Tuesday, December 24, 2013

Central Bank launches mobile banking app and EMV compliant RuPay debit card

Central Bank CMD Rishi
PUBLIC sector bank Central Bank of India has launched a new mobile banking application and EMV (Europay, Mastercard,Visa) compliant 'RuPay' debit card on Monday. Finance minister P Chidamabaram launched the scheme, along with 103 branches and same number of...
ATMs of the bank through video conferencing. The bank was celebrating its 103rd Foundation day Monday.
Chairman and managing director (CMD) of the bank Rajeev Rishi said the card would help traders to draw Rs 40,000 a day. In case of international transactions, the limit is Rs 1 lakh and it will be accepted at all channels including ATMs, PoS machines, e-commerce. Now EMV chip and pin cards with enabling global acceptability has been introduced, an official of the bank said.
The EMV compliant RuPay debit card is based on the Swadeshi Platform and is more secure with in-built security chip, an official of the bank said. The mobile application intended to promote greener and eco-friendly channels of banking while at the same time facilitating all types of customers to avail banking services on the go. Rishi said the bank had always been a common man's lender and chose the occasion to focus on the rural and under privileged sector as well.

The bank also launched a special Chola Arogya Bhima Health Insurance Policy to provide affordable health insurance to 1.03 lakh rural families. 503 women self-help groups were linked with the bank's financial assistance. The finance minister also inaugurated the bank's CSR activities in 103 government schools.

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