BANGALORE: As the financial year ends, it is time for the experienced people to retire and companies to recruit new. Likewise, India’s one of the largest lender, State Bank of India, is now planning to recruit 7800 people when 8100 members of the staff is getting retired by this financial year. Arundhati Bhattacharya, chairman of SBI told that State Bank of India is planning to bring more and more machines for the staff so that the staffs don’t need to spend more time on activities that really don’t need much thinking and knowledge. They are bringing more technologies so that they will be able to manage with the limited staff they are planning to appoint.

According to an estimate by Mckinsey India, 75 percent of the top management or those above the assistant general manager grade are due to retire by 2020. 

SBI is planning to install 4500 cash recycle machines, which can be used for deposited cash withdrawal along with cash deposit machines that will reduce the work of the bank employee.  J N Misra, SBI's deputy managing director and corporate development officer told that SBI is planning to recruit 1,837 probationary officers and 5,400 assistant officers in 2015 financial year.

The new private banks like Bandhan and IDFC have already got the license from RBI. They will seek to draw talented manpower in order to compete with the established banks. The coming months will have a great demand of human resource in the banks with increased salary as The Center Bank is also planning to issue differentiated licenses.

Misra said, "I don't think attrition rate will go up at SBI due to the emergence of two new banks," SBI offers a salary of 70,000 the new graduates joining the bank. The overall attrition rate of SBI is 2.3 percent while for the new employees who are joining as probationary officers it is 6-7 percent. Misra added that the new employees are happy with the attrition.