SBI group to hire about 2,000 people

SBI group to hire about 2,000 people

MUMBAI: State Bank of India group would be hiring about 2,000 junior to middle level executives in the next six months as it looks to capitalise on the potential to grow rural lending and fee based businesses when peers are hesitant to grow, said two people familiar with the plans.

While people with experience in rural and agriculture will be recruited through newly set up micro finance vertical, appointments will take place in sales and call centres expanding credit card business.

“Besides the normal replacement recruitments, the bank plans to hire 400 for the newly formed financial inclusion vertical,” said a senior SBI official.

These people will have a background in agriculture and rural banking, the person said.

The bank created a separate vertical to focus on financial inclusion and micro markets (FI&MM) earlier at the beginning of June.

SBI Cards, which was listed a few months ago, is now gearing up with growth plans. The company is now planning to hire about 1,500 people across sales and call centre verticals.

While some will be mid-level executives, junior people would be more of feet-on-the-street sales people having Rs 15,000-25,000 a month salary range.

Candidates with graduation and MBA degrees can apply. Even young people with plus-two certification could also try but with prior experience, said a source.

SBI did not reply to ET’s mailed query.

Last year, the State Bank of India hired 2000 officers and 8000 clerks across the country. Those people are still joining the workforce. The latest planned hiring is in addition to that.

SBI raised its stake with the bottom-of-the-pyramid borrowers and asked SBI Life Insurance chief executive Sanjeev Nautiyal to head the initiative, ET reported on May 29.

SBI had said, it also aimed to improve service quality and availability of banking services through the bank’s network of over 63,000 customer points in rural, semi-urban, urban and metro areas.

The second largest credit card issuer in the country of late, showed improvement in business amid coronavirus-inflected economic challenges.

During the January-March quarter, FY20; the company reported a 71 per cent year-on-year decline in pre-tax profit to Rs 112 crore due to additional bad loan provisioning.

It offers various types of credit cards considering the need of retail clients including lifestyle cards, rewards, shopping, travel, and fuel.

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