Public sector banks are among the largest government employers in India, yet many job seekers forget they are government companies too. Here is how they fit alongside other PSUs and how recruitment works.
How many public sector banks are there
After the mergers of 2019 and 2020, India has 12 public sector banks, led by State Bank of India and including Punjab National Bank, Bank of Baroda, Canara Bank and Union Bank of India. They sit next to public sector insurers such as LIC, New India Assurance and GIC Re in the wider list of government-owned companies.
Ways in
- IBPS PO and Clerk for 11 of the banks.
- SBI PO and Clerk conducted by SBI itself.
- Specialist Officer posts for IT, law, agriculture, HR and marketing graduates.
- Insurance exams such as LIC AAO and NIACL AO.
Bank job or industrial PSU?
Bank officers follow a pay scale set by bipartite settlements and can be posted anywhere in the country, often in rural branches early on. Industrial PSUs such as NTPC or BHEL pay on the IDA pattern and post engineers near plants and projects. Both offer pension benefits under NPS and job security.
To see how banks compare with Maharatna, Navratna and Miniratna companies, read the PSU list in India on Govtpvt. Bank and insurance openings are also listed under latest government jobs.