Eight public sector banks collectively added 13,223 employees in FY26, bringing their combined workforce to over 6.28 lakh as of March 31, 2026. According to data compiled by PTI from banks' annual reports, the total employee strength increased from 6,14,980 in FY25 to 6,28,203 in FY26. The eight banks included in this analysis are State Bank of India, 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 - have not yet released their annual reports.
State Bank of India led the workforce expansion among the tracked lenders, adding 8,905 employees during the year. The country's largest lender's employee strength rose to 2,45,131 in FY26 from 2,36,226 in FY25. SBI's contribution was significant, accounting for nearly 67% of the total workforce addition among the eight tracked banks, highlighting the scale at which the lender continues to expand its operations. This hiring surge comes despite rapid digitalization and automation in banking operations, indicating that public sector lenders continue to rely on a larger workforce to support expansion, customer servicing and technology-led transformation.
Bank of Baroda added 1,685 employees, taking its workforce to 76,693 from 75,008 a year ago. Bank of Maharashtra reported an increase of 1,005 employees, with its employee strength rising to 15,596 in FY26 from 14,591 in FY25. Canara Bank added 567 employees during the year, taking its workforce to 81,827. Punjab National Bank increased its 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.
The addition of employees comes as public sector banks report improved financial performance, stronger balance sheets and higher business growth, prompting lenders to strengthen manpower across functions, including technology, risk management, operations and branch banking. As reported by PTI, this expansion occurs despite digitalization, indicating a continued reliance on human resources for growth and customer service. The hiring surge reflects the banks' strategic focus on strengthening their operational capabilities to support their enhanced financial performance and business growth trajectory.
