India needs 4-5 'SBI size' banks to meet growing needs of economy: FM Nirmala Sitharaman
Meanwhile, Sitharaman asked all to desist calling the National Asset Reconstruction Company (NARCL) as a 'bad bank' as similar institutions are called in other countries like the US. She also said that the banks' books are much cleaner now and this will help the government as the recapitalisation requirements go down.
HDFC Bank to double rural reach to 2 lakh villages in two yearsHDFC Bank plans to hire 2,500 people in the next 6 months. At present, the private lender offers its products and services to micro and medium enterprises in over 550 districts. Its rural banking services extend to 1 lakh Indian villages, which it aims to double to 2 lakh.
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