Modi promises access to banking for India's poor


  • World
  • Friday, 15 Aug 2014

NEW DELHI (Reuters) - Prime Minister Narendra Modi promised on Friday greater access to financial services for nearly 500 million Indians who do not have a bank account, many of whom are now at the mercy of money lenders who charge extortionate interest.

Even though India has grown to become Asia's third-largest economy, thousands of poor farmers commit suicide every year because they cannot repay loans.

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