New Delhi: HDFC Bank Ltd on Friday announced the launch “Shaurya KGC Card” for the armed forces that would cater to over 45 lakh Indian armed forces personnel.
The product is based on the Kisan Credit Card guidelines by the government. The key benefits of the Shaurya KGC Card includes – Life cover of Rs 10 lakh as against Rs 2 lakh for an average card; simple and easy documentation that doesn’t require the personnel’s physical presence to accommodate nature of his job and his availability, the bank said in a statement.
The Shaurya KGC Card will provide armed forces personnel with finance for agricultural requirements like production of crop, post-harvest maintenance and consumption needs. They can also avail of this funding to purchase farm machinery, irrigation equipment or construct storage structures etc, HDFC added.
The loan facility has been designed keeping in mind the financial needs of the armed forces and can be availed by visiting HDFC Bank Branches or applying the loan through recently launched HDFC Bank e-Kisan Dhan app. The loan facility can be also availed by dialling an all India Interactive Voice Response (IVR) toll free number (1800 1209655), HDFC Bank said.
The Bank said that it has already disbursed over five lakh agri-loans and has set up 12 Krishi Dhan Vikas Kendras across India.
Shaurya KGC Card was launched digitally from Mumbai by Aditya Puri, Managing Director, HDFC Bank on the eve of India’s 74th Independence Day.
“It’s an absolute honour to launch this product for the armed forces and their families. Coming from an Air Force family, I have seen from close quarters the sacrifices they make and hardships they go through – the personnel on duty and their families back home. I feel like my career is complete now that we’re able to do something for them. With this, we have an equally good product for armed forces brethren as we have for farmers. This is our Independence Day gift to our protectors,” Puri said.