Recruitment of talented personnel in PSBs

Bank Recruitment

Recruitment of talented personnel in PSBs

There is no shortage of senior ranked managers in Public Sector Banks (PSBs). As of now, the banks are sufficiently staffed both at senior level as well as lower level.

PSBs follow a hierarchical structure where officers up to senior levels are promoted through internal selection process. The salaries are decided at industry level every five years by a bipartite negotiation process, further, there are incentive schemes both for employees as well as senior management. Besides this, the Board level appointments in PSBs are also available to the officers from the PSBs. This makes service in PSBs even more attractive.

Reserve Bank of India (RBI) has not made any such statement.

Hon’ble Supreme Court has dismissed the Special Leave Petition (SLP) filed by the Central Bank of India against the order dated 1st April, 2013 of Hon’ble Bombay High Court which directed the Bank to forbear from making any appointments against the permanent vacancies on regular basis by resorting to Campus Recruitment/Interview mechanism hereafter. However, there is no stay on regular recruitment of banking personnel.

Government has granted managerial autonomy to Banks in the matters related to Human Resource (HR) including recruitment as per their requirements. Government has also advised all PSBs to prepare a succession plan. PSBs, accordingly, manage their manpower requirements through succession planning, recruitments, promotions, training, etc. Moreover, PSBs are empowered to hire domain experts on contract basis at market linked salaries as per their requirement.

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