PSU banks' headcount falls 10% in FY21-25; State Bank staff count shrinks by 10k

INCREASING technology adoption, coupled with slower-than-needed recruitments to replace retiring staffers as part of cost-cutting given margin compression banks have been experiencing since the pandemic, has seen eight of 12 public sector banks having lower numbers of headcounts at the close of fiscal 2025 than they had on their payrolls in the year to March 2021.

- BENN KOCHUVEEDAN @Mumbai

While these 12 banks led by SBI had employed 8,31,630 on rolls as of March 2021, the number has fallen to 7,58,172, a fall of 73,458 in this five-year period, as per the annual reports of these banks, which didn't specify whether all of this is due to retirement or there are other reasons like annual attrition.