LIC, SBI, PNB to go for major hiring

Tuesday 16, December, 2008 MUMBAI: Undeterred by the economic downturn and lower sales volume, state-owned banks and India's largest Insurer, Life Insurance Corportaion (LIC) have initiated steps for recruitment of around 45,000 people this financial year. "LIC plans to strengthen its workforce by hiring 10,000 people by March, LIC's MD, A K Dasgupta said. "Slowdown will not pose any hurdles for LIC to strengthen our team as the corporation is on an ambitious expansion mode. Nearly 10,000 professionals will be recruited by the end of this fiscal," Dasgupta said. The insurance major, which has a 78% market share in terms of total premium , has already kicked off the recruitment process. "The corporation plans to induct around 5,000 professionals in its marketing, while the remaining will be placed in its administrative divisions ," Dasgupta said. Similarly , SBI has started head-hunt to support its fast expanding network by planning to hire about 20,000 clerical staff and around 5,000 supervisory staff by the fiscal-end , the bank said. Other major public sector banks, which have huge hiring plans include Union Bank of India, Bank of Baroda, Indian Overseas Bank and Bank of India and Punjab National Bank (PNB). PNB will hire 2,000 persons with "specific skills" in the next four months, its CMD K C Chakrabarty said. "We will be recruiting about 2,000 people in current fiscal... I need specific type of skills. I require people for the credit, treasury, corporate communication and marketing," he said. He said the bank will be recruiting more people next year to cater to the growing business and also to make up for the people who would be retiring . "It (recruitment) will be more... may be my reduction of staff will be more than 2,000 next year," he said, adding, "my number will not go up but still I will be hiring the people. Many people will be leaving me. I have to replace them." PNB announced plan to hire 377 managers and officers to support its expansion plans. The bank has invited applications for post of chief security officer, assistant general manager (treasury), chief manager (treasury) and other officers and managers.

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