Banking Jobs 2016-17: 42000 vacancies to be filled in Banking industry this year

As per a tentative estimate, about 39,000 bank employees are expected to retire in the current financial year, of which around 18,500 are at posted at officer level, while 14,500 will be pensioned off at clerical level.

Created On: Aug 5, 2016 16:29 IST
Modified On: Aug 8, 2016 17:44 IST

With rapid expansion, Banking sector in India has been on a hiring spree as more and more number of Banking jobs are announced by both Public sector banks and Private sector. With government focus on making Banking one of the strongest pillar of India’s economy, the Banking jobs are expected to grow exponentially in the next year. As per tentative estimates, around 40,000 + vacancies are expected to come up at top public sector banks in the country at both clerical as well as officer level in coming financial year. Apart from top names like State Bank of India, several private banks are also expected to announce Banking Jobs in 2017, which will further make Banking sector a dream industry for several government job aspirants.

Why rise in Banking Jobs in India?

Many people have been perplexed with the sudden rise in the staffing needs of the Banking Sector. The sheer number of Banking job vacancies being announced currently is much higher compared to a few years before. The main reason behind the sudden surge in the bank jobs is due to the growth and expansion of the banking sector. The growth and expansion of Banking sector, especially public sector banks has further been spurred by special government focus and schemes like the recently launched and quite successful Pradhan Mantri Jan Dhan Yojna, Mudra Bank Yojna and others.

In addition to this, several reports and surveys expect that of the total number of 7 lakh public sector bank employees, thousands are reaching their retirement age in next 2-3 years. As per a tentative estimate, about 39,000 bank employees are expected to retire in the current financial year, of which around 18,500 are at posted at officer level, while 14,500 will be pensioned off at clerical level. Therefore, in order to fill this gap, banking sector needs to create more bank jobs and hire fresh talent in order to keep their growth graph intact.

Banking Exam Calendar 2016-17

Currently, IBPS (Institute of Banking Personnel Selection) is in charge of conducting the Bank recruitment exams and declaring results in order to cater to the staffing needs of public sector banks like SBI, NABARD, SIDBI and others. In order to help candidates prepare well for banking exams, IBPS has announced the tentative Banking Exam Calendar for 2016-17. Candidates can have a look at the Bank exam dates and start their preparations accordingly:

In addition to IBPS Bank Exams, candidates should also expect SBI to announce the vacancies and dates for SBI PO Exam and SBI Clerk Exam 2016 separately.

Banking Jobs in 2016 – 17

Currently, there are 22 public sector banks including the biggest one i.e., SBI and the newest one i.e. Bhartiya Mahila Bank, which will be hiring fresh talent as both probationary officer and clerk in the current financial year. In addition to them, even the five associate banks of SBI also are expected to announce a number of Bank PO jobs and Bank Clerk vacancies. In total, banking job aspirants can expect around 42,000 government jobs to be announced in 2016-17.

Although the number of banking vacancies is yet to be announced by IBPS or the respective banks, we have a general idea about the number of Bank jobs for 2016-17 by looking at the data of last year. The post and vacancy wise breakup of banking jobs of 2016 is given below:

In the financial year 2015-16, a total of 41597 bank jobs were created and fulfilled through IBPS exam. On similar lines, candidates should expect 11,000 to 13,000 Bank PO vacancies and 23,000 to 25,000 Bank clerk jobs to be announced in the year 2016.

However, these are bank jobs that are catered to through the IBPS examination. SBI might announce additional Bank jobs directly through its own examination later on. In addition to this, many private sector banks like ICICI and Axis banks are also expected to announce recruitment for Bank jobs through open examinations in the current fiscal. If we take all these vacancies in consideration, the total number of Banks jobs on offer during 2017 should touch around 50,000 mark.

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