HDFC Bank launches Shaurya KGC Card — a farm loan product for armed forces
They can also avail of this funding to purchase farm machinery, irrigation equipment or construct storage structures among others, said a statement by the bank.
The product is based on the Kisan Credit Card guidelines by the government and would provide a life cover of Rs 10 lakh as against Rs 2 lakh for an average card through simple and easy documentation that doesn't require the personnel's physical presence to accommodate nature of his job and his availability.
Speaking at the launch,
"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," he said.
This 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, said the statement.
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