Shaurya KGC Card: HDFC Bank launches ‘Shaurya KGC Card’ for armed forces: Key points – Times of India

NEW DELHI: HDFC Bank on Friday launched ‘Shaurya KGC (Kisan Gold Credit) Card’, a loan product for the armed forces. A first-of-its-kind product for over 45 lakh Indian armed forces personnel, it is based on the Kisan Credit Card guidelines by the government, the lender said in a statement.
The credit card comes with some key benefits such as simple and easy documentation that doesn’t require physical presence.
The new product was launched digitally from Mumbai by HDFC Bank managing director Aditya Puri along with Rajinder Babbar, business head, Rural Banking Group, on the eve of India’s 74th Independence Day.
Speaking at the launch, Puri said, “It’s an absolute honour to launch this product for the armed forces and their families. With this (Shaurya KGC Card), we have an equally good product for armed forces brethren as we have for farmers. This is our Independence Day gift to our protectors.”
Here are the key points:
* The credit card comes with a life cover of Rs 10 lakh as against Rs 2 lakh for an average card.
* It will provide finance for agricultural requirements like production of crop, post-harvest maintenance and consumption needs. It can also be used to purchase farm machinery, irrigation equipment or construct storage structures.
* 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; applying the loan through HDFC Bank e-Kisan Dhan app; and by using toll free number (1800 120 9655).
* The tri-colour themed card is for Army, Navy, Air Force and para military forces.

(A demo card can be seen. Source: HDFC Bank)
* This is a part of the bank’s ‘Har Gaon Hamara’ initiative.
* The lender further stated that it has already disbursed over five lakh agri-loans and has set up 12 Krishi Dhan Vikas Kendras across India.