably even by March 2014, we don't see much offtake in corporate. But we will see fairly good offtake in retail and agriculture," he said.
On ATM operations, he said it is awaiting the RBI's decision on charging customers for using ATMs of other banks.
He said ATM operations break even only after there are 100-125 transactions a day and SBI-owned ATMs record 225-250 hits on an average per day across the country.
http://www.business-standard.com/article/companies/state-bank-of-india-may-slow-hiring-in-next-few-years-114021900563_1.html
Finance Ministers of India during
last ten years have built immense pressure on public sector banks for branch
expansion and for credit growth to gain political advantage but have done nothing to maintain quality and
quantity of bank staff which has caused and contributed all types of crisis in
public sector banks
It
is very much disheartening and painful that FM do not hesitate in
putting entire blame on bank staff for such crisis and denying banks
staff a respectful wage hike .
Read following link also
What the hell. Wht the sense in posting such article when SBI itself has announced arnd 1840 PO vacancies. Kindly dont publish such irrelevant articles, or the forum may loose its significance.
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