Chidambaram wants more banks in rural areas

New Delhi, July 1 : Finance Minister P. Chidambaram said here today that he wants banks to open more branches in rural areas of the country.

Chidambaram was speaking to Bank Managers through Video conferencing on the occasion of online inauguration of 101 State Bank of India (SBI) Branches in New Delhi.

He said that even the poor and disadvantaged sections of the society as well as the slum dwellers should have access to the formal banking system.

"The banks should take initiatives for opening of accounts by the villagers and residents of semi-urban areas in the urban branches," Chidambaram said.

The Minister also wanted banks to advance educational loans liberally.

The United Progressive Alliance (UPA) Government has already disbursed twenty thousand crore rupees of educational loans to students under various schemes.

ANI