Are you thinking to apply for bank jobs in 2021 and waiting to appear for IBPS bank exams 2021? Then it is necessary for you to know which govt banks will conduct jobs recruitment in the upcoming future, after the banks mega merger.
Especially after hearing about the job losses and salary cuts in private companies, due to covid19 pandemic, many youngsters are shifting their focus on govt jobs (sarkari naukri) and public sector bank jobs.
But do you know that the number of public sector banks have reduced compared to last year, after the recent merger?
Mega Bank Merger of India
The Indian government in August 2019 announced that 10 public sector banks will be merged to form 4 bigger and stronger banks.
Prior to this, 5 associate banks of SBI and Bharatiya Mahila Bank were merged with State Bank of India.Also, Dena Bank and Vijaya Bank were merged with Bank of Baroda.
“We want to create next-generation banks, with enhanced capacity to increase credit, strong national presence and global reach”
said finance minister Nirmala Sitharaman.
The 10 banks merger came into effect on April 1, 2020, bringing the total number of public sector banks in India to 12.It was 18 in 2019 & 27 in the year 2017. Here is how the govt banks are ranked, now:
1) Punjab National Bank (PNB) is the 2nd largest public sector bank in the country after absorbing Oriental Bank of Commerce (OBC) and United Bank of India will be merged into.
2) Canara Bank is the 4th largest public sector bank after Syndicate Bank merged with it.
3) Union Bank of India is the 5th largest govt bank after absorbing Andhra Bank and Corporation Bank into its fold.
4) Indian Bank is the 7th largest public bank after Allahabad Bank got merged.
How many public sector banks are in India?
After the merger in 2020, there are 12 govt owned/ public banks in India – 6 merged and 6 independent banks.
6 merged banks – State Bank of India, Bank of Baroda, Punjab National Bank, Canara Bank, Union Bank of India, Indian Bank
6 independent banks – Indian Overseas Bank, Uco Bank, Bank of Maharashtra, Punjab and Sind Bank, Bank of India, Central Bank of India.
Which banks will not recruit?
IBPS (Institute of banking personnel selection) conducts recruitments for PO, clerk and specialist officer jobs in public sector banks. Last year, a total of 17,500 vacancies were filled across 17 banks.
With only 12 banks in operation after the merger, the following banks doesn’t exist anymore and will not be part of IBPS bank recruitments in future:
- Oriental Bank of Commerce (OBC)
- United Bank of India
- Corporation Bank
- Syndicate Bank
- Andhra Bank
The IBPS bank exams calendar 2021 is already released. Once the official notifications for PO, clerk and SO jobs are also announced, the new changes can be seen.
The banks that will continue job recruitments in 2021 and beyond are:
- State Bank of India
- Bank of Baroda
- Punjab National Bank
- Central Bank of India
- Union Bank of India
- Indian Overseas Bank
- Bank of Maharashtra
- Punjab and Sind Bank
- Indian Bank
- Canara Bank
- Bank of India
- UCO Bank
Will the number of jobs advertised by the above banks increase in the coming years or not, is something we have to wait and watch.
