A recent press report said that there are many opportunities for young talented folks would be created in the banks in next 3 to 5 years as many senior managers would be retired. It is estimated that nearly half of the senior managers would be retired in the next 3 to 5 years and this might continue for some more years. This would create new opportunities for new young bank job seekers at the entry level.
According to Mr. M. Narendra, Chairman and Managing Director of Indian Overseas Bank about 50 per cent of officers above AGM level in the banking sector are about to retire in the next 3 to 5 years and this makes the banks to go for strategies to deal with the situation.
He also said that in Indian Overseas Bank only about 21 per cent officers are set to retire. The bank has undertaken talent mapping measures and has also obtained approval for laterally hiring experts in departments such as cash management and so on.
Andhra Bank has formed a special club called “2020 club” exclusively for this purpose where training would be given for the selected employees in some special functions.
Recently banks have asked the RBI to take a break from its monetary tightening cycle which has made home loan and other loans very expensive.