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HDFC Bank
HDFC Bank|Representational image
CAREER

HDFC Bank to recruit 5,000 freshers through tie-ups in 3 years

Pvt sector lender shifts hiring focus, launches ‘future bankers programme’ along with Manipal Global Academy of BFSI to train, groom candidates for bank jobs

Team EastMojo

Team EastMojo

Guwahati: With the burgeoning of technology and digitisation in banking sector, private sector lender HDFC Bank has initiated a gradual shift in its fresher intakes. The bank is now aiming at exclusive tie-ups with training institutes through which it would train and teach graduates for a year and, thereafter, hire them in the bank.

The bank recently announced a tie-up with Manipal Global Academy of BFSI through which it aims at hiring around 5,000 trainees over a period of three years. These trainees would be hired after they finish a year-long training at the institute. The new inductees would be required to pay a course fee of Rs 3.3 lakh plus applicable taxes and will draw Rs 4 lakh as their first annual salary, the bank said in a statement on Wednesday.

“Digitisation is changing the skill requirements for banking as a whole, and for personal banking we require candidates who are willing and ready to interact with the customers. Over the next few years, the freshers inducted to the bank will be hired through such tie-up method,” a bank spokesperson was quoted as saying by a media report. Currently, the bank has tie-ups through which candidates undergo shorter courses of 2-3 months. The new training initiative is a PG diploma course with intensive processes, the spokesperson added.

Before being admitted to the diploma course, the candidate will have to sit for an interview by the bank and the diploma will be split between six months of classroom training and six months at the bank as an intern. In the present scenario, the bank depends on internal training after the hiring of new personnel. Once these freshers are trained, they are placed into operations.

Hiring freshers involves a significantly high 68% of the bank’s gross hiring at present. The bank has added almost 10,000 people on a net basis in financial year 2019, thus taking its overall base to more than 98,000.