BANGALORE: Vijaya Bank has launched V-Insta Debit Card here on Monday. Stating that there were no technical glitches for an earlier launch, HS Upendra Kamath, Chairman and Managing Director of Vijaya Bank justified that the release of the card was purely a decision made by the bank and was not susceptible to competitors.
Refusing to comment on the delay in a launch of a product that already has been launched by their competitors, he said that this was the formal launch of the product. He clarified that there would be no additional cost incurred to the customer for procuring this card. Added to this, the card would be given to the customer the very day they open the account.
Executive Director, Shubhalakshmi Panse said that the account holder would be given the card the very day he opens the account and added that it would be activated the very next day via SMS.
The new debit card is one of the variants of its Alternate delivery channel products called V -Insta Debit card and issued in association with VISA international.
The card can also be used at merchant locations globally and that the the daily limits for cash withdrawal is `30,000 and for merchant transaction `25,000. Kamath also said that the bank aimed to add an additional 10 lakh cards.