Page 17 - Banking Finance January 2025

PRESS RELEASE

ICICI Bank and Times Internet jointly launch a super-premium credit

card

ICICI Bank and Times Internet, a digital arm of The Times of refined tastes and preferences of our customers. We offer
India Group, announced the launch of a super-premium co- a wide range of credit cards designed to cater to diverse
branded metal credit card. Powered by Visa, the ‘Times Black customer needs, including travel, e-commerce, and lifestyle
ICICI Bank Credit Card’ provides exceptional experiences, travel preferences. We believe this new credit card is going to play
benefits, luxury lifestyle services and curated privileges an important role in the overall personal banking experience
designed to cater to the tastes of high-net-worth individuals. offered by ICICI Bank to its customers.”
Adding to its uniqueness, the inaugural cards are crafted with
Mr. Satyan Gajwani, Vice Chairman, Times Internet, added,
metal infused with historic printing plates of The Times of India, “The Times Black ICICI Bank Credit Card is a testament to
symbolising a blend of legacy and innovation.
the shared vision of leading brands coming together to
The exclusive co-branded card offers seamless and efficient redefine luxury for India’s affluent segment. Combining ICICI
travel experiences like visa services at home, unlimited Bank’s experience in financial services and Visa’s global
access to lounges at over 1,300 international airports, stays payments expertise with Times Internet’s deep
at luxurious hotel/resort, airport transfers, exclusive access understanding of premium lifestyles, this card offers
to ‘The Quorum Club’ and lifestyle management services unparalleled experiences. Its distinctive metal design,
by CribLife. crafted from historic Times of India printing plates, reflects
Cardholders earn 2.5% reward points on international our commitment to both innovation and tradition.”
spends and 2% on domestic expenditures. They also receive Mr. Sandeep Ghosh, Group Country Manager, India and
exclusive entry to marquee events organised by The Times South Asia, Visa, shared, "Visa’s partnership with Times
Group including Times Lit Fest, ET Startup Awards, ET Internet and ICICI Bank to co-create The Times Black ICICI
Conversations, Art Soiree and more. Bank Credit Card, combines our global payments expertise
Mr. Rakesh Jha, Executive Director, ICICI Bank, said, “We with our partners’ insightful understanding of consumer
are delighted to partner with Times Internet and Visa to behaviour - especially, the ambitious affluent. Together, we
launch the ‘Times Black ICICI Bank Credit Card’. This aligns have designed a unique card, offering elevated payment
with our customer-centric approach and commitment to experiences and distinctive value propositions for ‘India’s
introduce compelling propositions that resonate with the influential’ who value time and premiumization.”

HDFC Bank Carries Out First Gold Forward Deal from GIFT City
HDFC Bank, India’s leading private sector bank, has become the
first domestic bank to execute a gold forward deal from GIFT City.
The deal was executed by HDFC BANK GIFT City IBU in
collaboration with Hindustan Platinum Pvt. Ltd., a global refiner
and manufacturer of high purity precious metal products and
industrial services.
Regulators have enabled onshore entities with gold price exposure
to hedge their risk through GIFT City. HDFC Bank is committed to
be a part of the development of the GIFT City bullion ecosystem.
The Bank’s IBU in GIFT City serves as a trading and clearing member
on the Indian International Bullion Exchange (IIBX).
Speaking on the occasion, Mr. Arup Rakshit, Group Head – Treasury, HDFC Bank said, “We are delighted to announce the
successful execution of the first gold forward deal from GIFT City. This achievement underscores our commitment to
leveraging the opportunities offered by GIFT City to deliver innovative and efficient financial solutions. HDFC Bank will
endeavour to provide tailored hedging solutions to the gems and jewellery sector, as well as various industrial sectors,
to effectively manage their risks.”

BANKING FINANCE | JANUARY | 2025 | 15