Deutsche Bank introduces Star Alliance in India

New Delhi, May 12: Deutsche Bank, one of the world's leading financial service providers, announced the launch of its new service 'Star Alliance' in India, through which its customers who visit overseas can withdraw money free of cost from 30,000 ATMs in 40 countries.

''Our overseas customers require money and for their convenience we have brought out a special service 'Star Alliance'. Through this facility they can withdraw money from 30,000 ATMs in 40 countries free of cost. This is the first of its kind in India and we are happy and proud to bring this service to India,'' Deutsche Bank (India) Retail Banking Head and MD Ajay Bimphet told reporters here last night.

The bank has tied up with five foreign financial institutions for this special service.

''For this service we have tied up with five foreign banks namely Bank of America (US), Bank of Nova Scotia (Canada), Barclays (UK), BNP (France) and West Bank (Australia),'' he added.

When asked about India's customer base, Mr Bimphet said,''We already have a base of over 17,000 customers. We are targeting demanding clients and the segments we are looking at is the affluent and the mass affluent.'' Deutsche Bank has eight branches in India with two in Mumbai and one each in Delhi, Kolkata, Chennai, Bangalore, Gurgaon and Noida.

The company had recently launched its retail banking service in India.

UNI