Each new banking entity may create up to 5,000 jobs

Anywhere between 1,500 and 5,000 jobs are likely to be created over 1-2 years for each new banking licence awarded by the Reserve Bank of India (RBI), estimates by leading head hunters, including Korn/Ferry International, Egon Zehnder, Heidrick & Struggles, EMA Partners, Russell Reynolds Associates and Randstad India, suggest. The RBI on Wednesday granted bank licences to micro lender Bandhan Financial Services and Infrastructure Development Finance Company (IDFC).

Read the Economic Times news report here.