Public sector banks see headcount falling nearly 10% from FY21 to FY25

On the other hand, only four of them added employees during this period. While the third largest public sector lender Punjab National Bank has seen a marginal increase from 1,01,802 to 1,02,746 during this period, the mid-sized Bank of Maharashtra added 2,059 more to its payrolls from 12,532 to 14,591.

Similarly, the fourth-largest Central Bank of India too saw a marginal rise in the headcount from 32,340 in FY21 to 33,081 as of March 2025 and so did another mid-sized lender Punjab & Sind Bank from 8,890 to 10,229 during this period.

The second-largest state-run lender Bank of Baroda saw its employee strength decline from 51,459 in FY21 to 50,564 in FY25, while the fourth-largest Canara Bank saw its headcount decline from 88,231 to 81,260, and Bank of India too had a steep decline — from 42,601 to 39,778.

Uco Bank also saw the numbers falling from 22,021 to 21,049, while Union Bank of India’s employee count fell from 78,203 to 73,945, and Chennai-based India Bank saw the numbers declining from 41,629 to 40,942 during this period.