 "State-owned banks are hiring apprentices to enhance customer relations, amid declining staff numbers, focusing on rural service improvement.")
Several public sector banks in India are launching apprenticeship programs to enhance customer service, particularly in semi-urban and rural areas. Union Bank of India, Canara Bank, and Indian Overseas Bank are recruiting a combined total of over 4,000 apprentices, offering stipends up to Rs 15,000. These apprentices will focus on improving customer relations, understanding client needs, and addressing issues to boost satisfaction. The initiative aligns with the government’s Apprentice Act, aiming to help banks cope with workforce reductions and improve service delivery. Although there’s no guarantee of permanent positions after the program, the experience gained will be valuable for future careers in the financial sector.
Public sector banks in India are launching apprenticeship programs to boost customer service, particularly in semi-urban and rural areas, amid a gradual decrease in their workforce. Recently, Union Bank of India, Canara Bank, and Indian Overseas Bank announced plans to recruit 500, 3,000, and 550 graduates, respectively, for a year-long apprenticeship. These positions come with a stipend of up to Rs 15,000 and mark the first time these banks are integrating apprentices into their operations.
Bank of India also received approval to recruit 1,300 apprentices in phases, focusing primarily on customer relations. K Satyanarayana Raju, MD & CEO of Canara Bank, stated that the goal is to enhance customer interaction and satisfaction, especially for meeting the needs of senior citizens and addressing grievances.
Under the government’s Apprentices Act, banks are encouraged to engage apprentices, which is essential for filling gaps where employee shortages exist. Although there is no guarantee of permanent employment after the program, the hands-on experience gained can help apprentices find opportunities in the financial sector in the future.
The training will cover critical bank functions, complying with Reserve Bank of India regulations, and will help address operational pressures on current employees. As public sector banks continue to see a decline in employee numbers—with a cumulative reduction of over 96,000 workers since 2014—the introduction of apprenticeship programs is seen as a proactive step to strengthen their service capabilities.
For more details on this new initiative and its implications for the banking sector, visit our full report.
Tags: Apprenticeship, Public Sector Banks, India, Customer Service, Employment Opportunities, Financial Sector, Canara Bank, Union Bank of India, Recruitment News.
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What is the apprenticeship spree in state-owned banks?
The apprenticeship spree is a program where state-owned banks are hiring apprentices to improve customer service. It allows young people to gain work experience and learn about banking. -
Who can apply for these apprenticeships?
Young individuals, usually between 18 and 30 years old, who are looking to start a career in banking can apply for these apprenticeship positions. -
What will apprentices do in the banks?
Apprentices will assist with customer service tasks, learn about banking operations, and support staff in various departments to improve their skills and knowledge. -
How long does an apprenticeship last?
The duration of an apprenticeship can vary but usually lasts from six months to a year, depending on the specific program and bank. - Will apprentices get paid?
Yes, apprentices will receive a stipend or allowance to help support them during their training period while they gain valuable experience in the banking sector.
