Dena Bank launches no frills banking

Mumbai, Nov 17 | Updated: Nov 18 2005, 05:30am hrs
Dena Bank is the first bank to kick off no frills banking by launching a new deposit account, which can be opened with an initial minimum balance of Rs 10.

This comes two days after the Reserve Bank of India (RBI) issued a notification to scheduled commercial banks (SCBs), asking them to open no-frills bank accounts.