RBI: Employees decreasing in public sector banks, private banks recruiting faster
New Delhi| While government banks are reducing the number of employees since Corona, private banks have made aggressive recruitments. In FY 2019-20, there were a total of 7,70,409 employees in public sector banks which has now come down to 7,64,679.
According to the report of Reserve Bank of India i.e. RBI, there were total 5,54,950 employees in private banks in 2019-20. Now the number has increased to 8.46 lakh. That is, 2,91,580 staff have been recruited. In the public sector banks, 5,730 employees have decreased over the same period.
According to experts, private banks have strengthened access and financial services by expanding branches in tier II and III cities and venturing into rural lending products such as agriculture, microfinance. On the other hand, government banks are not opening new branches that fast.
The number of employees of private banks has increased 1.5 times in five years. SBI had 2.49 lakh employees in 2020 in the government bank. Now this number has dropped by 17,152 to 2.32 lakhs. The number of HDFC Bank has increased by 96,556 to cross 2.13 lakh in the same period.
