Daijiworld Media Network – New Delhi

New Delhi, May 1: Public sector banks (PSBs) have significantly stepped up hiring, recruiting 50,552 employees in the financial year 2025-26 — a 33 per cent increase compared to 37,860 hires in the previous year, the finance ministry said.

In a statement, the ministry noted that offer letters were issued to over 50,000 candidates following recruitment drives conducted through the Institute of Banking Personnel Selection (IBPS).

The latest hiring adds to nearly 1.5 lakh employees recruited by government-owned banks between 2019-20 and 2024-25. As of March 2025, PSBs employed a total of 7,58,172 personnel, marking an increase after several years of stagnant or declining workforce numbers.

State Bank of India (SBI), the country’s largest lender, accounted for nearly 31 per cent of the total workforce with close to 2.4 lakh employees. Punjab National Bank had over one lakh employees, while Canara Bank reported a staff strength of 81,260.

The government had earlier informed Parliament that more than one lakh contractual workers were engaged by PSBs as of June 2025.

Data also indicates a shift in workforce composition, with officers comprising nearly 56 per cent of employees as of January 2025, up from 39 per cent in 2011, reflecting changing recruitment patterns.

The finance ministry said the increased hiring is aimed at strengthening operational capacity, easing workload pressures, and improving customer service across the banking network.