Public sector banks continued to expand their workforce in FY26, with eight state-owned lenders together adding 13,223 employees during the year, taking their combined employee strength to more than 6.28 lakh, according to a PTI analysis of annual report data.
The total workforce of the eight public sector banks stood at 6,28,203 as of March 31, 2026, compared with 6,14,980 in FY25, reflecting a net addition of 13,223 employees.
The analysis covers State Bank of India (SBI), Bank of Baroda, Canara Bank, Punjab National Bank, Bank of India, Indian Bank, UCO Bank and Bank of Maharashtra. Four other public sector lenders — Punjab and Sind Bank, Union Bank of India, Central Bank of India and Indian Overseas Bank — are yet to release their annual reports.
SBI accounted for the bulk of the hiring during the year, adding 8,905 employees. The country’s largest lender increased its workforce to 2,45,131 in FY26 from 2,36,226 in FY25.
The rise in employee numbers comes despite rapid digitalisation and automation across banking operations, indicating that public sector lenders continue to depend on a large workforce to support business expansion, customer service and technology-led transformation.
The hiring push also coincides with improved financial performance, stronger balance sheets and higher business growth at public sector banks, prompting lenders to strengthen teams across technology, risk management, operations and branch banking functions.
SBI alone contributed nearly 67 per cent of the total workforce addition among the eight lenders tracked by PTI, underscoring the scale of its expansion.
Among other banks, Bank of Baroda added 1,685 employees, taking its workforce to 76,693 from 75,008 a year earlier. Bank of Maharashtra increased its employee strength by 1,005 to 15,596 in FY26 from 14,591 in FY25.
Canara Bank added 567 employees, taking its total workforce to 81,827, while Punjab National Bank increased employee strength by 527 to 96,738.
Bank of India’s workforce rose by 446 employees to 51,010, while Indian Bank added 153 employees to reach 40,224.