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India PM launches bank account for all

28 August 2014 Last updated at 18:19 BST

Indian Prime Minister Narendra Modi has launched a plan to provide a bank account for every household, in a landmark initiative to help the poor.

Nearly 40% of Indians have little access to financial services and are often at the mercy of moneylenders who charge extortionate interest.

Sanjoy Majumder reports.

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