India urges millions of poor to open bank accounts

India's state-owned banks are conducting a massive campaign to open millions of accounts for poor Indians who are off the financial grid and vulnerable to black market money lenders.  Prime Minister Narendra Modi officially launched the program on Thursday, saying it would give the poor ``renewed strength to fight poverty.''  ``When a bank account is opened, it's a step towards joining the economic mainstream,'' said Modi, who swept to power in May after an election campaign that promised an end to corruption, a revival in economic growth and a fairer society.  The program may eventually help sideline extortionate money lenders or unscrupulous banks, some of which are blamed for driving tens of thousands of impoverished farmers to suicide each year over debts amounting to just a few thousand dollars. Tens of thousands of people have applied to open accounts since Aug. 15, when Modi announced the campaign in his Independence Day speech to the nation, bank managers said.   Modi had urged banks in a recent letter to ``try your best to ensure that no one is left without a bank account.'' The goal is to sign up 150 million people by 2018.  About half of India's some 1.2 billion people lack bank accounts. (Sour ce: AP)