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Finance

8000 new bank branches with 50,000 vacancies will come up



Finance Minister P Chidambaram on Wednesday said India's state-run banks aim to open more than 8,000 bank branches in the current financial year ending in March 2014.

"You focus on the top defaulters, as well as keep an eye on the top performing accounts... They are keeping a close watch on the top 30 non-performing accounts in each bank and action will be taken on the defaulters," Chidambaram said.
 
Chidambaram was talking to reporters after meeting the heads of public sector banks and financial institutions in New Delhi.

He said it is the 30 top non-performing accounts which account for the bulk of the NPAs.

Non-performing assets of banks have been on the rise for past several months due to the slowdown in the economy. 

Read more what Chidambaramsays about new bank branches

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