New Delhi: While employee workload has increased in public sector banks (PSBs), recruitment has been inadequate, despite a decline in the number of branch counts.
Due to massive consolidation in the 2017–2022 period, branch counts of PSBs declined by 7,189. In contrast, private sector banks’ (PvSBs) branch count went up by 13,211 in the five years up to March-end 2022, the Hindu BusinessLine reported.
However, as mentioned earlier, recruitment has been inadequate in PSBs, but employee workload has increased, C.H. Venkatachalam, general secretary, All India Bank Employees’ Association (AIBEA), told the business daily. He also added that the number of bank customers have been increasing manifold in PSBs.
The trend of declining employee count, restricted branch expansion, and an increase in business per employee is an indicator that the government is preparing some of the PSBs for privatisation, S. Nagarajan, general secretary, All India Bank Officers’ Association, told the newspaper.
Separately, PvSBs generated more employment than PSBs over the last decade or so.
In FY23 alone, PvSBs added a net of 98,518 jobs, while PSBs head count declined by 3,385, the newspaper reported, citing Reserve Bank of India data.
However, the average business per employee was higher in PSBs at Rs 23.80 crore, as compared to that of PvSBs at Rs 15.02 crore, per data compiled by the Indian Banks’ Association.