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KCC digital renewal scheme launched by Indian Bank

For feature phone users with no internet and users with limited internet access, the digital renewal scheme is also available through SMS

Kisan Credit Card (KCC) digital renewal scheme has been launched by Indian Bank on Monday. The digital renewal scheme facilitates eligible customers to renew their accounts by themselves through digital modes. The need to visit a branch or submit additional physical documents is eliminated by the digital renewal scheme and it is beneficial for customers who are unable to renew their KCCs due to paucity of time during the harvest season.

A statement here said the account renewals could be done using Indian Bank’s IndOASIS mobile app, internet banking portal and bank’s website. For feature phone users with no internet and users with limited internet access, the digital renewal scheme is also available through SMS. It is currently being offered to customers having outstanding loans below INR 1.6 lakh.

An initiative that is a part of the bank’s digital transformation under project World of Advanced Virtual Experience (WAVE) was flagged off by Indian Bank MD and CEO S L Jain in the presence of select customers, who renewed their KKCs on the spot.

The statement said, KCC constitutes INR 22,300 cr. with over 15.8 lakh customers out of the total agriculture portfolio of INR 88,100 cr. Out of this, nearly eight lakh customers are having outstanding loans below 1.6 lakh. The bank expects this digital initiative to come handy for these customers, at present and intends to enhance this threshold limit in future to cover more number of KCC account holders and benefit them.

Also readHaving an understanding of digital literacy means you’re able to use technology safely

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khushbu Soni CIO News Mercadeo
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