Employee strength of banks in pvt space almost equals PSBs': RBI data

The number of employees in the private-sector banking space has almost equalled that of state-run ones, the latest data released by the Reserve Bank of India (RBI) showed.

In 2021-22, the employee strength of public-sector banks stood at 770,812 while units operating in the private sector, including private-sector banks, small finance banks, and payments banks, employed 769,890.

Further, while the employee strength of private-sector banks stood at 646,446 in 2021-22, small finance banks employed 116,393, and payments banks’ employees totalled 7,051.

The headcount in small finance banks was 14,179 in 2016-17, when they arrived on the scene.

Overall, the banking