India Today - - COVER STORY | JOBS -

TO­TAL DE­POSITS Rs 98 lakh crore (March 31, 2016) CON­TRI­BU­TION TO GDP 7.7% NO. OF JOBS 1.5 mil­lion CHAL­LENGES

The jobs sit­u­a­tion in pub­lic sec­tor bank­ing is pos­i­tive. State-owned banks are still re­cruit­ing, as the sec­tor is creat­ing new av­enues. In our case, even af­ter the merger of some as­so­ciate banks with SBI, there have been no lay­offs.

Or­gan­ised in­dus­try is not creat­ing as many jobs as it was ear­lier, so it has be­come im­per­a­tive to look at new av­enues of job cre­ation.

In the past, the re­sults of the in­fra­struc­ture and con­struc­tion sec­tors have been marred by time and cost over­runs.


One seg­ment that can boost eco­nomic ac­tiv­ity and job cre­ation in a ma­jor way is con­struc­tion. For this, we need to have well-con­ceived pro­jects, where ap­provals for land and link­ages are al­ready in place. We need to en­sure that such pro­jects are vi­able. Banks are still ready to fi­nance vi­able pro­jects.

Ex­tend­ing help to small en­trepreneurs is also crit­i­cal. SBI is hold­ing camps for its Mu­dra loans, which are tar­geted at small en­trepreneurs. It is also work­ing with fi­nan­cial ex­perts who can hand­hold promis­ing en­trepreneurs through their pro­jects. This will cre­ate new jobs in the en­tre­pre­neur­ial space.

In the bank­ing sec­tor it­self, there is a ris­ing de­mand for busi­ness cor­re­spon­dents. SBI has trained 250,000 peo­ple in the last fis­cal year, with a place­ment rate of 49 per cent. SBI is also plan­ning to tie up with the CII to aug­ment its rural train­ing cen­tres in back­ward dis­tricts across the coun­try.

Arund­hati Bhat­tacharya Chair­man, SBI

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