SBI to hire 3,000 recovery officers again

The bank is looking to hire 3,000 people for the position of Officer (Marketing and Recovery) for its rural operations on contractual basis.     

SBI said in a public announcement, seeking applications by August 16, that the positions would have a contract period of two years.     

Previously, SBI had announced in October 2007 plans to hire 3,000 marketing and recovery officers whose job profile would include "soft recovery" of loans.     

Besides, these officers would also market the bank's products, conduct pre-sanctioned survey, file applications and verify the documents.      

While the emoluments being offered in the latest hiring drive could not be ascertained, in its October announcement the bank had said these officers would be given a compensation package of Rs two lakh per annum.     

According to SBI's latest annual report, the bank had a total 1,79,205 employees as on March 31, 2008  making it the biggest employer in the country's banking space.     

These included over 32 per cent of officer and close to 43 per cent clerical grade employees.     

While SBI is understood to have formulated a strategy to hire these marketing and recovery officers for its rural operations much before, a number of banks are believed to have started moving their loan recovery activities in-house, rather than hiring outside agent after the strong stand taken by RBI as well as the courts.