While thousands of people worldwide have been handed over pink slips as a part and parcel of the global slowdown, Indian public sector banks still have jobs many.

Indian public sector banks like State Bank of India, Union Bank of India, Syndicate Bank, Central Bank, Andhra Bank, Corporation Bank, Punjab National Bank and Nabard. It was reported that Union Bank are planning to hire more than 4000 officers and 1000 clerks this year. State Bank of India has bigger plans. By year end it plans to recruit 20,000 clerical staffs and around 5000 officers.

Although recession has hit many other sectors, manpower is still a necessity in the public banking sector. The requirements of extending credit to primary sectors, and expansion plans of many banks into the rural market make this an essential move. According to industry estimates around 40, 000 people was already hired in the current fiscal year as opposed to 15,000 last year.

Ironically, job seekers who earlier sought private and foreign banks for its lucrative salary packages, now has been writing tests to get through the public sector banks. Job security seems to the priority of the hour.