11 Payments Banks To Open Up 1,500 Jobs With Up To Rs 1.50 Crore Salaries

More than 1,500 jobs with salaries going up to Rs 1.50 crore will be up for grabs in the 11 payments banks that are set to start operations over the next year-and-a-half, headhunters and HR experts estimate.

These entities will have to start operations within 18 months of getting inprinciple approval from the Reserve Bank of India. They will be allowed to do limited banking services - for instance, they can accept deposits, offer payments and remittance services, issue debit cards and act as agents for commercial banks, but can't lend. The central bank issued the permits in August.

Five of the licence holders - Cholamandalam, Department of Posts, National Securities Depository, Tech Mahindra and Dilip Shanghvi of Sun Pharma - are yet to hire the chief executives for the payments backs.

As per estimates by Vito India, a domestic executive search firm specialising in financial services hiring, around 150 senior executives will be hired among these 11 entities. They are also expected to recruit about 370 mid-level executives and more than a 1,000 junior-level staff in the next coming months.

Source;-Economic Times