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PNB launches debit card

The card can be used in 25,000 ATMs, including those of PNB, and other banks with which it has ATM sharing tie-ups.

india Updated: Feb 06, 2006 17:40 IST

Eyeing one crore volume sales within a year, Punjab National Bank today came out with signature-based debit card and said facility of plastic money would be further expanded after all its 4,500 branches come under central banking solution (CBS) within two years.

To use the debit card, launched in association with MasterCard International, for any purpose other than withdrawing money through ATMs, customers will have to sign as is the case with credit cards, MasterCard South Asia General Manager Nitin Gupta told reporters.

However, ATMs facility could only be used only on the basis of personal identification number (PIN).

PNB already has PIN-based debit card, Maestro, in the market.

Expressing optimism that the bank would sell one crore of signature-based debit cards, PNB Executive Director CP Swarankar said the bank has 1,827 branches under CBS with 1.5 crore customers, who can use the plastic money.

The bank is expected to bring another 1,000 branches under CBS this year and all the 4,500 branches by next two years.

Then, the bank expects to see much faster use of the plastic money, a PNB official said.

The card can be used in 25,000 ATMs, including those of PNB, and other banks with which it has ATM sharing tie-ups.

First Published: Feb 06, 2006 17:40 IST