Kisan Credit Card: Good news customers! This Bank is launching Kisan Credit Card under Frictionless Credit. It will be completely digital, customers will not have to submit any separate document.
Axis Bank Kisan Credit Card: Axis Bank, one of the largest private banks in the country, has recently announced the launch of a special Kisan Credit Card. The bank has launched two lending products in association with Reserve Bank of India Innovation Hub (RBIH), a subsidiary of Reserve Bank of India. RBI had recently announced the launch of its own loan platform – Public Tech Platform for Frictionless Credit (PTPFC).
Axis Bank Kisan Credit Card
Axis Bank is launching Kisan Credit Card under Frictionless Credit. It will be completely digital, customers will not have to submit any separate document. Right now this card will be launched as a pilot project, and under this, customers will get a credit of 1.6 lakhs. Seeing its success, it will be started again in other states.
Axis Bank MSME Loans
Along with Kisan Credit Card, the bank has launched an unsecured MSME loan product for small businesses. This too will be completely digitally processed. It has been launched across the country and under this, customers will get loans up to Rs 10 lakh.
How will these products be different?
The bank has launched these products under RBI’s PTPFC, which will enable it to access customer information in a more secure manner. Through this, he will get the facility of PAN Validation, Aadhaar eKYC, Account Aggregator data and verification of land documents and penny drop service for validating bank account. The bank hopes that it will be able to provide faster and better credit service to its customers. After this the bank can launch more new products on this platform.
