25% staff of PSU banks to retire by 2020: Sinha

The government today said that an average 25 per cent of the total staff presently working in public sector banks will retire over the next five years.
"On an average, about 25 per cent of officers and employees would retire by 20202 in PSBs," Minister of State for Finance Jayant Sinha said in written reply in the Rajya Sabha.
PSBs assess and anticipate vacancies including retirements annually and take necessary action to fill the same including intimating their requirement to Institute of Banking Personnel Selection (IBPS) for making allotment well in advance, he said.
The government has granted managerial autonomy to the PSBs in the matters related to Human Resource including recruitment, he said, adding the government has also advised all PSBs to prepare a succession plan.

In a separate response, Sinha said RBI collects and compiles information on defaulters (non-suit filed accounts) for Rs 1 corore and above on half yearly basis and wilful defaulters (non-suit filed accounts) for Rs 25 lakh and above on quarterly basis from banks and financial institutions.
It is disseminated among banks and financial institutions for their confidential use, he said.
Besides, banks have been advised to submit the wilful defaulters' data for non-suit filed accounts to Credit Information Companies (CICs) from December 2004 onwards, he said.
Also the list of wilful defaulters (suit filed accounts) is now prepared by CICs and banks directly, he added.