When the whole world is firing, SBI is hiring!
State Bank of India is one of the few companies, which is hiring. News like this is hard to come by. I just want to rejoice this moment for a while and put things into perspective. Airliners,Â manufacturing, IT, BPO and financial services has announced some kind of retrenchment. Even Reliance was trimming its workforce.
Banks worldwide are falling like 9 pins. US alone saw 22 banks collapse in the last 8 months. With this background, SBI’s hiring plans came as a breather. We might not be competing for those jobs but, it is good to know that our economy can create jobs when everyone else has failed. May be they were not created now but the timing is just perfect.
SBI will be hiring 4280 employees for its associate banks – Bikaner, Jaipur, Hyderabad, Mysore, Indore, Patiala and Travanore. OP Bhat, earlier announced that SBI will be recruiting as many as 25000 this fiscal. With 4 more months to go, the hiring season has just begun. I can only imagine the kind of competition these posts will have.
Digressing a bit from this – SBI is judged as the Best bank of the year 2008 by ‘The Banker Magazine’. The whole world came full circle from nationalization to privatization and back to nationalization. We all know that capitalism is the best way to create wealth faster. Recent rise of India and China is an example for that. But, would the same rule apply for banks?
Is nationalization of banks the only way to keep them sane and regulated?