Private lender HDFC Bank Ltd. has launched a 1st-of-its-kind product for the armed forces. Titled as “Shaurya KGC Card”, this unique product comes with never-seen-before features and eligibility criteria specially crafted for more 45 lakh Indian armed forces personnel, claimed the bank in its official communique.
The product is based on the guidelines of Kisan Credit Card guidelines
The key benefits of the card are as follows:
- Life cover of Rs 10 lakh as against Rs 2 lakh for an average card
- Simple and easy documentation that doesn’t require the personnel’s physical presence to accommodate nature of his job and his availability
The new product was launched digitally from Mumbai by Aditya Puri, Managing Director, HDFC Bank in the presence of Rajinder Babbar, Business Head, Rural Banking Group, HDFC Bank on the eve of India’s 74th Independence Day.
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Speaking at the launch, Puri said, “It’s an absolute honour to launch this product for the armed forces and their families. Coming from an Air Force family, I have seen from close quarters the sacrifices they make and hardships they go through – the personnel on duty and their families back home. 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. Jai Jawan, Jai Kisan, Jai Hind.”