Ltd, a wholly-owned subsidiary of Bank of Baroda, and MasterCard
International has launched the Paras credit card.
BoBCards Ltd managing
director C B Chhaya says the Paras electronic card will
be launched in the metros, while the Paras credit card
will be introduced in non-metros. "BoBCards is also
launching a mass-market MasterCard Electronic card programme
specifically targeted at first-time users in India at
a nominal annual fee of Rs 300."
Under this programme, the
first beneficiary will be BoBCards users, who will have
the option to convert to the MasterCard credit card and
the MasterCard electronic card programme. Several value-added
features will be offered to the consumers, including a
revolving credit limit with cash withdrawal facility and
accidental insurance cover.
Bank of Baroda chairman and managing director P S Shenoy:
"This is one more step towards offering more sophisticated
to our customers. Our strategy now is to attain a critical
mass." Currently, BoBCards has a card base of 1,50,000.