PNB Targets 200,000 Credit Cards Issue By 2010

Uttar Pradesh, India (PressExposure) August 18, 2009 -- Punjab National Bank, the state run lender has set the target of issuing 200,000 global credit cards by March 2010. The bank's decision is motivated to enhance the credit card business.

The Chief General Manager of PNB (Credit Cards), Ranjan Dhawan confirmed the news saying that the bank is aiming to issue 2 lakh global cards by the end of the current financial year. - The bank would soon be launching its new Corporate and Platinum Cards. The Corporate Cards will be launched for those people who earn more and often use to travel for the business purposes. He also said that this category will involve two cards, corporate liability and individual liability in it.

On the other hand, the Platinum Card will be launched with the purpose of serving the needs of those people who earns between Rs.7 lakh to Rs.10 lakh per annum.

He added that the these two new cards are already out for the trials and will get their official launch within next 2 months.

PNB launched its credit cards in the month of February in alliance with VISA and has already established 28,000 subscribers base. The card is acceptable in 1 million ATMs and 29 million merchant establishments in all over the world.

The bank has taken the decision of entering the Card Acquiring Business and is expected to provide Point of Sales terminals to those merchandise establishments which enters into the tie up with it.

Dhawan added that the bank is seeking Expression of Interest for the launch of this service within next 8-9 months.

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Press Release Submitted On: August 18, 2009 at 6:47 am
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