Bank of India launches Gold Card with Visa
(Thursday, July 8, 1999)
Our Banking Bureau in Mumbai (Business Standard)
Bank of India has launched its Gold Card in association with Visa International. It is a premium credit card targeted at high net-worth clientele.
The card's features include a cash withdrawal of Rs 10,000, revolving credit facility, a spending limit of Rs 5 lakh, two add-on cards for family members and personal accident insurance cover of Rs 8 lakh for air travel.
The bank offers a 'no liability' promise on a lost card from the time the customer informs the bank about the loss of the card.
The card was launched by Ratan Tata, Chairman of Tata Sons at a function here in Mumbai.
Present at the function were A T Pannir Selvam, Chairman Union Bank of India and Rahul Khosla, Country manager Visa International.
While welcoming the launch of the card, Pannir Selvam cautioned that many banks were faced with overdues on card payments and urged the bank of India to ensure that it chose it's customers with care.
S Rajagopal, chairman and managing director of Bank of India, speaking on the occasion, said that the Indian credit card market was rated as one of the world's fastest growing markets.
He said that the Bank of India would be issuing global cards after obtaining the necessary RBI approvals and as soon as on-line authorisation facilities are in place.
Photo cards with the photograph and signature of the cardholder would also be issued soon, he said.
The Bank of India has four other card products -- the India Card, the Taj Premium card issued in 1990 in association with the Taj Group of hotels, the Navy Card issued to Indian Navy officers and the BoI automated teller machine card issued since 1997. |
