Premier Narendra Modi has put a pledge to give bank accounts to all Indians on a war footing, but experts say taking banking to rural areas where many people have no identity papers will be a huge challenge.
India's Prime Minister Narendra Modi delivers a speech to mark Independence Day in New Delhi, August 15, 2014
In developed nations, bank branches are everywhere. But banking services in India leave out nearly half the 1.2 billion population, putting poor people at the mercy of moneylenders who charge usurious interest for emergency loans for sickness or routine purchases such as buying seeds.
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.