“Bandhan Bank launches International Debit Card and NRI Banking”

Kolkata, February 09, 2016: Bandhan Bank, one of the two newly set up banks in India, today announced that it will offer VISA International Debit Cards to its valued customers.  The Bank is also starting services for the NRI customers with a bouquet of products.

 

Bandhan Bank’s International Debit Card is being offered in partnership with Visa International. The chip-based card is EMV compliant; it is secured and fully compliant with the latest regulatory directions from the Reserve Bank of India on card-based payments. This card, with enhanced security features, will provide added protection for card-based transactions against counterfeiting and skimming. It will be accepted globally at more than 30 million Visa merchants, either online or in- store, and allow card holders to withdraw cash at  2 million ATMs worldwide.

 

The customers will be offered two variants – Visa Classic and Visa Platinum. These cards are for both domestic and international usage and have features, including insurance, commercial discounts at select merchandise outlets, among others. Bandhan Bank’s customers will now enjoy the benefit from shopping, dining out, filling fuels, paying bills online, withdrawing cash from any bank ATM and unlimited free transactions at Bandhan Bank ATMs.

 

Visa Classic Debit card holders will enjoy daily cash withdrawal limit of Rs. 40,000 while Visa Platinum Debit Cardholders will have Rs. 1, 00,000 daily cash withdrawal. The POS transaction limits for these two card variants will be at Rs. 1, 00,000 and Rs. 4, 00,000, respectively.

 

Responding to the requirements of Non-Resident Indian (NRIs), Bandhan Bank will offer such services at selected branches. The NRIs can open NRE accounts either under Premium or Standard variants.

 

Speaking at the launch of the two premium products and service lines, Mr Chandra Shekhar Ghosh, Founder, MD & CEO, Bandhan Bank, said “Bandhan Bank today enjoys the standing of a truly universal bank in terms of customer reach – from a small farmer of a remote village to the salaried executives in urban centres. Bandhan Bank is now ready to serve the vibrant and affluent Indian diaspora in sync with its core philosophy of ‘Aapka Bhala, Sabki Bhalai’.”

 

Bandhan Bank commenced its operations on August 23, 2015, with 501 branches, 2,022 Door step Service Centres (DSCs) and 50 ATMs across 24 Indian states. The Bank was inaugurated by Mr. Arun Jaitley, Hon’ble Minister of Finance, Corporate Affairs and Information and Broadcasting, Government of India, in Kolkata at a grand function attended by regulators, policy makers and luminaries from the financial sector and corporate India. Bandhan is the first bank to be set up in eastern part of India, post-Independence.

 

Currently, it operates across 27 Indian states through a network of 612 branches and 203 ATMs, catering to over 8 million customers, being served by nearly 20,500 employees. Since its launch, the Bank has collected deposits to the tune of Rs. 7,000 crore.

 

The Kolkata-headquartered Bank has two divisions — micro banking and general banking, offering complete retail financial solutions, including a variety of savings and loan products. Currently, the savings bank account interest rate is 4.25% for balance up to Rs.1 lakh and       5% for balances above Rs.1 lakh. For term deposits, the maximum interest rate offered is 8.5 % for one to three years, with an additional 0.5% for senior citizens.

 

In sync with the philosophy of ‘Aapka Bhala, Sabki Bhalai’ and keeping financial inclusion at the heart of it, Bandhan is committed to provide a host of products and services, competitively on a par with India’s top private and state-owned banks.

 

About the Author

Sachin Murdeshwar
Sachin Murdeshwar is a Sr.Journalist and Columnist in several Mainline Newspapers and Portals.He is an ardent traveller and likes to explore destinations to the core.