PSBs' Employee Count Rises for First Time in 5 Years

Public sector banks in India have started hiring more people for the first time in five years.

Their employee count increased by 0.22% to 757,641 in the fiscal year 2024-25.

This is because their financial health has improved, and they are now able to hire more staff.

On the other hand, private banks saw a decrease in their employee count by 0.86% to 838,150.

Private banks are focusing more on using technology and digital tools instead of hiring more people.

Some specific banks like SBI and PNB increased their staff, while ICICI Bank saw a significant drop in its employee count.

The overall number of people working in the banking system in India increased to 1,808,587.

Experts believe that public sector banks will continue to hire more people in the near future, while private banks may wait until there is a sustained increase in demand.