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Business EconomyPosted at: Jun 17 2022 3:34PM


BFSL & Nainital Bank launches BoB co-branded contactless RuPay credit card

Hyderabad, June 17 (UNI) BOB Financial Solutions Limited (BFSL), a wholly-owned subsidiary of Bank of Baroda and Nainital Bank, on Friday announced the launch of Nainital Bank - BoB co-branded Contactless RuPay Credit Card.
The card, being launched in the centenary year of Nainital Bank, is designed to reward customers for everyday spend categories like grocery and departmental stores, the bank said in a release.
Cardholders of Nainital Bank - BoB RuPay Contactless Credit Card will be able to earn 5X i.e. 5 reward points (per Rs. 100 spent) for spends on grocery, departmental stores and movies.
For all other spends, cardholders will earn 1 reward point per Rs. 100 spent. In addition, cardholders will also benefit from 1 per cent fuel surcharge waiver on fuel purchases.
The co-branded credit card also offers complimentary Personal Accidental Death insurance.
The card is offered at zero joining fee and a nominal annual fee that is waived on spending of Rs. 25,000 per year.
To ensure quick and simple acquisition of the co-branded card, customers can apply using a 100 percent digital process.
Speaking at the launch, Dinesh Pant, Managing Director & CEO, Nainital Bank said, the benefit of personal accidental death Insurance would be an added advantage. I am confident that this co-branded credit card will attract customers of Nainital Bank.
Speaking on the occasion, Shailendra Singh, Managing Director & CEO, BFSL said, “this is our first co-branded partnership within the Bank of Baroda family. After running focused acquisition programs with other subsidiaries and integrating with TABIT, the digital onboarding platform of Bank of Baroda, the co-branded credit card with Nainital Bank is a significant step forward in leveraging internal resources and building synergy within the larger Bank of Baroda family.”
Commenting on the development, Rajeeth Pillai, Chief Relationship Management and Marketing , NPCI said, these cards are designed to provide a seamless and rewarding shopping experience to the customers through attractive benefits on everyday spending categories.
With RuPay, we aim to offer customized value propositions backed by our cutting-edge technology to our customers and strengthen RuPay's customer base across the country, he added.
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