SBI to Hire 12,000 Employees and Expand Branch Network in 2026-27

State Bank of India (SBI) is gearing up to hire between 11,000 and 12,000 employees in the financial year 2026-27, alongside plans to open around 250 new branches. The bank's Chairman, C.S. Setty, highlighted the recruitment focus on clerical and officer roles, with the total workforce exceeding 245,000. Additionally, SBI is preparing to sell a stake in the upcoming National Stock Exchange (NSE) IPO, which is expected to be the largest in India. This article delves into SBI's ambitious plans for growth and expansion.

By Ambika Singh Sep 7, 2026, 08:54 IST

SBI's Recruitment Plans for 2026-27

State Bank of India (SBI), a prominent public sector bank, is set to recruit between 11,000 and 12,000 new employees in the financial year 2026-27. The bank also plans to establish around 250 new branches across the country. C.S. Setty, the Chairman of SBI, mentioned in a recent discussion that the recruitment will focus on both clerical and officer positions. While the final hiring numbers may vary due to retirements and evolving needs, the bank anticipates reaching close to 12,000 new hires by the fiscal year's conclusion.

In the previous year, SBI conducted extensive recruitment, including the addition of 1,500 specialist IT officers. However, this year does not require a similar influx of IT personnel. As of March 2026, SBI's workforce stood at over 245,000 employees. According to the bank's annual report, a total of 25,633 employees were recruited in the 2025-26 fiscal year, which included 4,640 officers, 19,340 associates, and 1,653 contractual staff.

Setty emphasized that despite having a vast branch network, there is still potential for SBI to grow in various regions. The bank aims to enhance its presence in commercially vibrant districts and newly developed residential areas, with plans to open between 200 and 250 new branches this financial year.

Stake Sale in NSE IPO

**Plans to Sell Stake in NSE IPO**

In relation to the National Stock Exchange (NSE) IPO, Setty revealed that SBI and its subsidiary, SBI Capital Markets, intend to sell a combined stake of approximately 1% in the NSE. This includes a 0.65% stake from NSE and a 0.35% stake from SBI Capital Markets. If other shareholders also participate in the sale, the total stake sold by the SBI group may remain under 1%. Currently, SBI holds a 3.23% stake in NSE, while SBI Capital Markets possesses 4.33%.

The NSE is preparing for an IPO valued at ₹30,000 crore, which recently received approval from the capital market regulator, SEBI. This IPO is anticipated to be the largest in the country to date and has been highly awaited. NSE is recognized as the largest stock exchange in India by market share.