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Bank accounts for all Indian households, Modi government pledges

  • Narendra Modi, India’s prime minister, is launching a scheme that aims to provide bank accounts to all households, reports said.

    An estimated 40% Indians lack access to financial and banking services and many are exploited by unscrupulous money-lenders.

    The Modi government has urged banks, both state and private, to help make the plan a success.

    Experts say that though the scheme is ambitious, implementing it could be a challenge as many poor Indians lack the required identification papers to open an account.

     

     

    Tagged as: Narendra Modi, India, prime minister, bank accounts, households, financial, banking services, business news