Key facts
- Eight public sector banks collectively added 13,223 employees in FY26.
- The total workforce of these eight banks reached 6,28,203 by the end of March 31, 2026.
- State Bank of India (SBI) led the hiring, adding 8,905 employees.
- SBI's workforce increased to 2,45,131 in FY26 from 2,36,226 in FY25.
- Bank of Baroda added 1,685 employees, reaching a total of 76,693.
Eight of India's public sector banks collectively added 13,223 employees in fiscal year 2026, bringing their total workforce to over 6.28 lakh. State Bank of India (SBI) was the largest contributor to this hiring spree, adding 8,905 employees.
Analysis of data compiled by PTI from banks' annual reports shows that the total employee strength of the eight public sector banks stood at 6,28,203 at the end of March 31, 2026, compared with 6,14,980 in FY25, marking an increase of 13,223 employees.
SBI led the workforce expansion among the tracked lenders, adding 8,905 employees during the year. The country's largest lender's employee strength rose to 2,45,131 in FY26 from 2,36,226 in FY25.
SBI's contribution to the increase was significant, accounting for nearly 67 per cent of the total workforce addition among the eight tracked banks. Bank of Baroda added 1,685 employees, taking its workforce to 76,693 from 75,008 a year ago. Bank of Maharashtra reported an increase of 1,005 employees, with its employee strength rising to 15,596 in FY26 from 14,591 in FY25. Canara Bank added 567 employees during the year, taking its workforce to 81,827, while Punjab National Bank increased its employee strength by 527 to 96,738. Bank of India's workforce rose by 446 employees to 51,010, while Indian Bank added 153 employees to reach 40,224.
The eight banks include SBI, Bank of Baroda, Canara Bank, Punjab National Bank, Bank of India, Indian Bank, UCO Bank, and Bank of Maharashtra. Four other public sector lenders - Punjab and Sind Bank, Union Bank of India, Central Bank of India and Indian Overseas Bank - have not yet released their annual reports.
The increase in employees' numbers in the eight banks comes despite rapid digitalization and automation in banking operations, indicating that public sector lenders continue to rely on a larger workforce to support expansion, customer servicing and technology-led transformation. The addition of employees comes as public sector banks report improved financial performance, stronger balance sheets and higher business growth, prompting lenders to strengthen manpower across functions, including technology, risk management, operations and branch banking.