Banking Jobs: There is a flood of jobs in the banking sector. Due to increase in business, not only government but also private banks have provided a lot of jobs.
The same trend will be seen in future also because due to the reforms taking place in the banking sector, strictness of RBI and digitalization, the business of banks will grow faster. According to the data of Reserve Bank of India (RBI), in the last financial year banks gave jobs to about 1.23 lakh people. This was the highest in the last 10 years. During this period, private banks distributed the maximum number of jobs. It is expected that banks will offer more jobs in the next financial year.
Private banks provided maximum jobs
Private banks, which have established their hold in metros and big cities, are now focusing on Tier-3 and rural areas. Therefore, private banks have been at the forefront in providing new jobs. They gave maximum jobs in customer facilities, loan, insurance and technology segments. Private sector HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, IndusInd Bank, IDFC First Bank, Bandhan Bank and AU Bank created hundreds of jobs daily due to their expansion plans in 2023. The maximum number of jobs were found in the banking sector in the financial year 2011. At that time about 1.25 lakh people got jobs in banks.
There are more than 17 lakh employees in banks
The total number of jobs in banks increased by 7.4 percent in 2023 compared to fiscal year 2022. At present, about 17 lakh people are employed in government and private banks. According to experts, by the end of the current financial year the number of new jobs will easily cross the figure of 1.25 lakh.
Preparation to take over business in small towns and villages
Private banks are seeing huge business opportunities in small towns and rural areas. Only Government Banks options are available in these areas. Therefore, by making new recruitments, private banks want to strengthen their hold in these areas. Apart from strengthening the digital platform, these banks are also emphasizing on increasing branches. The rapidly growing economy, retail loans and increasing demand for houses have also created an environment for increasing jobs. Besides, banks are also having to struggle to retain old employees.
