80,000 PSU Bank Employees including Officers will retire in the next 2 years

Close to 80,000 new vacancies are expected in the top public sector banks across the country in the next two years as a rather large number of employees including officers are slated to retire by the end of fiscal 2016-17.

About 80 K PSU Bank Employees to retire –  80,000 new vacancies are expected

According to reports, almost 78,800 employees will retire during the current fiscal and the one after that. During fiscal 2015-16, the total number of employees to retire stands at 39,756. 19,065 of them are officers whereas 14,669 are clerks.

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Currently, there are 22 state-owned banks in India that includes the likes of State Bank of India (SBI), IDBI, Bharatiya Mahila Bank, among others. Keeping the vast vacancy in the mid-level position in mind, the government is currently planning to provide some flexibility in the hiring process.

Public sector banks generally make new recruitment to fill vacancies on an ongoing basis. Last week, Finance Minister Arun Jaitley stated that while PSU banks are keen on embracing campus recruitment, there are many legal difficulties associated with the process.

“The banks are extremely keen to do that (campus hiring) …there is now judgment of the Supreme Court which is not giving adequate flexibility to government banks how to do it and that is handicapped which the banks have flagged. We are examining the legal position. But as of today there is a legal impediments in that,” he had said.