The banking industry will need to hire 9-11 lakh employees

The banking industry will need to hire 9-11 lakh employees over the next five years, according to a report by Boston Consulting Group.

The banking sector is expected to grow at approximately 20 per cent over the next decade and will need major induction of talent, a significant part of which is to replace vacancies arising due to retirements in public sector banks. At the current rate of attrition, the industry will need to hire over four lakh more people.