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The Economic Times

Economy / The Economic Times

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Top 10 private banks cut over 10,000 jobs in FY26 as AI reshapes hiring

India's top private banks are reducing their employee numbers significantly. This workforce contraction occurred after substantial hiring in the previous fiscal year. Technology-led efficiencies are enabling banks to expand operations without increasing staff. Some midsize lenders, however, have increased their headcount during this period. Banks are accelerating AI and automation deployment across their operations.

19 Aug 2026 5:30 am