India’s largest public sector bank, the State Bank of India has launched a RuPay Platinum debit card in association with National Payment Corporation of India (NPCI). The special feature of the card is that it is accepted at all payment channels- ATMs, PoS and eCommerce. This feature has been added for the convenience of the customers. The card would be initially issued free to customers maintaining a quarterly balance of Rs 50,000.
The card offers various benefits like,
- 5 per cent cash back on utility bills
- Complimentary airport lounge access
- Personal accident death
- Permanent total disability insurance cover of Rs 2 lakh
Currently, SBI has 19.7 crore debit cards in circulation and of which 4.5 crore are RuPay cards. In March 2015, SBI saw a 37 per cent rise in its debit card transaction at Rs 30,785 crore from Rs 22,407 crore last year.
Tidbits
- State Bank of India is the third largest issuer of cards with close to 30 lakh active user of its credit card after HDFC Bank and ICICI Bank.
- Arundhathi Bhattacharya is the Chairperson of the Bank.
- SBI has assets more than US$388 billion and 17,000 branches, including 190 foreign offices.
- Official Slogan – Banker to every Indian; Pure Banking Nothing Else; A Bank of the Common Man.etc.
GK Questions
- The headquarters of State Bank of India is in _____.? Mumbai, Maharashtra.
- RuPay card was launched by ______? National payments Corporation of India.
- The headquarters of NPCI is located in ______? Mumbai, Maharashtra.
