Despite automation, banking to see big rise in hiring

Every year, around 12,000-15,000 people are recruited in PSBs in both clerical and officer positions

The financial services industry, more specifically banking, is expected to see a substantial rise in jobs in the next few years even as automation encroaches on most of its core activities.

Automation, chat bots and big data analytics programmes might take a toll on the sector in the next decade or so. But now, digital technology, together with physical labour, is scaling new heights in the banking sector. 

With financial exclusion being as high as 55-60 per cent of adult population, notwithstanding Prime Minister’s Jan Dhan push, banks will continue to hire — a number of well-trained people armed with