The public sector bank, Oriental Bank of Commerce,
has introduced the RuPay Kisan Credit Cards, which are authenticated by
the ‘Aadhaar' number. These cards have two variants - RuPay ATM card
and RuPay Kisan Cards.
The first of its kind credit cards in India, have the Aadhaar number, which is a farmer's unique identification number, printed on both the sides of the card. On the back side of the card, the number is printed on its magnetic strip enabling it to be used on micro ATMs.
This step is speculated to push the financial inclusion plans of the bank. As for the customer (farmer), this kisan card will allow the farmer to not only withdraw funds using an ATM, but will also enable the farmer to use micro ATMs by using biometric authentication.
The new credit cards will be issued to a selected group of customers from its existing customers who are already availing kisan cards from the bank. It is reported that in the kisan cards segment, OBC has a customer base of 4.41 lakh customers. So, it can be assumed that the cards will be issued to atleast 4 lakh present customers of the bank.
RuPay is a domestic card network established by the National Payment Corporation of India. Its debit card network was introduced in the previous year in March.
The first of its kind credit cards in India, have the Aadhaar number, which is a farmer's unique identification number, printed on both the sides of the card. On the back side of the card, the number is printed on its magnetic strip enabling it to be used on micro ATMs.
This step is speculated to push the financial inclusion plans of the bank. As for the customer (farmer), this kisan card will allow the farmer to not only withdraw funds using an ATM, but will also enable the farmer to use micro ATMs by using biometric authentication.
The new credit cards will be issued to a selected group of customers from its existing customers who are already availing kisan cards from the bank. It is reported that in the kisan cards segment, OBC has a customer base of 4.41 lakh customers. So, it can be assumed that the cards will be issued to atleast 4 lakh present customers of the bank.
RuPay is a domestic card network established by the National Payment Corporation of India. Its debit card network was introduced in the previous year in March.
No comments:
Post a Comment