Banking Expansion May Create Up To 20 Lakh New Jobs: Experts

“With new banks being set up in Tier 2, 3 and 4 cities, there will be growing demand for business correspondents, sales executives and other banking professionals to reach out to the rural population,” Uppaluri said.

“In the months to come, we expect to see higher hiring momentum in tier 2 and 3 cities to begin with,” he added.

“Clearly, Tier 2,3 and 4 cities would be the biggest beneficiaries as most of the existing banks are looking to expand into these cities,” Manipal Academy of Banking Director C S Thammaiah said.

“Most of our partner banks have seen their per employee productivity going up and attrition coming down through a conscious effort of hiring from tier 3 and 4 towns,” Thammaiah noted.

Going by findings of Randstad India the top three cities that will witness maximum momentum in hiring in banking related jobs are — Mumbai, Chennai and NCR region.

“New banks will require staff for branches, as well as for functions such as operations, IT, risk management, compliance, among others,” MeraJob India Founder & CEO Pallav Sinha said.

“The new licensees will hire people with banking expertise for key positions, thereby triggering a revival in recruitment for banking,” he added.

“Banking jobs will be opening up at all levels although the entry level officers and clerical roles in public sector will see the highest intake.

“Existing banks will specifically need candidates in the client-facing and client-servicing roles,” Thammaiah said.

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