Small finance banks are fueling job growth in India's banking sector
India's banking industry added 21,000 new jobs in 2024-25, with most of the action coming from small finance banks (SFBs).
SFBs hired around 16,000 people—making them the real job creators this year—even as private banks trimmed their teams.
Who's hiring and who's not?
Private banks actually cut over 7,200 jobs overall, with ICICI Bank alone letting go of more than 10,000 employees.
Meanwhile, public sector banks quietly added about 1,600 roles.
The big winner? AU Small Finance Bank now leads all SFBs with nearly 51,000 employees after merging with Fincare.
With more SFBs eyeing upgrades to full-fledged banks soon, expect even more hiring on the horizon.
Why should you care?
If you're thinking about a career in banking—or just curious where the opportunities are growing—SFBs are clearly where things are heating up right now.