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Indian Bank Unveils KCC Digital Renewal Scheme

Indian Bank Unveils KCC Digital Renewal Scheme for renewing Kisan Credit Cards.

Indian Bank Unveils KCC Digital Renewal Scheme
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Chennai, Jun 14 (PTI) Public sector Indian Bank has unveiled KCC Digital Renewal Scheme  enabling customers to renew their Kisan Credit Card accounts through the digital platform, the city-based bank said on Tuesday.

Under the project WAVE - World of Advanced Virtual Experience initiative, Indian Bank Managing Director and CEO, S L Jain launched the scheme which eliminates the need to visit a branch or submit added physical documents.

The scheme would be beneficial to customers who are not able to renew their Kisan Credit Card accounts due to paucity of time during the harvest season, the bank said in a statement here.

The bank aims to serve 15.84 lakh customers of Kisan Credit Card constituting Rs 22,300 crore of the total agriculture portfolio which is pegged at Rs 88,100 crore. The scheme is offered to customers who have outstanding loans of Rs 1.60 lakh and currently about eight lakh customers (of the 15.84 lakh) have outstanding loans below Rs 1.60 lakh, it said.

"The bank expects the digital initiative to come in handy for these customers, at present and intends to enhance to cover more number of KCC account holders", the statement added. 

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