25% retirement till 2020: Recruitment process in Public Sector Banks

25% retirement till 2020: Recruitment process in Public Sector Banks

 GOVERNMENT OF INDIA
MINISTRY OF FINANCE
RAJYA SABHA

QUESTION NO 896

ANSWERED ON 03.03.2015

Recruitment process in PSBs

896 Shri Balwinder Singh Bhunder

Will the Minister of FINANCE be pleased to state :-

(a) whether it is a fact that by 2020 around 35 percent of Officers/employees of Public Sector Banks (PSBs) would retire from service;
(b) if so, what preparations have been done by Bank; bank-wise to timely notify the vacancies and by IBPS to speed up recruitment process with a view to timely fill the vacancies;
(c) whether the Department of Financial Services (DFS) has issued any direction in this regards; and
(d) if so, the details thereof?

ANSWER

The Minister of State in the Ministry of Finance (Shri Jayant Sinha)
(a) The percentage of officers/employees that would retire by the year 2020 differ in Public Sector Banks (PSBs). On an average, about 25% of officers and employees would retire by the year 2020 in PSBs.
(b) PSBs assess/anticipate vacancies including retirements annually and take necessary action to fill the same including intimating their requirement to Institute of Banking Personnel Selection(IBPS) for making allotment well in advance.

(c) & (d): Yes, Sir. Government has granted managerial autonomy to the PSBs in the matters related to Human Resource (HR) including recruitment. Government has also advised all PSBs to prepare a succession plan.