PNB to hire 1,000 this fiscal; expand branch network by 10 pc

NEW DELHI: In the midst of large-scale layoffs within and outside India due to economic slowdown, the country's second-largest public sector lender, Punjab National Bank, plans to hire 1,000 people in the current fiscal, but none would be at entry level.

"We will certainly do lateral recruitment at various levels ... 1,000 people would be recruited (this fiscal)," PNB's executive director Nagesh Pydah said at the sidelines of a conference here.

Besides, the bank also plans to expand its branch network by 10 per cent in 2009-10, Pydah said. It has 4,600 branches across the country.

However, he said there would be no recruitment at the entry level as the bank has sufficient staff at that level. The bank's employee strength currently stands at about 58,000 people.

Incidentally, the bank has also initiated the process to recruit 738 employees, include management trainee, clerks, security officers and specialised professionals with law, finance and economics background.

Another public sector lender Bank of Maharashtra is also planning to recruit 600 staffs this fiscal, which include IIM graduates, chartered accountants and cost accountants.

While private banks in India and abroad have been doing massive layoffs ever since the economic downturn began last year, public sector banks in the country, including the market leader SBI, have been expanding their staff strength.

Last month, Institute of Banking Personnel Selection (IBPS) director M Balachandran had also said that public sector banks will hire over 30,000 personnel during 2009-10.

The institute, promoted by PSU banks and the Reserve Bank, has been rendering assistance to financial sector in the activities of employees' selection, promotion and placement.