I just read in ET "State-owned banks on hiring spree, to hire 30,000 in FY'10 even as India Inc, facing the heat of the global financial meltdown, has put a virtual halt on recruitment."
Why has this huge employment come in ?
Expansion/ Increment of branches is one of the reason. This expansion of branches is the reason to increase the lending activity.
What can we term by this expansion activity?
Increase in branches will indirectly increase the lending activity of the bank. But can also increase the inflow as more people would tend to invest.
Increase in lending activity means growth and diversification in other sectors/business.
Indirectly upliftment of Indian Economy.