Central Bank of India launches new mobile banking app

Madurai: The Central Bank of India, which is celebrating its 103rd Foundation day today, has launched a new Mobile Banking application and EMV (Europay, Mastercard,Visa) compliant 'RuPay' debit card.

Finance Minister P Chidamabaram launched the scheme, along with 103 branches and 103 ATMs of the bank through video conferencing.

Rajeev Rishi, chairman and managing director of the Bank, said the card would help traders to draw Rs 40,000 a day or Rs 1 lakh in case of International transactions.[caption id="attachment_1303257" align="alignleft" width="380"] Logo of Central Bank of India. Image courtesy Central Bank of India[/caption]

The card would be accepted at all channels including- ATMs, PoS machines, e-commerce. Now EMV chip and pin cards with enabling global acceptability had been introduced, an official of the bank said.

The EMV compliant RuPay Debit Card is based on the Swadeshi Platform and is more secure with in-built security chip, he said.

The mobile application intended to promote greener and eco-friendly channels of banking while at the same time facilitating all types of customers to avail banking services on the go.

More from Fwire

Rishi said the bank had always been a common man's lender and chose the occasion to focus on the rural and under privileged sector as well.

The bank also launched a special Chola Arogya Bhima Health Insurance Policy through the Finance Minister, to provide affordable Health Insurance to 1.03 lakh rural families. Five hundred and three Women Self-Help Groups were linked with Bank's Financial Assistance.

RK Goyal and Animesh Chauhan, executive directors of the Bank, were also present at the occasion.

The finance minister also inaugurated Bank's CSR activities in 103 government schools (100 in the bank's lead districts and three in Sivaganga district).

PTI