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India's Push to Offer Banking for All Tumbles on Empty Accounts

More than half of a record 160 million accounts opened in India as part of a drive to offer banking to all are still empty, illustrating the massive task ahead for one of the government's most high-profile campaigns and the strain on banks. Prime Minister Narendra Modi launched a scheme last August to end "financial untouchability," an ambitious project to enable tens of millions to have access to a bank. The scheme offers free insurance and even an overdraft...

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