State Bank of Mysore (SBM) plans to recruit around 700 probationary officers in this fiscal year. According to the statement made by Ms Hamsini Menon, Managing Director, State Bank of Mysore, the bank saw 1,000 clerical staff joining duty during the fourth quarter of last fiscal. She also added “The recruitment were mainly to balance the large number of retirements that the bank would see during the 2012-13 fiscal”.
About 400-500 SBM employees are due to retire this year. In addition, the bank would recruit 700 probationary officers and 500-600 additional clerical staff this fiscal. State Bank of Mysore is on a branch network expansion mode as well. “We plan to take the number of branches to 1,000 in the next two years,” said Ms Menon. The bank currently has about 740 branches.
The branch and manpower expansion would help the bank achieve a business turnover of Rs 1-lakh crore by this fiscal-end, she added. The bank’s capital adequacy ratio is about 12.55 per cent, and is sufficiently capitalised for the next couple of years, said Ms Menon.