Citibank Launches Card-Protection Program In India

By Citigroup Inc.

Published January 06, 2009, 2:00 a.m. EST

|

Updated January 06, 2009, 1:00 a.m. EST

1 Min Read

IMGCAP(1)]

Processing Content

Citibank, along with United Kingdom-based CPP Assistance Services Pvt. Ltd., has introduced a service in India that gives its cardholders more protection against lost cards, the United States-based financial institution says in a statement. Cardholders can buy coverage of up to 2 million rupees (US$41,300 or 30,600 euros). Coverage costs between 995 rupees and 1,295 rupees annually. Indian regulators have urged the country's issuers to offer such protections, a Citibank India spokesperson says in a statement.

For reprint and licensing requests for this article, click here.

MORE FROM AMERICAN BANKER

Federal Reserve

Fed flags overheated markets as top stability risk

The Federal Reserve's April financial stability report found that asset valuations remain elevated, even as investors are beginning to demand more compensation for risk amid rising uncertainty around monetary policy.

By Maria Volkova
Reporter

May 8
Litigation

Appeals judge sends Illinois interchange case back to district court

Banking groups that sued the state of Illinois over its law barring banks from charging interchange fees on taxes and tips cheered an appeals court ruling remanding the law to a lower court and vowed to keep the law going into effect, which is slated for July 1.

By Ebrima Santos Sanneh
Reporter

May 8
Industry News

Goldman taps Feldgoise, Schiffrin; Fidelity to cut 800 staffers

Stephan Feldgoise and Joshua Schiffrin will join Goldman Sachs' management committee; Fidelity Investments is dismissing about 800 personnel as it restructures its technology and product-delivery teams; Citi has hired JPMorgan's André Ross as its country officer and banking head for South Africa; and more in this week's banking news roundup.

By Traci Parks
Copy editor, American Banker

May 8
Buy now pay later

Affirm's Levchin rejects AI layoffs

Affirm CEO Max Levchin said that the company did not have any plans for AI-spurred layoffs despite the fact that it was using the technology more for software engineering.

By Joey Pizzolato
Reporter

May 8
JPMorgan Chase

What payment leaders had to say at American Banker's Payments Forum

Leaders from Wells Fargo, JPMorganChase and more talked about how banks can respond to the fast-moving changes in money movement, new forms of artificial intelligence, fraud, digital assets and more.

By John Adams
Executive Editor, Payments

May 8
Earnings

Jack Dorsey touts Block's AI-driven restructuring

The payments company posted strong adjusted earnings following a dramatic downsizing, which management attributed to the influence of artificial intelligence.

By John Adams
Executive Editor, Payments

May 8

Load More