State Bank of India, one of the country’s largest public sector banks, is preparing for large-scale recruitment this financial year. SBI Chairman C.S. Setty said the bank plans to hire around 11,000 to 12,000 employees at the clerical and officer levels, adding to its current workforce of over 2.45 lakh. Last financial year, SBI had hired 25,633 people, comprising 4,640 officers, 19,340 associates, and 1,653 contract employees. The chairman noted that fewer hires would be required in the IT department this time compared to the previous year.
Alongside recruitment, the bank is also looking to expand its physical presence, with plans to add around 200 to 250 new branches to its network this financial year. Setty said there is a growing need to extend banking services into new residential colonies and emerging business areas across the country.
In a separate development, the SBI group is set to divest part of its stake in the National Stock Exchange as part of NSE’s proposed IPO. SBI may sell up to 0.65 percent of its holding, while its subsidiary SBI Capital Markets may sell up to 0.35 percent — together amounting to nearly 1 percent of the combined stake. SBI currently holds a 3.23 percent stake in NSE, while SBI Capital Markets holds 4.33 percent. The NSE IPO is estimated to be valued at around ₹30,000 crore and could turn out to be the largest IPO in the country’s history if it materialises.
The chairman, however, clarified that the bank currently has no plans to sell stakes in any of its other subsidiaries. Taken together, the recruitment drive, branch expansion, and the proposed NSE stake sale reflect SBI’s broader strategy to strengthen its banking network and market presence across the country.