IMGCAP(1)]
Processing Content
The Indian arm of United Kingdom-based Standard Chartered Bank says it has begun to issue a Visa-branded card with debit and credit applications. The card's debit function enables consumers to withdraw or spend up to 200,000 rupees (US$4,485 or 3,150 euros) per day. The "1 Money" card comes with an annual fee of 6,000 rupees, the bank says in a statement. The financial institution has issued more than 1.5 million credit cards in India, but the number of debit cards issued was not immediately available. The country has 26 million credit cards and 70 million debit cards, the Reserve Bank of India says.
