In the next 5 years, banks will have to recruit almost 7.5 lakh people :

Mr M. Balachandran, Director, Institute of Banking Personnel Selection

Talent shortage is a universal problem. But perhaps nowhere else is it going to show up as much as in the banking sector in the country. About 7.5 lakh persons need to be recruited in the banking sector in the next five years.


 Mr M. Balachandran, Director, Institute of Banking Personnel Selection (IBPS), is one of the persons who play a key role in helping banks bridge this gap. 

What is the extent of talent gap in the banking sector?

In the next five years, commercial banks will have to recruit almost 7.5 lakh people. That means in five years' time, more than 60 per cent of the staff working in banks will be new and only 40 per cent will be experienced.

We need this scale of recruitment to provide for retirements, taking care of expanding business volumes as well as the problems of attrition

Source : Bussiness Line.