The Public Sector Banks (PSBs) plan to hire about 50,000 staff members during FY26 including 21,000 officers to expand their customer service capabilities and operational reach. State Bank of India (SBI) will initiate this recruitment drive by hiring approximately 20,000 personnel including specialist officers.
SBI has selected 505 probationary officers and 13,455 junior associates to expand its network of branches throughout India. The bank maintained a workforce of 2,36,226 employees in March 2025 with an attrition rate below 2% which indicates high employee engagement. During the year Punjab National Bank (PNB) will hire more than 5,500 employees and Central Bank of India will bring in 4,000 staff members.
The finance ministry has directed PSBs to generate revenue from their subsidiary and joint venture investments through IPOs or divestments at opportune times while enhancing governance and operational performance.
The first half of FY26 will face short-term challenges because of reduced NIMs and stagnant NII growth but analysts predict H2FY26 will bring improved liquidity and profitability. The earnings of Public Sector Banks will demonstrate long-term stability through an 11.1% CAGR from FY25 to FY27 despite current market challenges.
