The Hindu Business Line : StanChart, Rotary launch `community growth' card

IN a product designed to promote assistance to community development in India, Standard Chartered Bank and the MasterCard Credit Card have joined hands with the Rotary International to launch a co-branded gold credit card.

Announcing this here on Friday at a press conference, Mr Srinivasan Shyam, General Manager & Head, Credit Cards and Personal Loans, Standard Chartered Bank, and Mr Raghu Malhotra, Vice-President (Member Relations & Marketing), South Asia, MasterCard International, said the credit card aimed at funding the community development initiatives of Rotary International through purchases made using the card.

Standard Chartered announced a donation of Rs 5 lakh to the Rotary Foundation. They said the fund would be raised by allocating 10 per cent of the proceeds from the purchases made by the card users.

Rotary International had relaxed its norms sometime ago to accept co-branding of its name by a corporate in Europe and the US as it would help instil a sense of pride in participating in community service while spending money through the card. This is the first such initiative by Rotary International in Asia.

More Stories on : Credit Cards & Debit Cards

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Indiapost — transforming into a `financial mart'

Banking reforms may slow down

Rupee sheds 38 paise to $

Remittances fuel consumption spree in Kerala

FIIs dump PSU, banking stocks

ING Vysya plans for asset recast venture with ACTIS — Net profit drops to Rs 59 crore

Birla Home Finance cuts rates

Bond prices tumble in jittery market

BoI thrust on home loans in coastal AP

StanChart, Rotary launch `community growth' card

Bank staff reject IBA offer

IFCI staff hope to stall merger with PNB

No setback to reforms process: M.B.N. Rao