In the year 2022, the Indian government-owned saw a reduction of 2,044 branches and about 13,000 employees, according to a major bank employees union.
In 2022, the number of private branches went up by 4,023 to 34,342 branches compared to 2021, according to the AIBEA of the All India Bank Employees' Association.
Private had a staff strength of 534,022 at the end of FY 21, while the number was 357,346 in FY 22, with the staff numbers of several banks not available on their websites, it added.
The AIBEA said that it had 88,265 branches at the end of FY 21 and the number fell to 86,221 in FY 22.
The number of government-owned bank branches in FY 20 was 90,520, according to a report.
The staff strength of government banks decreased in FY 21 to 807,048 and fell to 794,040 in FY 22, it said. The mergers of government banks in 2020 and the rationalisation of branch and staff retirements resulted in a reduction in the number of branches and staff.
The public sector banks, until FY 21, had had tough times due to mounting non-performing assets NPAs, of which the major share was that of the corporate sector, General Secretary C.H. Venkatachalam said something.
He said that the worst part is over with the government banks booking impressive accounting and social profits.
Nearly all banks have come out of RBI's restrictions on account of Prompt Corrective Actions. He said that the impressive performance was amidst uncertainties on account of mergers and privatisation.
The AIBEA said that the 21 government banks had a total business deposits of about 181.402 trillion in FY 22, up from Rs 166.087 trillion in FY 21.
In FY 22, the 21 private sector banks did a total business of Rs 95.70 trillion, up from Rs 83.62 trillion in FY 21.
Private banks in FY 22 logged Rs 946.96 billion in net profits against Rs 692.19 billion in FY 21.