Financial Daily from THE HINDU group of publications
Friday, Dec 16, 2005
Financial Daily from THE HINDU group of publications Friday, Dec 16, 2005 |
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Money & Banking
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Private Banks Agri-Biz & Commodities - Credit Cards & Debit Cards HDFC Bank launches credit card for farmers Our Bureau
Mumbai , Dec 15 HDFC Bank jointly with Visa launched Kisan Card, a credit card for farmers. In the first phase, the card will be available in Punjab and Haryana and will be launched across the country by March 2006, said a press release from the bank. The card can be used at any HDFC Bank ATM across the country. Kisan cardholders will be issued chequebooks with payable at par facility through which they can access their account at any HDFC Bank branch. Other facilities include free personal accident insurance cover of Rs 2 lakh and free investment advisory. The daily withdrawal limit through the card is Rs 15,000 at ATMs and Rs 25,000 for usage at merchant outlets. According to the press release the card is aimed at meeting the production and investment needs of farmers such as purchase of agriculture-related equipment or implements, construction of farm-related buildings, investment in allied activities such as dairy, piggery and bee-keeping.
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