Financial Daily from THE HINDU group of publications
Tuesday, Feb 22, 2005
Financial Daily from THE HINDU group of publications Tuesday, Feb 22, 2005 |
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Money & Banking
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Credit Cards & Debit Cards IndusInd Bank to launch debit card for women Priya Nair
Mumbai , Feb. 21 INDUSIND Bank is targeting women to expand its card business. The bank will launch an international debit card with overdraft facility exclusively for women on March 8. The `Mahila Card' will be issued as an add-on card to the women family members of the existing customers, said Mr Varghese Thambi, Senior Vice-President and Head Retail Banking, IndusInd Bank. The card will have accessibility over 1,50,000 point-of-sales terminals across the country besides overseas merchant establishments, he said. The card will be issued under the Visa franchise. The cardholders will also be eligible for overdraft facility of up to Rs 25,000 and 100 per cent cash withdrawal facility without additional charges through the bank's ATMs. The card can be used at over 120 ATMs of IndusInd Bank and over 6,000 Visa/Plus ATMs across the country. The overdraft facility on the debit card will carry a 12 per cent interest rate, against over 30 per cent charged on credit cards.
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