The bank is on a recruitment campaign and has already recruited 52 MBAs from reputed institutes across India on a contract basis in Q2 this fiscal. "Their salary structures are almost at par with the remuneration packages enjoyed by their contemporaries working in the private sector banks," said Arun Kaul, Executive Director, Central Bank of India. The bank will recruit 1,000 clerks, 800 middle level managers and 700 probationary officers in the current fiscal.
"It would be a continuous process every year as a part of our new HR strategy to induct young workforce in the bank. We will thus be able to do a proper succession planning in the bank as envisaged by the senior management," said Kaul.
The recruitments are being done to reduce the average age of its current workforce. "The current average age of 36,000 staffers of our bank is 53-55 years. Our endeavor is to reduce it down to 40 years. This is the first massive recruitment drive undertaken by our bank in the last 22 years. The bank also carried out its last major recruitment exercises in 1984 and 1987," said Kaul.
The bank is also expected to spend Rs. 175-250 crore to renovate all its branches across the country. "In the next six months, we are going to refurbish at least 100 branches of our bank at an investment of Rs. 5-7 crore," said Pradeep Ramnath, Executive Director, Central Bank of India.
Source:
http://www.siliconindia.com/shownews/Central_Bank_to_recruit_2500-nid-61834-cid-
