Page 28 - BANKING FINANCE November 2015 ONLINE

PRESS RELEASE

United Bank of India becomes the 1st Bank in the country to
launch Platinum RuPay Chip Debit Card

United Bank of India became the first Bank in the country to launch Platinum RuPay debit card under the chip platform.
The Platinum card is a high end card from NPCI which comes with higher financial limits and also offers a host of benefits,
thereby giving value for customer's money.

Speaking on the occasion, Managing Director & CEO, Shri P
Srinivas said that customers will be benefited with this card
as apart from a higher daily cash withdrawal limit of Rs.1.00
lac and POS/e-commerce limit of Rs.2.00 lac, there are plenty
of other offers including petrol surcharge waiver, cash back
on ticket booking through IRCTC, access to airport lounges
etc and Bank will be targeting to issue 25,000 such cards this
fiscal. Shri Srinivas said that the Bank is continuously working
towards offering value added services and has already come
out with some unique products like Fixed Deposit on Missed
call & Fund transfer based on mobile number.

Shri Sanjay Arya, Executive Director, said that the United Bank
of India Platinum card is globally accepted and is fully secured as transactions at POS are authenticated by chip & PIN
whereas in on-line transactions, the same is authenticated by PIN & OTP. He further said that United Bank of India is
also having state of the art Internet & Mobile Banking services and presently more than 45% of Bank transactions are
routed through the digital mode. Shri Arya also stated that that the platinum card comes with an inbuilt feature of free
accidental insurance coverage of Rs.2.00 lac, Dr. Rajendran N, CTO, NPCI was also present on the occasion.

SBBJ Revises Base Rate

"State Bank of Bikaner and Jaipur has decided to reduce its Base Rate by 25 basis points from 9.95% to 9.70%. The
revised rate will be effective from 05.10.2015.

The reduction will not only benefit future customers but lead to interest cost savings for existing customers also. The
benefit will be passed on to retail customers with home loan and car loan accounts as well as Agriculture, SME and
Corporate customers also".

The International Islamic Banking Summit Africa 2015

The International Islamic Banking Summit Africa 2015 is scheduled to be held at the Djibouti Palace Kempinski on the
4th & 5th of November 2015 .
The International Islamic Banking Summit Africa is an innovative new landmark gathering which will convene international
industry leaders to boost economic development and facilitate greater trade and investment flows between Africa and
the OIC markets through Islamic finance.
A confirmation of more than 20 industry leading speakers and thought leaders for the event have been recieved including:
N H. E. ISMAÏL OMAR GUELLEH, President of the Republic of Djibouti, Head of Government
N H.E. Ahmed Osman, Governor, Central Bank of Djibouti
N Ijlal Alvi, Chief Executive Officer, The International Islamic Financial Market (IIFM)
N Sohail Akbar, Interim Chief Executive Officer, Standard Chartered Saadiq
N Moinuddin Malim, Managing Partner, Alternative International Management Services
N Ali Afshar, Managing Partner, Alternative International Management Services

28 | 2015 | NOVEMBER | BANKING FINANCE

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