India's top 10 private banks reduced their combined workforce by 10,114 employees in FY26, following a decline of 9,637 in the previous year, as digitization and AI boost productivity. The cuts were led by ICICI Bank, HDFC Bank, Axis Bank, and Kotak Mahindra Bank, while some midsize lenders added staff.
Top 10 private banks cut over 10,000 jobs in FY26
Source: Economic Times