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Abstract
Banks plays a key role in financial deepening and in making No-Frill Accounts work. The recent plan of the government is providing it for everyone, No-Frill Account will incentivize the banks to improvise the market and steer the benefits of the products and services. Having an account does not make an individual financially included, but having transactions in no-frill accounts truly empowers each individual. A common message via mass-awareness programs and campaigns need to express an essentials of saving through a banking sectors and to make people to convert from in-kind savings to in-cash savings. In recent years, the Banking Sector in India has seen a number of changes. Most of the banks had begun to take an innovative approach towards banking with the objective of creating more values for customers and banks. Through the various regional branches of banks, the business correspondent and other agent-based models have been able to open 50 million no-frill accounts across the world.