PUBLIC SECTOR BANKS IN INDIA ON RAPID HIRING SPREE: A COMPASSIONATE ANALYSIS WITH SPECIAL REFERENCE TO IDBI BANK

Banking sector in India has been experiencing the phase of ruthless competition since the new economic reforms initiated in the economy. Owing to aggressive strategies adopted by the private sector banks, the concern for the activation of the dictum’ perform or perish’ in the industry, which might induce the Public Sector Banks (PSBs) in India to land into a highly perishable zone, has obligated them to come forward with a well equipped mode for providing a burly fight to their private counter parts. As a move in this regard, they are now in a rapid hiring spree. Although this strategy has primarily been designed for their own endurance, successful execution of the same would certainly benefit the economy as a whole in the form of higher income propagation, superior mobilization of funds and greater rate of employment generation. This paper is intended to analyze the urge and efficacy of the rapid hiring mode of the public sector banks, specifically IDBI Bank, in India.