25.1 mn no-frills accounts opened in last 2 yrs

No-frills accounts are typically zero-balance accounts aimed at the backward classes of the society but there are restrictions on how much money can be kept in such accounts and how many times funds can be withdrawn.

The study, titled, “National Study on Speeding Financial Inclusion," collated primary research based on the organization’s grassroots experiences from several project sites and field visits and views from all stakeholders, the foundation said in a statement on Wednesday.

The study analyzed 28 financial inclusion pilot projects..

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