The public sector lender, Syndicate bank, celebrated its 87th Founder's Day by launching three new retail segment products - a debit card called "Syndicate Bank International VISA Gold Debit Card", a kisan credit card called "Syndicate Bank RuPay Kisan Card" and a savings account product for salaried individuals called "SyndNavarathna".
On the occasion, the bank's Managing Director and Chairman, Mr. M. G. Sangvi also announced that the bank has set a target of achieving Rs. 3.5 lakh crore worth of business by the end of the current fiscal. He went on to add that till now the bank had done business worth Rs. 2.85 lakh crore.
In addition to this, the bank also plans to open 200 new branches across the country. On the matter, M. Anjaneya Prasad, the executive director of the bank said, "The bank in association with National Payment Corporation of India (NPCI) will be issuing Syndicate Bank RuPay Kisan Card to farmers, who have availed Kisan credit card facility from the bank." He added, "The card is enabled for ATM Cash withdrawal. The RuPay Kisan card will give further thrust to the financial inclusion initiatives by offering low-cost payment system."
The savings account product is offering customers features like zero minimum balance requirement, sweep in and Sweep out facility, overdraft facility etc.