Microsoft Word - 1270 Platinum RuPay Debit Card launch.docx For Immediate Publication / Broadcast / Telecast

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IDBI Bank partners with NPCI to launch 'Rupay Platinum Debit card'

Mumbai, 20 April 2015: IDBI Bank in association with National Payments Corporation of India (NPCI) launched the 'Rupay Platinum Debit card' in the presence of Shri M. S.Raghavan, CMD, IDBI Bank and Shri A. P.Hota, MD and CEO, NPCI.

The 'Rupay Platinum Debit card' enables cost-effective, fast and secure access to large number of ATMs, POS terminals, e-commerce websites and participating merchant establishments across the country. Customers can benefit from various discounts and offers that can be availed on registering for the card.
The card fulfils the vision of RBI of offering a domestic, open-loop, multilateral payment system to all banks and financial institutions in India. It will be instrumental in creating a less-cash economy and furthering the electronic payments system to make India a financial inclusive economy.
All transactions under this card scheme are processed within the country and are in compliance with the regulatory requirement for debit cards and the PIN has been made mandatory for performing any kind of transactions. This ensures a higher level of security to the customers.
Speaking at the launch, Shri M. S.Raghavan, CMD, IDBI Bank said, "We understand the sea change in the banking habits of people and hence, The 'Rupay Platinum Debit card', is another effort towards giving our customers seamless service at par with the modern day banking technology. Our association with NPCI will enable us to bring to the customer value added services with sound benefits and returns".
"We feel proud to associate with the IDBI Bank to launch RuPay Platinum card that comes with contemporary features for the fulfillment & convenience of customers. The launch of RuPay card is a milestone achievement for us to create an impact in the expanding debit card market. We strongly feel customers will be delighted to utilize the card at all payment channels - ATM, PoS and eCommerce," said Shri A. P. Hota, MD

& CEO, NPCI.

Seen in the photograph (from L - R): Shri B. K Batra, DMD, IDBI Bank, Shri M. S. Raghavan, CMD, IDBI Bank, Shri A. P. Hota, MD & CEO, NPCI and Shri M. O. Rego, DMD, IDBI Bank

About the Bank

IDBI Bank is the youngest, new generation public sector universal bank that rides on a cutting edge Core Banking platform with strong service orientation. This enables the Bank to offer personalized banking and financial solutions to its clients. IDBI Bank has one of the largest housing loan portfolios amongst PSBs and offers housing loans at
base rate to its existing and new customers. The Bank offers very competitive rates to the MSME segment wherein it has different schemes for the specific customer segments. IDBI Bank also has a strong focus on agriculture sector and allied activities through its customized products, competitive pricing and personalized services.

About 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 'RuPay' to provide an alternative to international card schemes.

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