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CBI launches new mobile banking app

Central Bank of India has launched a new Mobile Banking application and EMV compliant ‘RuPay’ debit card. Finance minister P Chidamabaram launched the scheme covering 103 branches and 103 ATMs of the bank through video conferencing.

Rajeev Rishi, CMD 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. 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. The EMV compliant RuPay Debit Card is based on the swadeshi platform and is more secure with in-built security chip.

The mobile application is 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.

The bank also launched a special Chola Arogya Bhima health insurance policy to provide affordable health insurance to 1.03 lakh rural families.

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