Mumbai, April 9 -- India's top private sector banks expect the trend of slowing attrition from FY24 to spill over to the just-concluded fiscal (FY25), which could also mean slower hiring in the current financial year as fewer fresh positions open up for new talent.

This comes on the back of a subdued entry-level job market, a pivot towards internal talent development by private banks, and some lenders' preference for contractual workers against hiring for permanent positions. These factors are expected to continue slimming attrition numbers in the new fiscal year as well.

"Attrition numbers are definitely going to be lower in the previous fiscal (FY25)," said a banker at a large private sector bank on condition of anonymity, adding that...