State Bank of India (SBI) will hire 18,000 people in FY26, including 1,600 system officers to boost its tech wing — marking its biggest recruitment drive in nearly a decade.
State Bank of India (SBI) is set to launch its largest hiring drive in a decade with plans to recruit 18,000 people in FY26, including 1,600 system officers to strengthen its tech capabilities. As per media reports, SBI chairman CS Setty stated that the hiring is part of the bank’s tech-driven transformation. He said, “Our total recruitment across categories is about 18,000 people, out of which around 13,500 to 14,000 will be clerical recruitment, 3,000 will be probationary officers and local-based officers.”
Setty informed that although the bank doesn’t reveal numbers related to tech spending, it has never held back on investments in digital capabilities. “This also shows our commitment to ensure that our technology spends are not a constraint for pursuing our objective of a tech-driven path,” he added.
Earlier on Sunday, Setty informed that despite the challenge of declining rate cycle, return on assets (RoA) of over 1 per cent during the current financial year would be ensured. RoA is a profitability ratio that shows how much profit a company would generate from its assets.
While speaking to analysts after announcing SBI’s quarterly results, Chairman CS Setty said, “We will ensure that the readjustment of interest rates on the deposits are aligned broadly with repo rate cuts so that margins are protected.”
During the year, he noted that additional repo rate cuts could exert pressure on the bank’s net interest margin. However, he expressed confidence that deposit rates would be realigned accordingly, emphasizing that without such adjustments, effective monetary transmission would not occur. “We still will be able to maintain 1 per cent RoA guidance for the current financial year… our goal is to consistently achieve an RoE of over 15 per cent through the business cycles,” he added.
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