State Bank of India (SBI) has launched RuPay Platinum debit card in association with National Payment Corporation of India (NPCI). The RuPay card comes with a special feature for the convenience of customers that is accepted at all payment channels- ATMs, PoS and eCommerce.
The card would be initially issued free to customers maintaining a quarterly balance of Rs 50,000. Currently, SBI has 19.7 crore debit cards in circulation and of which 4.5 crore are RuPay cards.
State Bank of India is an Indian multinational, Public Sector banking and financial services company. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra.