Thursday, June 30, 2022

Slide
Home Digital Transformation KCC digital renewal scheme launched by Indian Bank

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

Do FollowCIO News LinkedIn Account | CIO News Facebook | CIO News Youtube | CIO News Twitter

About us:

CIO News, a proprietary of Mercadeo, produces award-winning content and resources for IT leaders across any industry through print articles and recorded video interviews on topics in the technology sector such as Digital Transformation, Artificial Intelligence (AI), Machine Learning (ML), Cloud, Robotics, Cyber-security, Data, Analytics, SOC, SASE, among other technology topics

khushbu Soni CIO News Mercadeo
Khushbu Sonihttps://www.cionews.co.in
Chief Editor - CIO News | Founder & CEO - Mercadeo

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -1x1 banner1x1 banner1x1 banner1x1 banner

Most Popular

GBM conducts artificial intelligence event, UAE organisations to increase spending

The artificial intelligence event delved into how organisations can get started on their AI journeys For an exclusive artificial intelligence event, GBM has brought together...

Clean technology: LG to invest $1.5bn

The push in the clean technology sector will help LG make "a shift toward more high-value industries" LG Corp, South Korea's fourth-largest conglomerate, said on...

AI technology firm Nala Robotics to supply Slice Factory with its autonomous chef

Under the terms of the agreement, to help fuel national expansion efforts the AI technology company will custom design and install Pizzaiola at Slice Factory's...

There shouldn’t be a separation between business and technology, says Deepak Garg, Co-Founder and Chief Technology Officer (CTO) at Dista

The real value a technologist can bring is alignment of technology with actual business needs When asked how he planned his career path to be...

Recent Comments