Backed by technology, banks beat economic slowdown by hiring more

Some are using artificial intelligence to identify the right candidate. Federal Bank, for instance

Though economic growth has slowed, banks have not reduced hiring. Backed by technology they are expanding the branch network — and adding more to the workforce.

Rajkamal Vempati, head of human resources (HR) at Axis Bank, told Business Standard: “We have hired six times more of employees this financial year (FY) as compared to last year. Going forward, we are expanding our branch network; therefore, we will need more people at different levels, with specific skill sets. We are investing in workforce backed with technology.”

Some are using artificial intelligence (AI) to identify the right candidate. Federal Bank, for instance. 

Ajith Kumar K