Darling supports Tesco’s move to create 800 jobs

The supermarket chain Tesco said it will generate around 800 jobs in Glasgow by opening a new customer service centre for its Tesco Personal Finance division.

British govt. has been encouraging banks to boost lending in order to revive the economy.

Last summer, Tesco had purchased Royal Bank of Scotland's shares worth £950 million. Now, Tesco has plans to set up bank branches in its thirty stores.

Tesco's recent move has been supported by Chancellor Alistair Darling.

Alistair Darling said, "Over the last year the financial services industry has taken quite a battering ... It is therefore very welcome that Tesco is announcing 800 new jobs."

The Scottish Government has granted £5 million to help the establishment of the service centre.

At present, Tesco Personal Finance provides loans, saving accounts, credit cards and insurance to approximately 6 million people.

In the recent trading, Tesco's shares closed at 364.9p, up 1.6 per cent.