PNB launches co-branded contactless credit cards with Patanjali in partnership with RuPay
Thursday, 03 March 2022 | PNS | Dehradun
Punjab National Bank (PNB) and Patanjali Ayurved Limited (PAL) along with National Payments Corporation of India (NPCI) have launched two variants of co-branded contactless credit cards. The scheme was launched with credit cards being presented to Yoga guru Swami Ramdev and his aide Acharya Balkrishna at an event.
Speaking on the occasion, Ramdev said that this development is a milestone towards achieving the aim of a self reliant India. This will prove to be an effective tool for vocal for local and local to global initiatives. The Patanjali credit card will soon be in the reach of about one crore people. Under this scheme, the card holder will get Rs 50,000 to Rs 10 lakh credit limit, accidental insurance benefit of upto Rs 10 lakh, special discount of five per cent on Patanjali products and provision for discount and reward points on products of other companies. “This Swadeshi credit card will be an important contributor in fulfilling the dream of Atmanirbhar Bharat,” said Ramdev.
Expressing his views, Balkrishna said that the first time people of the nation will get a credit card which will be connected to various forms and facets. He said that Patanjali has been associated with PNB since the beginning. All employees of Patanjali will be linked to co-branded contactless credit cards, he said.
NPCI chief relationships manager Nalin Bansal said that about 70 crore to 80 crore debit cards are operational through RuPay though the number of credit cards is about seven crore. “About 10 years ago foreign companies used to hesitate in providing card facilities through these banks but we have changed this concept. At a time when attempts are being made at the global level to affect the business of others, if a difficult situation arises in India, there will not be a negative effect on our services and our payments will not stop. We have developed the technique and are not dependent on other nations for it,” he said.
The PNB MD and CEO Aditya Nath Das said that this joint effort achieves the vision of Swadeshi. “We will carry forward this credit card scheme in the form of a campaign. We are fully committed to increase the reach of people to this credit card,” he said.
