NEWS & ADVICE : SAVINGS ACCOUNTS
IDBI Bank to add 150 branches, 2000 employees next fiscal
By Neelima Shankar
Mar 8, 2013
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The public sector bank, IDBI Bank is planning to add another 150 branches and around 2,000 employees in financial year 2013-14.

Of the new 2,000 recruits, 500 would be for replacement and attrition and around 1,500 would be recruited as staffs for the bank's new branches.

"We have an advantage of being a young organization with very few about to retire," said Mr. R. K. Bansal, Executive Director, IDBI Bank.

The average age of IDBI Bank's employees is 30 years, which, Mr. Banal said, was lower than its peer set.

An attrition rate of 5-6 per cent for a PSU bank such as IDBI is on the higher side, but Mr. Bansal pointed out that a significant number of its employees were on contract.

With a predominant presence in urban areas, IDBI bank now looks to open more branches in rural and semi-urban areas to facilitate financial inclusion and priority sector lending.

As of end-December, 63 per cent (645 of its 1,019 branches) was in the urban areas. As of March 31, 2012, the bank's total staff strength was 15,435.


 


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