A recent report by Teamlease Services reveals a 12% rise in demand for personal and vehicle loans, including both two-wheelers and four-wheelers, over the past four months. As India approaches the festive season, the Banking, Financial Services, and Insurance (BFSI) sector is preparing for a significant increase in customer transactions. To meet this surge, financial institutions are concentrating on building a skilled workforce, focusing particularly on customer service and digital banking enhancements.
The festive season, which spans from Ganesh Chaturthi in September through to November, is driving increased job opportunities in areas such as retail lending, microfinance institutions (MFI), and payment services. According to projections, job openings in the retail lending and MFI sectors are expected to grow from 12,000 to 19,000, with MFI services seeing a 25% rise due to their focus on financial inclusion and small-scale lending.
In addition, the payment services sector is set to experience a 41% jump in hiring, while job openings in the credit card segment are forecasted to grow by 32%, fueled by the expansion of digital payment solutions during the festive period. Financial institutions are not only expanding their teams but also prioritizing the upskilling of existing employees to meet increased market demand. Krishnendu Chatterjee, VP and Business Head at Teamlease Services, emphasized the unprecedented growth in the sector, noting the strong demand for skilled employees during this high-pressure festive season. The BFSI sector is well-equipped to handle the increased activity, thanks to a workforce that is being prepared through focused training and an emphasis on digital innovation.
