Money & Banking

HDFC Bank launches Shaurya KGC Card for armed forces

Our Bureau Mumbai | Updated on August 14, 2020

Private sector HDFC Bank on Friday launched a ‘Shaurya KGC Card’ for the armed forces.

“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,” HDFC Bank said in a statement, adding that the loan facility can be availed at its branches or through its e-Kisan Dhan app.

Based on Kisan Credit Card guidelines, the Shaurya KGC Card offers a life cover of ₹10 lakh as against ₹2 lakh for an average card, and also has simple and easy documentation that does not require the personnel’s physical presence to accommodate nature of his job and availability.

Aditya Puri, Managing Director, HDFC Bank said it is aimed largely towards armed forces personnel from semi-urban and rural communities.

“With this, we have an equally good product for armed forces brethren as we have for farmers,” he further said.

The activity is part of the bank’s Har Gaon Hamara initiative to provide banking facilities to customers in the rural and under-served areas of the country.

The bank has already disbursed over five lakh agri loans and has set up 12 Krishi Dhan Vikas Kendras across India, which has enabled farmers to avail facilities like soil testing and access the latest information on best farming practices.

Published on August 14, 2020

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