UK's Treasury has announced today that the leading banks in the UK will now disclose the amount of lending on local levels by publishing data relating to postcode-wise lending.

The banks will release data that will be divided across 10,000 individual postcodes to determine the level of lending in different areas. Lib Dem peers Baroness Kramer and Lord Sharkey were leading move to make banks reveal the data in the country. The move comes following negotiations between the Government and the seven major lenders. It will allow the government to determine the areas served well by the banking sector in the economy and which areas needs more access to the banking services for wider growth.

The British Bankers Association has released small and medium-sized business borrowing and saving according to 120 postcode areas in the country. The government wants the banks to publish even more details about the lending in the country and the seven major banks will now publish lending data as per the 10,000 individual postcodes in the UK.

The first dataset will include data from seven major lenders - Royal Bank of Scotland, Lloyds Banking Group, HSBC, Barclays, Santander UK, Nationwide and the National Australia Bank brands Yorkshire and Clydesdale Banks. The leading seven banks make up about 80 per cent of the current stock of lending in the UK.