Date:13/09/2006 URL: http://www.thehindu.com/2006/09/13/stories/2006091301141911.htm

Business - Briefly

Syndicate Bank adds million new accounts in 2 months

BANGALORE: Syndicate Bank has added 1.1 million new accounts in two months as part of a campaign to reach the underprivileged sections of the society through the introduction of a no-frills, zero-balance account called `Syndsamanya'. Most of these accounts are of persons who were not able to take the benefit of banking institutions so far. "The idea behind opening accounts with a zero balance is that these persons may deposit their savings even as small as Rs. 5 in the bank and thus develop the habit of savings", a statement from Syndicate Bank said here.