SBI to recruit 12,000 employees, open 250 branches in FY27
What's the story
The State Bank of India (SBI) plans to recruit nearly 12,000 new employees and open around 250 branches this fiscal year. The announcement was made by C S Setty, the bank's Chairman. He said that the recruitment would include both clerical and officer positions. The actual number may vary based on retirements and future needs but is expected to be around this figure by the end of FY27.
Employee growth
Recruitment drive to continue
SBI, which employed over 2.45 lakh people as of March 2026, is one of the largest employers in India.
In FY26 alone, the bank hired a total of 25,633 employees including 4,640 officers and 19,340 associates, among others.
This year too, Setty expects around 11,000 to 12,000 appointments across both clerical and officer cadres.
Network growth
Branch expansion
Despite its already extensive network, SBI is looking to expand further.
Setty pointed out that there are still areas where the bank's presence can be improved. He said this could be in new colonies or commercially active districts.
The chairman also hinted at rationalizing some branches but expects a net growth of about 200-250 branches annually for the foreseeable future.
IPO participation
Stake dilution on NSE
On the National Stock Exchange (NSE) stake dilution, Setty said SBI and its subsidiary SBI Capital Markets Ltd plan to dilute up to 1% stake through the exchange's proposed ₹30,000 crore initial public offering (IPO).
He clarified that they are participating in this divestment with a proposal to divest 0.65% by SBI and 0.35% by SBI Capital Markets.