SBI Hiring: State Bank of India To Recruit 12,000 Staff, Add 250 Branches in FY27
SBI plans to hire 11,000-12,000 staff and add 200-250 branches in FY27, a moderated pace after FY26's tech-led recruitment surge of 25,633 employees. The lender and SBI Capital Markets will jointly divest up to 1% stake in NSE's INR 30,000 crore IPO, with no plans to monetize other subsidiary stakes for now.
State Bank of India (SBI), the country's largest public sector lender, has announced plans to recruit approximately 12,000 personnel and expand its branch network by adding 200 to 250 new branches during the current financial year (FY27). SBI Chairman C. S. Setty told PTI that the hiring drive will target 11,000 to 12,000 positions across clerical and officer cadres, a moderated pace compared to the technology-driven recruitment surge seen in FY26. The bank and its investment banking subsidiary, SBI Capital Markets Ltd, have also confirmed plans to jointly divest up to a 1% stake in the National Stock Exchange (NSE) as part of the exchange's upcoming initial public offering (IPO).
Hiring Pace Moderates After FY26 Tech-Led Surge
Setty said this year's recruitment numbers reflect a more tempered approach after SBI onboarded 25,633 personnel in FY26, comprising 4,640 officers, 19,340 associates, and 1,653 contractual staff. SBI Hiring in India: Chairman CS Setty Confirms Recruiting of 16,000 Employees Every Fiscal and Plans To Open 200 to 300 New Branches in FY26.
That intake had included a dedicated hiring push of 1,500 specialist IT officers, a requirement Setty said 'does not need replication at the same scale this year.'
Final induction numbers for FY27 will depend on upcoming staff retirements and operational needs. As of March 2026, SBI's workforce stood at over 245,000 employees, keeping it among India's largest formal sector employers.
Branch Expansion To Target Underserved Areas
On physical infrastructure, Setty noted that despite SBI's extensive nationwide network, several emerging commercial hubs and newly developed residential localities remain underserved by banking infrastructure. SBI Massive Hiring Plan: State Bank of India Chairman CS Setty Announces Recruitment of 18,000 Personnel in FY26, Largest Recruitment in Decade.
To bridge these gaps, SBI plans net branch additions of roughly 200 to 250 locations annually, balancing new openings against the rationalization and consolidation of underperforming branches.
SBI To Dilute Stake In NSE IPO
SBI confirmed it will divest part of its equity holding in the NSE as part of the exchange's proposed IPO worth INR 30,000 crore.
Under the proposed structure, SBI will dilute a 0.65% stake, while SBI Capital Markets Ltd will divest a separate 0.35% stake, taking the group's combined offering to about 1%, subject to adjustments based on overall selling shareholder participation.
SBI currently holds 3.23% directly in the NSE, while SBI Capital Markets holds an additional 4.33%.
No Immediate Plans For Other Subsidiary Stake Sales
Setty clarified that SBI has no immediate plans to monetize stakes in any other subsidiaries following the recent public listing of SBI Mutual Fund, where SBI and partner Amundi together divested approximately 10% through an INR 11,675 crore issue.
(The above story first appeared on LatestLY on Sep 06, 2026 05:00 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
