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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.

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