50K vacancies to be filled up in PSU banks - P. Chidambaram

Indian Finance Minister P. Chidambaram had a meeting with PSU (Public Sector Undertaking) banks' heads on Wednesday and after the meeting he addressed the press. While talking to the press he said that in this fiscal 50,000 vacancies are to be filled up in the PSU banks of India.

Talking to reporters he said, PSU banks are expected to open 10,000 branches all over India, including 2000 Regional Rural banks. Adding more he also said, as the new branches needs human resources, PSU banks are expected to hire close to 50,000 people in this fiscal.

As on March 31, 2012 - PSU banks had a sanctioned strength of 8 Lakh employees and in the last fiscal recruitment for 63,000 vacancies has been done. Among the PSU banks, State Bank of India (SBI) has recruited the highest, 20-22,000 people, in the last fiscal.

As per the statement of Finance minister, this fiscal bank would follow the same trend and recruit higher number of personnel for around 50,000 jobs.

Entities like Institute of Banking Personnel Selection (IBPS) has been conducting exams all over India to choose the best personnel for banking sector, since few years - including urban and Regional Rural banks (RRBs). Recently IBPS has announced the exams for RRBs.

Apart from that P. Chidambaram also said about stalled projects and he had given importance to re-initiate these projects while talking with the banks' heads.

Above all, this is a good news for students preparing for banking sectors, as this fiscal the recruitment will be high and there chances to get into a bank is more.