SBI may hire up to 20,000 people next fiscal: Bhatt

The country's largest public sector lender State Bank of India (SBI) is likely to carry on its hiring spree to the next fiscal as it plans to recruit around 15,000 -20,000 people in FY11, its Chairman O P Bhatt said today.

"We have recruited 25,000 employees this year. Next year also, it would be somewhere around this number...We may recruit around 15,000-20,000 people," O P Bhatt said on the sidelines of an event here.

In 2008-09, the bank recruited 27,000 staff across various verticals, Bhatt said.

Earlier this month, Bhatt had said that the bank plans to induct around 2,000 probationary officers for rural business in FY10. In addition, the bank would hire 2,500 probationary officers.

SBI is in the process of inducting 11,000 clerks for marketing, banking and advisory services and 481 officers for marketing and recovery (rural) and technical officers (farm sector).

After launching an e-learning package of Indian Institute of Banking and Finance here, Bhatt highlighted the need to attract more quality manpower to the banking industry.

He also said that the staff should understand the nature of financial products such as complex derivative products, the mis-selling of which had contributed significantly to the recent financial crisis, prior to selling these to the client.