UBI announces digitisation of Kisan Credit Card

NT Correspondent

Bengaluru: Union Bank of India (UBI) has announced its industry-first, farmer-focused end-to-end digitalization of Kisan Credit Card (KCC) in Karnataka as part of flagship Digital Transformation project ‘Sambhav’.

After the successful launch of the product in Madhya Pradesh in September 2022, Karnataka is now the second State where the bank has launched the product. The product aims to digitalise the KCC lending process, making it more efficient and farmer friendly.

Digitalisation of Kisan Credit Card is a 'Fintech' initiative of UBI in collaboration with Reserve Bank Innovation Hub (RBIH) under guidance of Reserve Bank of India (RBI). It aimed at overcoming the challenges being faced by farmers like in-person visit to a bank branch, submission of land ownership and other documents, and high turn-around time in getting the KCC, according to the bank.