SBI to Hire 12,000, Open 250 New Branches in FY27

SBI Chairman C S Setty announced that the bank plans to hire around 12,000 personnel in the ongoing financial year. This recruitment drive will include both clerical and officer cadres. The exact number may vary depending on retirements and emerging requirements.

The hiring drive is part of SBI's expansion plans, which also include adding around 250 new branches to its network. Setty stated that despite having a large network, there are still areas where the bank's presence can be improved. The bank is looking to rationalize some of its existing branches, which will result in a net growth of 200 to 250 branches per year.

As of March 2026, SBI has a workforce of over 2.45 lakh employees, making it one of India's largest employers. In the previous financial year, the bank hired 4,640 officers, 19,340 associates, and 1,653 contractual staff, taking the total number of hires to 25,633.

In addition to its expansion plans, SBI also plans to dilute its stake in the National Stock Exchange (NSE) through the exchange's proposed Rs 30,000-crore initial public offering (IPO). The bank and its subsidiary, SBI Capital Markets Ltd, together plan to dilute up to 1% of their stake in the NSE. SBI currently holds a 3.23% stake in the NSE, while SBI Capital Markets owns 4.33%.

The NSE IPO is expected to be the largest in the country's history, surpassing Hyundai Motor India's Rs 27,858.75-crore listing in 2024 and LIC of India's Rs 20,557.23-crore offering in 2022. The IPO has received regulatory approval and is expected to raise Rs 30,000 crore.

The expansion plans and stake dilution are part of SBI's efforts to strengthen its position in the banking sector. The bank's hiring drive and branch additions are expected to improve its services and increase its reach. The stake dilution in the NSE IPO is also expected to generate significant revenue for the bank.

The Indian banking sector is expected to see significant growth in the coming years, driven by increasing demand for financial services and government initiatives to promote financial inclusion. SBI's expansion plans and stake dilution are part of this larger trend.

In conclusion, SBI's plans to hire 12,000 personnel and open 250 new branches in FY27 are part of its efforts to strengthen its position in the banking sector. The bank's stake dilution in the NSE IPO is also expected to generate significant revenue. These developments are expected to have a positive impact on the bank's growth and profitability.

The expansion plans and stake dilution are also expected to have a positive impact on the Indian economy. The growth of the banking sector is expected to drive economic growth and promote financial inclusion. SBI's efforts to strengthen its position in the sector are part of this larger trend.

Overall, SBI's plans to hire 12,000 personnel and open 250 new branches in FY27 are a significant development in the Indian banking sector. The bank's stake dilution in the NSE IPO is also expected to generate significant revenue. These developments are expected to have a positive impact on the bank's growth and profitability, as well as the Indian economy as a whole.