IDBI Bank in association with National Payments Corporation of India (NPCI) launched the 'Rupay Platinum Debit card' in the presence of M. S.Raghavan, CMD, IDBI Bank and A. P.Hota, MD and CEO, NPCI.

The 'Rupay Platinum Debit card' enables cost-effective, fast and secure access to large number of ATMs, POS terminals, e-commerce websites and participating merchant establishments across the country. Customers can benefit from various discounts and offers that can be availed on registering for the card.

The card fulfils the vision of RBI of offering a domestic, open-loop, multilateral payment system to all banks and financial institutions in India. It will be instrumental in creating a less-cash economy and furthering the electronic payments system to make India a financial inclusive economy.

All transactions under this card scheme are processed within the country and are in compliance with the regulatory requirement for debit cards and the PIN has been made mandatory for performing any kind of transactions. This ensures a higher level of security to the customers.

M. S.Raghavan, CMD, IDBI Bank said, ''We understand the sea change in the banking habits of people and hence, The ‘Rupay Platinum Debit card’, is another effort towards giving our customers seamless service at par with the modern day banking technology. Our association with NPCI will enable us to bring to the customer value added services with sound benefits and returns.''

Shares of the bank declined Rs 1.7, or 2.08%, to settle at Rs 80.10. The total volume of shares traded was 1,039,579 at the BSE (Monday).