We want to open doors of banks to poor: Modi

Prime Minister Narendra Modi on Saturday announced he had asked banks to let the poor open accounts because "we wanted to strengthen financial inclusion".

"The doors of the banks were not open for the poor. We decided this must end. We wanted to strengthen financial inclusion," he said in his Independence Day speech from the Red Fort.

"Bank accounts are essential for integrating the poor into the financial system," he said.

"Bank accounts are essential for integrating the poor into the financial system," he said, adding that 17 crore people had opened accounts under the Jan Dhan Yojna scheme.

"After all who are the banks for, they are for the poor," he added.