Merger of 10 public sector banks: Impact on recruitment & vacancies
With effect from April 1, 2020, 10 Public Sector Undertaking (PSU) banks have been merged into four banks. Read below what will be its impact on the recruitment and vacancies.
With effect from April 1, 2020 midnight 10 Public Sector Undertaking (PSU) banks have been amalgamated into four banks. As a result of this mega-merger, the number of public sector banks in India has come down to 12 from 27 (in 2017). Oriental Bank of Commerce (OBC) and United Bank of India have been merged into Punjab National Bank (PNB). Syndicate Bank has merged into Canara Bank. Similarly, Indian Bank has been merged with the Allahabad Bank. Union Bank of India has merged with Andhra Bank and Corporation Bank.
With this merger of 10 public sector banks, banking aspirants might think what will be its impact on the recruitment process and vacancies. To solve the queries of candidates, Shiksha spoke to Gaurav Anizwa, who is currently working in an insurance company and provide coaching to the bank aspirants. He has discussed the pros and cons of the impact of bank merger on recruitment and vacancies.
Pros and Cons of bank merger
He said, “The merger will not lead to job loss or reduce the number of vacancies. The merger will result in an increase in the overall strength of employees, there will be growth in business. The banks might come up with more branches. As a result of this, the vacancies will increase. There will no impact on the number of vacancies.”
“One con can be due to the merger, the banks might in give more attention to business consolidation and not in recruitment. But this might not happen. For eg: when SBI Associate Banks, BOB, Vijay bank, etc were merged it is not that SBI did not come up with the number of vacancies. They had released vacancies for PO and Clerk too. The banks will become strong. There might be a time gap in the allotment process but not in the vacancies,” Gaurav added.
“IBPS PO, Clerk & SO exam dates have been announced. The recruitment will be conducted as per the schedule. One point is there might be changes in the number of participating banks,” he said.
Gaurav Anizwa further added, “Candidates must not worry rather than prepare for the upcoming banking exams like IBPS PO, IBPS Clerk, SBI PO, IBPS RRB, etc. They should not think about all this and study properly.”
Popularity of bank jobs
The popularity of bank jobs can be very well traced through the huge number of applicants. In 2017-18, a total of 13.41 lakh candidates registered for IBPS Clerk exam. In 2018-19, 10.82 lakh candidates registered for the same. In 2017-18, a total of 11.27 lakh candidates registered for IBPS PO exam. In 2018-19, a total of 8.39 lakh candidates registered for the same exam.
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