BOI to cover more states on credit card for pensioners

Bhubaneswar, Feb 21 (UNI) The Bank of India (BOI) will soon introduce its Special Credit Card for pensioners in some more states after success in Maharastra, according to its Chairman cum Managing Director M Balchandran.

Talking to newsmen here, Mr Balchandran said the bank for the first time in the country, has introduced the Special Credit Card for pensioners in Maharastra providing 45 days credit time besides a low interest rate in comparision to other credit cards.

He said the bank is trying to introduce the scheme in other states including Orissa and started negotiating with the Postal departments to implement the scheme.

The BOI Chairman said using the credit card, one could get a cash of Rs 5000 delivered at his doorstep besides availing the overdraft facilities for a period of three months.

He said the bank would be introducing the electronic kissan card, which would help the farmer to use it as an ATM card to draw and deposit the cash. Besides, the card holder could also purchase fertilisers, pesticides and diesel from the shop.

Mr Balchandran said the bank had adopted 128 villages in 76 districts spread over 17 states across the country where it would pump in Rs 500 crores to prepare a master plan for the next five years to provide knowledge base, electronic connectivity and other alternate sources of energy.

The bank, he said, would set up library rural kiosk in these identified villages.

UNI