Lower down the chain of hierarchy, banks are more willing to fill positions with people from MNC banks and there is also a rise in demand in skill sets within remittances and cash management as well as a need for product specialists, he said.

This increase in hiring will result in 15-25 percent hike in increments, Dumoulin said, adding that banks are still maintaining some decorum to maintain consistency and avoid disparity across levels.

GlobalHunt MD Sunil Goel said that the banking sector is likely to witness 15-20 percent growth in hiring this year as a large pool of jobs is expected to be created.

The two new banking licences, that were given by RBI to infrastructure financing firm IDFC and micro-finance firm Bandhan Financial Services, are also expected to create job opportunities across the board in the banking space, he said.

The maximum number of jobs will include the bottom of the pyramid, but existing banking and financial professionals will get recruited by the new players, Goel added.

Due to the surge in the demand, the sector will grow 30-40 percent and this will be good news for fresh graduates to fill the gap of resources for the sector, he said.

"Most of the companies will expand their portfolio in the sector to retain the talent and compensation and increment rate can go anywhere between 10-15 percent for top performers," he added.

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