India’s first payment bank, Airtel Payment Bank also became the first Indian Bank to launch an eco-friendly debit card for its new and existing customers with a savings bank account. The debit cards will be crafted from recycle- Poly Vinyl Chloride (r-PVC) material, a certified eco-friendly material, against normal PVC cards. The introduction coincides with the Bank’s dedication to sustainability and its drive to advocate for environmentally conscious practices within the financial industry.
- Each production batch of 50,000 cards will result in a reduction of 350 kgs of carbon emissions compared to the traditional PVC cards commonly used in the market.
- The production of r-PVC cards will lead to a 43% reduction in hydrocarbon consumption, playing a role in curbing petroleum usage during the manufacturing process.
- With each batch of r-PVC cards contributing to the conservation of an 6.6 million litres of water.
About new Debit cards
Airtel Payments Bank debit card comes in two variants(under Classic variant)
i. Personalised Classic Card: Availed through the Airtel Thanks mobile application.
ii. Insta Classic Card: Availed at selected neighbourhood banking points (by the close of the current quarter).
Note: The cards also offer the rewards with e-commerce benefits of up to INR 10,000, as well as complimentary One Dines experiences in major cities across India.
Important takeaways for all competitive exams:
- Airtel Payment Bank MD & Chief Executive Officer: Anubrata Biswas;
- Airtel Payment Bank Headquarters: New Delhi, Delhi;
- Airtel Payment Bank Established: 2017.