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SBI Plans 12,000 Hires, 250 Branches, NSE Stake Sale
SBI is India’s biggest bank and plans to hire many new workers this financial year.
It expects to appoint about 11,000 to 12,000 people in clerical and officer jobs.
The exact number could change if more employees retire or staffing needs change.
SBI also wants its branch network to grow by about 200 to 250 branches each year.
It may close or reorganise some branches while opening others in growing neighbourhoods and business areas.
Last year, SBI hired more people, including 1,500 technology specialists.
This year, it expects to need fewer technology specialists.
SBI and its subsidiary may sell up to 1% of their combined stake in the National Stock Exchange when its proposed IPO takes place.
State Bank of India expects to recruit about 11,000–12,000 clerical and officer-level employees during FY27.
The final hiring total may change based on retirements and emerging staffing needs, but SBI expects roughly 12,000 appointments.
SBI plans net branch growth of about 200–250 locations annually, while rationalising some existing branches.
The bank hired 25,633 people in FY26, including 1,500 specialist IT officers, but expects lower technology hiring in FY27.
SBI and SBI Capital Markets plan to dilute up to 1% of their combined National Stock Exchange stake through the proposed ₹30,000-crore IPO.
- Who
- State Bank of India, Chairman C S Setty, and SBI Capital Markets Ltd.
- What
- SBI plans to hire up to about 12,000 employees, expand its branch network by 200–250 locations annually, and potentially sell up to 1% of its combined NSE stake.
- Where
- Across SBI’s Indian operations, including newly developed residential colonies and commercially active districts.
- When
- During FY27; the report was dated September 6, 2026.
- Why
- To address staffing needs, improve banking coverage, and participate in the proposed National Stock Exchange stake divestment.
Key facts
- Planned FY27 hiring
- About 11,000–12,000 clerical and officer appointments
- Planned branch growth
- Approximately 200–250 net new branches per year
- FY26 hiring
- 25,633 employees: 4,640 officers, 19,340 associates and 1,653 contractual staff
- SBI workforce
- More than 2.45 lakh employees as of March 2026
- Proposed NSE stake sale
- SBI proposes to sell 0.65% and SBI Capital Markets 0.35%, together up to 1%
- Current NSE holdings
- SBI holds 3.23%; SBI Capital Markets holds 4.33%
- Proposed NSE IPO
- ₹30,000 crore, potentially India’s largest IPO
Quotes
C S Setty
Chairman of State Bank of India
“In terms of recruitment, I think we would be looking at around 11,000 to 12,000 appointments across both clerical and officer cadres this year. This number may vary depending on retirements and emerging requirements, but I expect we should close the year with around 12,000 recruitments”
CNBC TV 18
livemint.com
freepressjournal.in
“We propose to divest 0.65 per cent and 0.35 per cent by SBI Capital Markets because both of us hold the stake. So together, about 1 per cent as an SBI group... it could be less depending on any other shareholders joining.”
livemint.com
freepressjournal.in
Sources
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