Home / Business and Economy / SBI Plans Massive 12,000 Hires and 250 New Branches
SBI Plans Massive 12,000 Hires and 250 New Branches
7 Sep
Summary
- State Bank of India aims to hire between 11,000 and 12,000 people this year.
- The bank plans to add approximately 250 new branches across India.
- SBI intends to divest up to 1% of its stake in the National Stock Exchange.
State Bank of India (SBI) anticipates a substantial hiring initiative, expecting to bring on board approximately 11,000 to 12,000 new employees during the current financial year. These appointments will span both clerical and officer positions, with the final numbers potentially adjusting based on retirements and evolving operational needs.
The bank is also embarking on a physical expansion, planning to inaugurate between 200 and 250 new branches. This growth will focus on areas identified as having 'white space,' such as new residential zones and active commercial districts, aiming to enhance SBI's reach.
In a strategic financial move, SBI, along with its subsidiary SBI Capital Markets, intends to reduce their collective shareholding in the National Stock Exchange. They propose to divest a total of 1% of their holdings as part of the NSE's upcoming Initial Public Offering.
