(THE NEWSMAN OF INDIA.COM)
In an address to the Rajya Sabha, Finance Minister Nirmala Sitharaman outlined the government’s achievements in job creation within India’s public sector banks (PSBs), emphasizing that the banking sector has played a pivotal role in strengthening the economy and providing employment opportunities. According to Sitharaman’s statement, PSBs have collectively generated a staggering 3.94 lakh (394,000) jobs across various levels and cadres, demonstrating the government’s focus on boosting employment and supporting the banking infrastructure.

Among the PSBs, the State Bank of India (SBI) stands out as the largest contributor, with approximately 94,000 jobs created in recent years. Sitharaman highlighted that SBI’s expansive network and diverse offerings have enabled the bank to significantly contribute to job creation, supporting both rural and urban employment opportunities.

Bank of Baroda, another major player in the Indian banking landscape, has created around 41,000 jobs, furthering the government’s goal of improving employment prospects across the country. Similarly, Bank of India has generated 36,000 positions, while Bank of Maharashtra has added 7,000 jobs to the sector, contributing to regional development.

Canara Bank has made a significant impact with the creation of 54,000 new jobs, reinforcing its role in financial inclusion and economic growth. Central Bank of India, known for its outreach and extensive services, has created 15,000 job opportunities for citizens, while Indian Bank has provided employment to 21,000 individuals. Indian Overseas Bank has added 7,000 jobs, helping bolster the public banking sector’s growth.

Punjab National Bank (PNB), one of the largest PSBs, has also played an instrumental role in job creation by generating 55,000 positions. Other notable contributions include Punjab & Sindh Bank, which created 8,000 jobs, and UCO Bank, which has added 13,000 positions. Union Bank of India has contributed the highest among these banks, with 38,000 jobs created.

The Finance Minister’s statement underscores the government’s commitment to expanding job opportunities within the public sector, especially in the banking domain. Sitharaman also mentioned that the job creation figures reflect a robust strategy to enhance the country’s financial infrastructure while supporting employment growth.

The government’s efforts, as laid out in the Finance Minister’s address, are aligned with the broader objectives of economic inclusivity and social welfare, ensuring that more people across the country have access to gainful employment in the banking sector.

In conclusion, with 3.94 lakh jobs created across various public sector banks, the government is reinforcing its focus on strengthening India’s banking sector while simultaneously providing critical employment opportunities to citizens.