Industry Odisha Bureau, Sep 06: State Bank of India plans to recruit around 12,000 personnel this year. Hiring will span both clerical and officer cadres. SBI also plans to add roughly 250 branches. The bank employs over 2.45 lakh people currently. SBI is simultaneously preparing to dilute part of its NSE stake.
Chairman C S Setty said recruitment could total 11,000 to 12,000 appointments. The final figure depends on retirements and emerging staffing needs. He expects the year to close near 12,000 recruitments. This spans both clerical staff and officer-level positions.
Last year’s hiring was higher due to specialist IT recruitment. SBI brought in 1,500 specialist IT officers during 2025-26. This year, similar large-scale IT hiring is not required. Overall, SBI hired 25,633 personnel in 2025-26, per its annual report.
That included 4,640 officers and 19,340 associates last year. Another 1,653 contractual staff were also brought onboard. With over 2.45 lakh employees, SBI remains among India’s largest employers. Reduced IT hiring needs explain this year’s comparatively lower target.
On branches, Setty noted white space remains despite SBI’s large network. New residential colonies and active commercial districts offer expansion room. SBI plans around 250 new branches during the year. The bank is simultaneously examining rationalisation of existing branches.
Net branch growth is expected near 200 to 250 annually. This reflects both fresh openings and selective closures. Branch expansion and rationalisation are proceeding together, Setty indicated.
SBI is also addressing capital markets moves involving the NSE. SBI and SBI Capital Markets plan to dilute stake via IPO. Together, they propose divesting up to 1 per cent. SBI plans to sell 0.65 per cent of its holding. SBI Capital Markets plans to divest 0.35 per cent separately.
SBI currently holds 3.23 per cent in the NSE. SBI Capital Markets separately owns 4.33 per cent in NSE. NSE recently received regulatory approval for its IPO. The offering is valued at approximately ₹30,000 crore.
This could become India’s largest-ever initial public offering. It would surpass Hyundai Motor India’s ₹27,858.75-crore 2024 listing. LIC’s ₹20,557.23-crore offering and Paytm’s ₹18,300-crore IPO would also be exceeded. Tata Capital and Coal India’s earlier listings would also be surpassed.
Setty clarified no other subsidiary monetisation is planned currently. Separately, SBI Mutual Fund saw stake dilution in July. SBI and Amundi together diluted around 10 per cent. That transaction raised ₹11,675 crore, subscribed 41.66 times.
Following that listing, SBI’s holding fell to 55.56 per cent. Amundi’s stake declined to 32.63 per cent afterward. Together, these moves show SBI expanding operations while monetising select holdings.
