Bhopal. February 14, 2018: In a step towards effective digitization, Indian Oil Corporation Limited in association with Ratnakar Bank Limited (RBL) launched a co-branded pre-paid card facility for its customers today at Bhopal. The card was launched by Mr. D.K. Sharma, Executive Director (Retail Sales), IndianOil, Mr. Vigyan Kumar, Chief General Manager, IndianOil Madhya Pradesh State Office, Mr. Shrinath Bolloju, Chief Operating Officer, RBL Bank and Ms. Sujata Mohan, Head (Digital Banking), RBL Bank.
Speaking on the occasion, Mr. D K Sharma, Executive Director (Retail Sales), IndianOil informed that with the introduction of this platform, our dealer partners have been provided with an important tool to effectively service our customers and hence, a series of innovations can be expected in days to come. With the complementary efforts of RBL Bank, we are confident that “they will tell us where the opportunities lie so that customers can be benefitted”.
Mr. Vigyan Kumar, Chief General Manager, IndianOil, Madhya Pradesh State Office in his welcome address informed that “IndianOil RBL Bank Prepaid Card is the first such card in the Oil Industry which will provide a unique platform not only for attracting customers but also retaining our customers.”
Mr. Shrinath Bolloju, Chief Operating Officer, RBL Bank said that the bank is poised to give excellent service through its various channels of banking services and that this pre-paid card is the right step in this direction.
Indian Oil Corporation Ltd., a market leader in various fuel segments in India with more than 26,000 Retail Outlets across the country has always strived to serve customers through its various offerings. With this latest product, the Corporation plans to offer the benefits of electronic transactions to even those customers who were hitherto not able to utilize these digital forms of payment.
This card which can be utilized by any person having basic KYC documents can be obtained even without having a bank account. The most redeeming feature of the card is that it not only offers XTRAREWARDS points on purchase of fuel or SERVO lubricants from IndianOil’s participating retail outlets across the country but can be used for non-fuel transactions as well. In that sense, it is a truly one stop solution for all kinds of transactions.
Available at most Retail Outlets of IndianOil, including about 1800 outlets in MP & Chhattisgarh customers can now load their cards with either cash at select retail outlets or online through NEFT, IMPS or through UPI. The card also provides the benefit of cashless incentive of 0.75% from IndianOil.
RBL Bank is one of India’s fastest growing private sector banks with an expanding presence across the country. The Bank offers specialized services under six business verticals. It currently services over 3.98 million customers through a network of 246 branches and 394 ATMs spread across 20 Indian states and Union Territories.