This is Why SBI is Favored More

Good Morning Readers,

SBI being one of the Pioneer Organisation among all banking institution, has sent a proposal to the Government. The proposal is to distribute it's share of profit among all the employees. This is no rumour as an article published in Economic Times confirmed this speculation.

State Bank of India is seeking the government's permission to dole out up to 3 per cent of its annual profits to staff in incentives in an attempt to draw top talent that normally make a beeline for private sector behemoths such as ICICI Bank and HDFC Bank. The state-run giant also plans to give stock options to employees above the rank of assistant/deputy general manager, hoping that it will help retain talent and improve performance, two people familiar with the matter said. If the proposals are approved by the Centre, it could lead to more than 2 lakh SBI employees sharing about Rs 390 crore of its profits and set the stage for other staterun lenders to follow suit, which will end decades-old collective bargaining by trade unions. The details of how the incentive schemes would work are yet to be finalised. The profit number is based on 2014-15 earnings. The proposals are in line with the government's initiative to induct private talent in state-run banks, which have accumulated huge bad loans due to poor credit analysis and a slowdown in the economy. The government has already split the position of chairman and chief executive, and is in the process of hiring private talent to head Punjab National Bank and other lenders. 

SBI plans to hire 2,000 probationary officers this fiscal while 500-1,000 people will be taken on as contractual staff. It will also recruit 5,000 assistants. "With digital banking being the focus, candidates should have sparks for Internet banking," said SBI's Mehra. This kind of statements from higher authority can spark a ray of hope among all the banking aspirants who have been dedicating their time for such type of government jobs. At the end of the day, they need something like this to get motivated and work more and more towards achieving it.

This idea is sparked by SBI and very soon, other banks will also follow this. So those who have not been able to clear preliminary should not get demotivated. Once this decision gets final, then every bank is expected to approach the government for the same. And this type of decision will also draw a huge amount of talent towards banking sector.

All of you who have decided to enter the banking sector should give themselves a tap on the back. There might be many candidates who have been preparing for 1 year, 2 years or even more. They should know what this sector is all about and what will it require. Where they are lagging behind and which area they should work on. Many students also left their job and started preparing for the exam. So you should remember your sacrifices while preparing, may it be in terms of time, or anything that you have left just to get this job, because this can turn your life into heaven. Its just one time hard work and lifetime happiness.

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