DHAKA: The tenure of India’s Modi government will end on 2018. Meanwhile, his government has moved for a landmark initiative to open bank accounts for 75 million households across the country.

The Indian PM, Narendra Modi, inaugurated the ambitious Jan Dhan Yojana on Thursday. He sought help from state-owned and private banks in implementing his plan.

These accounts can be opened without any papers and documents. Authorities concerned said it would be challenge to bring those people under the plan those do not have their national identity.

Modi's government aims to provide bank accounts to 75 million households by 2018, and to have two account-holders per household, reports BBC.

Approximately 40 percent of Indian people have the least opportunity to involve in economic activities, and most of them depend on the mercy of the money lenders.

On August 15, Modi said in his first Independence Day speech, “Lakhs of families are there in the country, they have mobile phone but do not have bank accounts, we want to change this scenario.”

BDST: 1002 HRS, AUG 29, 2014