If there’s one occupation that hasn’t lost its sheen among the ‘old economy’ jobs,

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it’s that of a bank clerk.

With chances of an immediate economic revival looking bleak, an advertisement from State Bank of India for 11,000 vacancies has come as manna from heaven for the thousands who have been laid off due recession. Shriram Lele, GM (central recruitment & promotions department), SBI, has received over 14 lakh applications for these vacancies. While candidate profiling hadn’t begun yet, Lele told Financial Chronicle that he was certain that IT employees and their BPO counterparts who were laid off were among those who had applied in response to the bank’s advertisement.

Hyderabad has seen a sudden mushrooming of ‘institutes’ that promise to coach applicants for these openings. “We have seen nearly 40 per cent growth in the past few months. And the large number of laid-off employees from IT and ITeS companies, mostly in their 20s, is the biggest reason for this,” said G S Giridhar, director of Rishi Academy of Competitive Exams.

Lele said applications have been pouring in even for senior positions. “We had 500 positions for management executives and we were looking for people who are armed with MBA and CA. We got over 85,000 applications. Clearly, people are valuing the stability and challenges that a PSU bank job could offer,” he says. Job sites are also benefiting from this trend. “PSU banks are attracting significant attention on our site. It’s a myth that these jobs are considered dull – they’re among the most sought-after,” says Sanjay Modi, MD of Monster India. The surge is not surprising. “Traditionally, a bank job has always been attractive - easy timings, low stress levels at work and opportunities for skill upgradation. Women, in particular, favour bank jobs since it eases work-life balance,” says B S Murthy, CEO of Leadership Capital, an executive hiring firm. “The only hitch is the location of posting.”