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Employee Attrition in Private Banks Increases by 25 Percent: RBI Report
The Statesman Bhubaneswar
|December 30, 2024
Employee attrition in private sector banks has witnessed an increase to about 25 percent, RBI said in a report.
It highlighted that this high turnover rate poses significant operational risk.
According to the latest Report on Trend and Progress of Banking in India 2023-24, employee attrition rates are high across select private sector banks and small finance banks (SFBs).
RBI report said that the total number of employees of private banks surpassed that of public sector banks (PSBs) during 2023-24, but their attrition has increased sharply over the last three years, with average attrition rate of around 25 percent.
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