Public Sector Banks Hire 13,223 Employees in FY26, Strengthen Workforce

Public sector banks in India have seen a significant increase in their workforce, with eight of the 12 lenders adding 13,223 employees in FY26, taking their combined workforce to over 6.28 lakh. The State Bank of India (SBI) led the hiring spree, accounting for nearly 67 per cent of the total workforce addition among the eight tracked banks.

Public Sector Banks Hire 13,223 Employees in FY26

The eight public sector banks that added employees include SBI, Bank of Baroda, Canara Bank, Punjab National Bank, Bank of India, Indian Bank, UCO Bank, and Bank of Maharashtra. The total employee strength of these banks stood at 6,28,203 at the end of March 31, 2026, compared with 6,14,980 in FY25, marking an increase of 13,223 employees.

The addition of employees comes as public sector banks report improved financial performance, stronger balance sheets and higher business growth, prompting lenders to strengthen manpower across functions, including technology, risk management, operations and branch banking.

Key Drivers of Hiring Spree

The hiring spree is driven by the need for public sector lenders to support expansion, customer servicing and technology-led transformation, despite rapid digitalisation and automation in banking operations.

Market Impact and Details

The SBI led the workforce expansion among the tracked lenders, adding 8,905 employees during the year, taking its workforce to 2,45,131 in FY26 from 2,36,226 in FY25.
Bank of Baroda added 1,685 employees, taking its workforce to 76,693 from 75,008 a year ago.
Bank of Maharashtra reported an increase of 1,005 employees, with its employee strength rising to 15,596 in FY26 from 14,591 in FY25.
Canara Bank added 567 employees during the year, taking its workforce to 81,827, while Punjab National Bank increased its employee strength by 527 to 96,738.
Bank of India’s workforce rose by 446 employees to 51,010, while Indian Bank added 153 employees to reach 40,224.

Key Takeaways

The eight public sector banks added 13,223 employees in FY26, taking their combined workforce to over 6.28 lakh.
The SBI led the hiring spree, accounting for nearly 67 per cent of the total workforce addition among the eight tracked banks.
The hiring spree is driven by the need for public sector lenders to support expansion, customer servicing and technology-led transformation.

FAQs

What are the key drivers of the hiring spree in public sector banks?

Which public sector bank led the hiring spree in FY26?

The SBI led the hiring spree, adding 8,905 employees during the year, taking its workforce to 2,45,131 in FY26 from 2,36,226 in FY25.

What is the total employee strength of the eight public sector banks that added employees in FY26?

The total employee strength of these banks stood at 6,28,203 at the end of March 31, 2026, compared with 6,14,980 in FY25, marking an increase of 13,223 employees.

Conclusion

The hiring spree in public sector banks is a positive sign for the Indian economy, indicating that lenders are investing in their workforce to support expansion, customer servicing and technology-led transformation. As the economy continues to grow, it is likely that public sector banks will continue to hire more employees to meet the increasing demand for banking services.

Investors and analysts should keep a close eye on the developments in the public sector banking space, as it is likely to have a significant impact on the overall economy.