Study on Implementation of KCC Scheme - page 66

claim. This has now been extended to 90 days to ensure that the benefit
reaches the user and due time is given to the user to understand the process
of using the cards. The insurance covers are (i) Rs. 1 Lakh to the classic
card holders and (ii) Rs. 2 Lakh to the premium RuPay card holders.
c) The cost of transaction for the banks is lowest in the country @ 0.45 paisa
+ service tax as the switching fee. The economic feasibility of the RuPay
card scheme motivates the banks to offer cards to even untapped/under
penetrated consumer segments in the rural areas.
d) RuPay is the only one which issues KCC cards to the farmers
e) Transaction and customer data related to RuPay card transactions will stay
within India unlike in case of Visa/Master cards.
The RuPay scheme is a domestic scheme where the products e.g., Kisan
credit card, PMJDY RuPay Cards etc., can be customized in no time to
reach out to ensure that the benefit goes to all section of society.
II. Support from NABARD to RRBs & Cooperatives for Issuance of RuPay Cards
4.12 NABARD vide circular No 137/SPU-KCC-05/2014 dated 01 August 2014 has
issued a Master Circular for RRBs and cooperatives pertaining to the scheme
on providing technology support through POS/Micro ATM and ICT cards (RuPay
Kisan cards) to enable the RRBs & cooperatives to provide doorstep banking
facilities. This has also an objective to enable the clients of RRBs & cooperatives
to connect to National Payment system and avail all types of financial services.
The Banks have to ensure the certification standards as per specifications of
NPCI, IBA-IDRBT and UIDAI for RuPay Cards and POS/micro ATMs are adhered
4.13 The Support from NABARD to RRBs and Cooperatives is of the following types:
A. Support for ICT Solutions –under Financial Inclusion Technology Fund
(i) Cost of Micro ATM/POS terminals upto Rs. 25,000/- per terminal. The Micro
ATM (POS) devices should adhere to the technical specifications approved
by IBAIDRBT and UIDAI 1.5 Standard.
(ii) Cost of printing and issuing of RuPay Kisan cards upto Rs. 25/- per card
(should be owned by the Bank and confirm to standards specified by NPCI).
The Card can be a non-personalised card, which can be given as a part of
the ‘Welcome Kit’ to the Customer.
(iii) The support to RRBs in these cases is 100% ( i. e Rs. 25,000/- for POS/
Micro ATMs and Rs. 25/- for RuPay Kisan Cards-) in NE regions, Sikkim,
Chhattisgarh, Jammu & Kashmir, Uttarakhand, and Jharkhand, Himachal
Pradesh and Andaman & Nicobar Islands and 80% of Rs. 25,000/- for POS/
Micro ATMs and 80% of Rs.25/ for RuPay Kisan Cards or 80% of the actual
cost whichever is lower in the rest of the country.
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