Each new banking licence, which will soon be issued by Reserve Bank of India, could create around 1,500 to 5,000 jobs in the next one-two years, according to estimates by head hunters including Korn/Ferry International, Egon Zehnder, Heidrick & Struggles, EMA Partners, Russell Reynolds Associates and Randstad India.
Micro lender Bandhan Financial Services and Infrastructure Development Finance Company IDFC) have been granted banking licences.
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The number of jobs will be more in retail banking, operations, branch banking, technology, credit, risk and treasury segments. And as Reserve Bank of India eyes growth in smaller cities, many jobs would come up in those cities.
Egon Zehnder consultant, Sanjiv Sachar, was quoted by The Economic Times as saying that those who have worked in Tier 2, Tier 3 cities or the rural areas would be sought after, given the emphasis on financial inclusion.
Heidrick & Struggles New Delhi financial services practise and partner-in-charge, Puneet Pratap Singh, said the initial focus will be on leadership hiring across consumer banking, corporate banking, transaction banking, global markets and support functions.
"About 10-15% of the new talent will be hired from other industries, including consumer, telecom, IT and professional services," Singh added.
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By GlobalDataRandstad India staffing president, Aditya Narayan Mishra, said the new licences will also give rise to a lot of backend jobs, including those in processing, outsourcing to third parties and the like.
