Public sector Bank stop recruitment from B-Schools
Mitali Panda, Published On:19-May-2013
The Central Bank of India is going to file a appeal petition against a recent Bombay High Court order which restricted campus recruitment for the appointments of officers by the bank, said M V Tanksale, chairman and managing director of the Central Bank of India. There are other Public sector bank who have been affected same by the high court order , are likely to join the appeal.
Tanksale added the bank is picking up management graduates from campuses for specialised jobs under autonomy granted by the government.
According to the top executive with a large public sector bank, while the high court verdict may be applicable a specific bank, it is going to have implications for other public sector banks as well. He added the issue will be taken up with the Indian Banks’ Association.
Management institutes are the most preferred destination to recruit talent for special posts in banks. With good talent available aplenty, banks prefer campus hiring. Students from the finance, marketing and strategy backgrounds are in demand.
“Being listed entities, there is expectation to work with private sector efficiency. Public sector entities tend to get the residual talent from management campuses. So, for us, it is quite challenge to do a balancing act,” said another public sector bank official.
While the court decision has been bank-specific, other banks have also followed the judgement. Shubhalakshmi Panse, chairperson and managing director of Allahabad Bank, said, “We were going to campuses till last year. But there has been some court cases because of which we are now not allowed to hire from campuses. That is why we are recruiting through IBPS (Institute of Banking Personnel Selection).” She added till the final judgement comes, her bank will be recruiting through IBPS. The institute not only helps identify talent to be sourced from the market through the recruitment process, but also helps identify employees within organisations with the necessary competencies to cope with various roles and responsibilities.