PSU Banks Eye IIT Talent, Not Allowed in Campus Recruitments!

State Bank of India (SBI) Chairperson Arundhati Bhattacharya has appealed that the public sector banks should be allowed to recruit the top talent from the Indian Institutes of Technology (IITs) as well as the Indian Institutes of Management (IIMs).

At present, the Supreme Court does not allow state-run institutions (including public sector banks) to participate in IIT campus recruitments. Each vacancy in these institutions has to be advertised publicly so that everyone can participate in their recruitment process.

However, Arundhati emphasizes that this barrier does not give public sector banks a level playing field. It is absurd that the government institutions are not allowed to benefit from the top talent of the IITs and IIMs, which are funded by tax payers’ money. Biggest companies from all over the world come to IITs to recruit its talent but the SC order forbids PSU banks to participate in IIT recruitment process.

SBI Chief feels that the public sector banks could already have many achievements to their name. If they could have the best talent in hand, they can perform even better.

Arundhati Bhattacharya has recently been named #36 in the Forbes list of Most Powerful Women in the World. On #35 was Her Highness Queen Elizabeth of England.

More than 30 PSUs will use GATE 2015 scores to recruit candidates at certain positions. GATE (Graduate Aptitude Test in Engineering) is conducted by IITs to screen engineers for admission to their postgraduate engineering programs such as their ME and M.Tech programmes.

Last year, the Bandhan (a microfinance institution which was gearing up to become a bank) recruitments had grabbed media attention as 15-20% of 27,000 applications it had received for 15 posts were from IIT and IIM grads.