SBI on MASSIVE Hiring Spree! 85% of New Recruits are Engineers (Not What You Think)

State Bank of India (SBI) is embarking on an ambitious hiring campaign, planning to onboard approximately 12,000 new employees in fiscal year 2025. Surprisingly, 85% of these recruits will be engineering graduates, though Chairman Dinesh Khara insists this is not a deliberate preference. The bank is focused on developing tech talent to adapt to the evolving banking landscape, which increasingly relies on technology for customer engagement. This initiative comes at a time when traditional IT job opportunities for engineers are dwindling, highlighting SBI’s commitment to fostering a skilled workforce for the future.

SBI Initiates Major Hiring Campaign

State Bank of India (SBI), the largest lender in the country, plans to recruit around 12,000 new employees in fiscal year 2025, with approximately 85% of these positions expected to be filled by engineering graduates. Chairman Dinesh Khara clarified that this trend is not by design and that there is no preferential treatment for engineering graduates in the hiring process for probationary officers and associate roles.

Adapting to a Tech-Driven Environment

SBI has already trained over 3,000 probationary officers and more than 8,000 associates in basic banking knowledge, preparing them for various business roles. This initiative aligns with the banking sector’s increasing reliance on technology to enhance customer engagement. However, many institutions are struggling to keep up with technological advancements.

Nurturing Tech Talent

Khara mentioned that the bank’s approach involves introducing new recruits to the banking industry and then guiding them toward suitable business and IT roles based on their skills and preferences. This strategy aims to create a consistent pipeline of tech talent for SBI.

Decline in IT Job Opportunities for Engineers

This recruitment surge comes at a time when attrition rates in the IT sector, a common career choice for engineering graduates, have decreased. As a result, IT firms are hiring less, even with a large number of engineering graduates available.

Investing in Technology Training

Khara highlighted SBI’s substantial investment in workforce training and pointed out that the bank has an in-house institute dedicated to developing technology skills. He stressed the necessity for all staff to remain technologically proficient, especially given the bank’s high transaction volume. Khara also noted the increasing scrutiny from regulators, with the RBI focusing more on technological compliance and imposing penalties for shortcomings.

SBI’s Tech Investment Exceeds Industry Standards

While Khara did not specify the bank’s exact technology spending, he affirmed that it exceeds that of many competitors in the sector. An official added that SBI‘s technology expenditures are significantly higher than the industry average of 7-8% of operational costs.