RBI's Employee Data: Shifts in Banking Workforce Dynamics

The RBI data shows a decline in private sector bank employees for FY25, while government banks saw a slight increase. The overall rise in banking workforce was mainly due to small finance banks, which added nearly 16,000 employees. ICICI Bank faced a significant drop in its employee numbers.

According to the latest data from the Reserve Bank of India (RBI), private sector banks experienced a drop in total employee numbers in fiscal year 2025, whereas their government-owned counterparts witnessed a modest rise.

This overall increase in banking personnel was largely driven by small finance banks, noted for their substantial hiring.

ICICI Bank, India's second-largest private lender, notably reduced its workforce, creating a prominent contrast with public sector banks like SBI, which reported an increase in its employee base.