State Bank of India to launch easy card for students

Started by sajiv, Oct 13, 2008, 07:52 PM

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GUNTUR: The State Bank of India will soon launch 'easy card' – an ATM-cum-debit card exclusively for students getting scholarships, in tune with the recent State government's decision to remit scholarships on-line. The SBI branch at Lakshmipuram will act as the nodal branch to facilitate distribution of these cards.Speaking to The Hindu on the sidelines of an SBI loan mela held at K.K.R Plaza here on Sunday, Assistant General Manager V.S.R. Anjaneyulu said that the card would have both the parents and the students as joint account holders, a facility which would enable the parents to draw the scholarship amount from any ATM counter.

The card would come with various features including, maintaining zero balance amount.

The SBI would soon start the exercise of writing to various headmasters and getting the lists of student beneficiaries. After verifying the list, the SBI would register their names and open accounts in the name of the parents. The cards would be sent to the respective schools for distribution.Unveiling some of the new plans of the SBI, he said that a pre-paid SBI gift card would be launched in Guntur soon, which would enable customers to gift their friends or relatives ATM cards through which they could make transactions across the country.

New customers: He said that the two-day loan mela attracted many new customers and said that the volume of business reached Rs.16 crore until Sunday morning.More than 170 customers booked car, house and business loans.The mela provided 50 per cent concession on processing charges on car and house loans and 30 per cent on business loans, he added.