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PNB to launch World Travel Card

After launching Global Credit Card earlier this February, Public sector bank Punjab National Bank is planning to launch World Travel Card for the globetrotters.

, ET Bureau|
Sep 01, 2009, 03.34 PM IST
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JAIPUR: After launching Global Credit Card earlier this February, Public sector bank Punjab National Bank is planning to launch World Travel Card for the globetrotters. PNB chief general manager ���credit card venture division ��� Ranjan Dhawan told ET that the bank would be launching this pre-loaded travel card by November this year for the convenience of people traveling abroad. "It would be the safest and the convenient currency instrument to carry.

Instead of carrying traveller���s cheque or global currency like Dollar or Pound, the World Travel Card holders would be able to withdraw local currency convertibles from any bank ATM of respective countries they visit. The holder has to pre load the card with the amount he would like to carry," he said.

The bank is also planning to promote products like PNB Principal Mutual Fund through its branches. ���We want to promote financial instruments among our customers which are conservative in nature. If it will not grow meteorically in boom time, it will not dip drastically during the ebb either. Besides metros and tier I cities we will also focus on tier II and III cities to grow our card business,��� he said. Apart from that, the bank is also planning to add new products to its Global Credit Card portfolio with an aim to clock Rs 200 crore business selling 2 lakh credit card in this fiscal.

At present, the bank offers PNB Gold and PNB Global Classic to its customers of various income groups. ���We are going to launch corporate cards and platinum cards in next few months. Corporate Cards will be meant for senior executives of companies who often travel for business purposes while Platinum card is being designed for high-end customers. This card will meet the requirements of customers like premium gold membership, lounge expenses etc," Mr. Dhawan said.
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