Union Bank of India launches end-to-end digitalization of Kisan Credit Card | Daily Current Affairs Dose

Union Bank of India launches end-to-end digitalization of Kisan Credit Card | Daily Current Affairs Dose

Dear Aspirants, EducationBro is here with a Daily Current Affairs Dose. In this session, we will make the candidates aware of the daily current affairs topics, which will improve their general awareness, while also taking care that the candidates should not have any shortage of trending current affairs related to any country and abroad. Today’s Current Affairs topic is Union Bank of India launches end-to-end digitalization of Kisan Credit Card.

Our Daily Current Affairs Dose 2022 will help you to crack the General Awareness section of Banking Insurance SSC Railway UPSC and all government jobs exams.

Union Bank of India launches end-to-end digitalization of Kisan Credit Card | Daily Current Affairs Dose

Digitalization of Kisan Credit Card (KCC): Union Bank of India launched an Industry-first, farmer-focused end-to-end digitalization of Kisan Credit Card (KCC) product as part of flagship Digital Transformation project ‘Sambhav’. 

end-to-end digitalization of Kisan Credit Card: Aims

The end-to-end digitalization of Kisan Credit Card (KCC) product aims to digitise KCC lending process, making it more efficient and farmer friendly.

Read Also: IndusInd Bank reappoints Sumant Kathpalia as MD and CEO | Daily Current Affairs Dose

Union Bank of India digitalization of Kisan Credit Card: Key Highlights

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

Union Bank of India digitalization of Kisan Credit Card (KCC): Benefits

According to the Union Bank of India, the benefits of Kisan Credit Card (KCC) digitization, which begin with the commencement of the farmer-borrower journey directly through the mobile handset, include no need for branch visits, no need for document submission, online farmland verification, and less transaction time, with the disbursement getting completed in a couple of hours.

Important facts for upcoming exams from the above Current Affairs Topic

• Formation of Union Bank of India: 11 November 1919
• Founder of Union Bank of India: Seth Sitaram Poddar
• Headquarters of Union Bank of India: Mumbai, Maharashtra, India
• MD and CEO of Union Bank of India: A Manimekhalai
• Number of employees in Union Bank of India: 75,201 (2022)