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24 February, 2017 05:25 IST

Source: | 24-Feb-17
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Bank of Baroda, one of the leading public sector lenders, 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.

RuPay Platinum Debit Card will provide attractive offers and value added facilities to cardholders including Rs 2 lakh 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 "Debit Card Number" 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 bank's 3 RRBs. This is a quick transfer facility with a turnaround time of 18 seconds.

Speaking on the launch, Ranjan Dhawan, MD & CEO, Bank of Baroda, (Q,N,C,F)* said, "Digital product innovation and digitization of processes are keys to deliver convenient service to customers and to improve operational efficiency." 

"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 A P Hota, MD & CEO, NPCI.

Shares of the bank declined Rs 5.4, or 3.35%, to trade at Rs 155.85. The total volume of shares traded was 203,252 at the BSE (12.02 p.m., Monday).

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