NewsVoir | 05 Jun, 2015
Adding to its bouquet of customer centric initiatives, Bank of Baroda in association with National Payments Corporation of India (NPCI) has launched three new products RuPay Platinum Debit Card, Card to Card Fund Transfer and IMPS for RRBs. The program was graced by Shri Ranjan Dhawan, Managing Director & Chief Executive Officer, Bank of Baroda, Shri B B Joshi, Executive Director, Bank of Baroda, Shri K V Ramamoorthy, Executive Director, Bank of Baroda and Shri A. P. Hota, Managing Director and Chief Executive Officer, NPCI.
RuPay Platinum Debit Card will provide attractive offers and value added facilities to cardholders including Rs 2 lacs Insurance Cover, 5% cash back on bill payments, fuel surcharge waiver upto Rs.75 per month, cash back of Rs 25/- on train ticket booking, complimentary airport lounge access and concierge services, apart from activation offers at Cafe Coffee Day and The Mobile Store.
Card to Card Fund Transfer is an Instant Fund Transfer facility using âDebit Card Numberâ of the beneficiary without requiring account number / IFSC. It is a simple, secured and convenient method to transfer funds 24 x 7.
IMPS for RRBs (Inward remittance) facility is enabled for 1826 branches of bankâs 3 RRBs. This is a quick transfer facility with a turnaround time of 18 seconds.
Speaking on the launch, Sh. Ranjan Dhawan, MD & CEO, Bank of Baroda, said, âDigital product innovation and digitization of processes are keys to deliver convenient service to customers and to improve operational efficiency.â
"We feel proud to partner with Bank of Baroda, and are extremely delighted that the bank has launched the premium 'RuPay Platinum Debit card' for the eligible customers. With huge customer base of BoB in the country, RuPay Platinum card will certainly create a difference in the premium card market segment and will extend the gains to customers through unique offers that are widely acceptable at all payment channels - ATM, PoS and eCommerce," says Sh. A P Hota, MD & CEO, NPCI.
National Payments Corporation of India (NPCI), which has been set up in 2009 as the central infrastructure for various retail payment systems in India, was envisaged by the Reserve Bank of India as the payment utility for all banks in the country. During the last five years, the organization has grown multi-fold from 2 million transactions a day to 15 million transactions now. From a single service of switching of inter-bank ATM transactions, the range of services have grown to Cheque Clearing, Immediate Payments Service money transfer (24x7), Automated Clearing House, Electronic Benefit Transfer and a domestic card payment network named âRuPayâ to provide an alternative to international card schemes.