The Indian government has set a target of having bank accounts for the population of 1 billion by 2020, including those of all the people on the planet.
In a news release, the Finance Ministry said the scheme will make it easier for banks to serve people on their territory, and also allow them to offer online payments.
Under the scheme, banks will receive up to Rs 2,000 per customer for providing an account to a customer in India.
The government has been pressing banks to provide such accounts since December, when the government launched the National Account Bill 2015 to help the poor, the poor have become the fastest-growing segment of the Indian population.
It said the bank accounts will help people get cash and also reduce the amount of cash being sent to banks, and make it possible to send remittances to friends and relatives.
The bank accounts have to be in the name of a bank in India, and can be opened on their behalf.
India is one of the few countries that do not allow people to open bank accounts.
A bank account in a country is a way of transferring money in and out of a country.