Indian government aims to open 7.5 crore bank accounts by August 15, 2018

Thursday, July 31, 2014

NEW DELHI: The NDA government has drafted a new financial inclusion plan that aims to open 7.5 crore bank accounts in rural and urban areas and extend financial services to all citizens by August 15, 2018.

An official familiar with the deliberations told ET that the 600,000-odd villages in the country will be split into smaller service areas and assigned to banks, which in turn will provide at least one fixed banking point for every 1,000-1,500 households.

Source: Economic Times India (link opens in a new window)

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banking, Base of the Pyramid, financial inclusion, financial services, rural development