Page 4 - Public Sector Banks

Public sector banks to hire about 50,000 manpower in current financial year

Public sector banks will recruit about 50,000 manpower during the ongoing financial year to meet their growing business requirement and expansion. Of the total fresh recruitment, about 21,000 would be officers and remaining would be staff including clerks, as per data collated from various banks. Of the 12 public sector banks, the biggest player State Bank of India (SBI) is going to employ close to 20,000 including specialised officers in the financial year. Initiating the process, SBI has already hired 505 Probationary Officers (POs) and 13,455 junior associates to enhance customer experience at its branches across the country. The recruitment of 13,455 junior associates is aimed to fill vacancies across 35 states and Union Territories. The total staff strength of SBI stood at 2,36,226 as of March 2025. Of this, 1,15,066 officers were on the rolls of the bank at the end of last fiscal. Average hiring cost per full-time employee for 2024-25 was Rs 40,440.59. SBI has a consistent

FinMin pushes PSBs to expand branches amid private sector competition

Amid rising competition from private and small finance banks, PSBs have been asked to scale up physical infrastructure and cover over 200 unbanked population clusters

Risk-on mood to improve in H2 2025; banks, financials top picks: MOFSL

Motilal Oswal sees risk-on sentiment improving in H2 2025, with banks and financials, led by ICICI Bank, HDFC Bank, and SBI, emerging as top investment picks

Credit growth may remain subdued despite 100 bps policy repo rate cut

Banks maintain credit growth guidance at 11-13 per cent and await CRR reduction and festival season before revising projections

FM Nirmala Sitharaman nudges public sector banks to push credit growth

After slipping to 12% in FY25, loans growth has fallen below 10%

Good show by banks as most register a rise in profit, but challenges ahead

Overall, public sector banks have put up a better show than private banks on most parameters

94 candidates apply for six executive director positions in PSBs

FSIB likely to hold interviews month-end

PSBs see surge in staff productivity as business per employee rises

The number of employees in most PSBs has declined over the years. Bank of India witnessed a consistent decline, falling from 52,374 in FY23 to 50,944 in FY24, and further to 50,564 in FY25

PSBs outpace private banks in loan growth for first time in 14 years

Public sector banks saw 13.1 per cent loan growth in the financial year 2024-25, beating private banks' 9 per cent for the first time since 2011

Vigilance scrutiny: 'Sword of Damocles' for public-sector bankers

The word 'vigilance' is a dreaded term for PSB employees, and there are instances of this fear being misused by the higher authorities

Banks may hold back on fresh loans to Vodafone Idea as AGR clouds linger

Supreme Court (SC) had dismissed petitions by telecom companies Vi and Airtel seeking a waiver on paying interest, penalty, and interest on penalty components as part of their long-standing AGR dues

Sixty one per cent of floating rate loans linked to EBLR as of Dec 2024

Meanwhile, loans linked to marginal cost of funds based lending rate (MCLR) has reduced to 36 per cent as of December 2024, Reserve Bank of India (RBI) annual report revealed

Mis-selling of a different kind: Are PMJJBY, PMSBY statistical illusions?

If awareness remains low, frauds persist and genuine claims continue to be rejected, these initiatives will be successes only on paper, with negligible on-ground impact

MSME delinquencies fall to 5-year low of 1.8%: Cibil-Sidbi report

Delinquency levels in the MSME sector fall to 1.79% in March 2025 as credit rises 13% YoY to ₹35.2 trillion, with private banks showing the best performing loan book

Finance ministry pulls up public-sector banks over staff misconduct

Ministry asks lenders to strengthen handling customer grievances following several incidents

DoT once again knocks on finance ministry's door to repay MTNL debt

The total outstanding dues to the PSBs of MTNL is Rs 8,415.55 crore

FM Nirmala Sitharaman to meet PSB chiefs on Thursday for annual review

Finance Minister to meet PSB chiefs to assess FY25 performance, inclusion scheme rollout, credit and deposit growth, and digital banking progress

PSBs introduce AI-driven soft skill training to enhance customer service

It comes against the backdrop of stagnating deposit growth at major public sector banks (PSBs) and concerns in the Ministry of Finance about inconsistent customer service

Indo-Pak tensions: PSBs fortified ops in sensitive areas along border

Banks such as Punjab & Sind Bank, Canara Bank, Union Bank of India, and Punjab National Bank have asked their circle heads to stay in their zonal offices

Public sector banks post record ₹1.78 tn profit in FY25, growth up 26%

Public sector banks' cumulative profit rose to a record level of Rs 1.78 lakh crore in the fiscal year ended March 2025, registering a growth of 26 per cent over the previous year. All 12 public sector banks had earned a total profit of Rs 1.41 lakh crore in FY24. The year-on-year increase in profit in absolute terms rose by about Rs 37,100 crore in FY25. Out of the total profit of Rs 1,78,364 crore earned during the FY25, market leader State Bank of India (SBI) alone contributed over 40 per cent of the total earnings, as per the published numbers on stock exchanges. SBI logged a net profit of Rs 70,901 crore in FY25, 16 per cent higher than the previous fiscal (Rs 61,077 crore). In percentage terms, Delhi-based Punjab National Bank reported the highest net profit growth of 102 per cent to Rs 16,630 crore, followed by Punjab & Sind Bank with a 71 per cent rise to Rs 1,016 crore. During the year, all 12 public sector banks (PSBs) reported a rise in profit. Among the banks, which