The Government on Tuesday said that an average 25 per cent of the total staff presently working in public sector banks will retire over the next five years. "On an average, about 25 per cent of officers and employees would retire by 2020 in PSBs," Minister of State for Finance Jayant Sinha said in written reply in the Rajya Sabha
PSBs assess and anticipate vacancies including retirements annually and take necessary action to fill the same including intimating their requirement to Institute of Banking Personnel Selection (IBPS) for making allotment well in advance, he said.
The Government has granted managerial autonomy to the PSBs in the matters related to Human Resource including recruitment, he said, adding the government has also advised all PSBs to prepare a succession plan.