Employment at private banks dips in FY25 due to a drop at ICICI Bank; inches up in PSU banks

Private banks cut staff in FY25; small finance banks drive hiring: RBI

Private sector banks saw a fall in employee numbers in FY25, while PSU banks posted a marginal rise as small finance banks led hiring, RBI data showed.

Employment at private banks dips in FY25 due to a drop at ICICI Bank; inches up in PSU banks

RBI data reveals a shift in banking employment. Private sector banks reduced their workforce in FY25. Conversely, government-owned banks and small finance banks expanded their staff numbers. This growth, particularly from small finance banks, drove the overall increase in banking system employees. Major lenders like SBI added staff, while ICICI Bank saw a significant reduction.