SBI on MASSIVE Hiring Spree! 85% of New Recruits are Engineers (Not What You Think)
SBI, India’s largest bank, is on a hiring spree! They’re bringing in a whopping 12,000 fresh graduates, with a surprising twist: 85% are engineers. Despite this tech focus, the bank assures these engineers will be trained for various roles, not just IT. This move comes as the banking sector embraces technology and the competition for tech talent heats up.
CONTENTS: SBI on MASSIVE Hiring Spree
SBI hiring many engineers?
– SBI on MASSIVE Hiring Spree
Around 85% of approximately 12,000 new recruits slated to join SBI, the nation’s largest lender, in the fiscal year 2025 are graduates in engineering, according to Dinesh Khara, the chairman. Khara emphasized that this recruitment trend is not intentional and there is no preference towards engineering graduates in the selection process for probationary officer and associate roles.
Banks train for tech shift
Following the training of more than 3,000 probationary officers (POs) and over 8,000 associates with basic banking knowledge, they will be assigned to different business positions. This transition coincides with the banking sector’s growing reliance on technology to engage customers innovatively. Simultaneously, some institutions are facing hurdles in adapting to technological advancements.
SBI grooms talent for tech roles
“We introduce them to the banking sector initially and then direct them towards different business and IT roles based on their skills and inclinations. This approach ensures a steady stream of tech talent for the bank,” Khara stated in an interview with PTI.
Fewer IT jobs for engineers
This development occurs amidst a decrease in attrition within the IT sector, which is a popular career path for engineering graduates. Consequently, there is reduced hiring by IT firms despite a surplus of engineering graduates.
SBI Upskills for Tech Compliance
Khara emphasized SBI’s significant investment in training its workforce and highlighted the existence of an in-house institute dedicated to fostering technology skills. He stressed the importance of every staff member staying updated on technology, especially considering the bank’s substantial transaction volume. Khara underscored that technology is crucial and cannot be overlooked, noting the regulator’s regular guidance on such matters. Recently, the RBI has intensified its focus on technology and imposed penalties on banks for deficiencies in this area.
SBI Spends Big on Tech
Khara refrained from disclosing the exact technology expenditure of the bank but emphasized that it surpasses that of other institutions in the industry. An official added that the bank’s tech spending is significantly higher than the industry average of 7-8% of operational expenses.
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