News Column

India's banking sector expansion to create 2mn new jobs

February 11, 2014

India's banking sector expansion is likely to create 2mn new jobs in next 5-10 years, aided by issuance of new licenses and measures from Reserve Bank of India (RBI) and government to increase financial services to rural areas. According to Moorthy K Uppaluri, CEO Randstad India & Sri Lanka, the new banking licenses are expected to be issued in the first half of this year, and are likely to create job opportunities in near future. 

The banking sector is likely to be among top job creators this year, as well as it is likely to expand job creation in support areas, besides direct hiring. The hiring trend would get boost from public sector banks, as employees from banking sector are expected to retire in next few years.

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Source: IntelliNews - Weekly Reports

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