SBI credit card launched

CHANDIGARH, Dec 30: The SBI Credit Card was formally launched in the city today by the chairman of State Bank of India, M.P. Radhakrishnan. Introducing the scheme here immediately after its release in New Delhi and Mumbai, Radhakrishnan said it has been launched to change the consumer’s habit of buying and the mode of payment.

Addressing mediapersons, SBI chairman said that any individual with a gross annual income of Rs 60,000 (Rs 75,000 for the salaried class) can apply for SBI Card by paying a joining fee of Rs 250 and an annual fee of Rs 500. These SBI Cards will be accepted by all merchant establishments accepting credit cards.

Meanwhile, the State Bank of India Pensioner’s Association today submitted a memorandum to Bank chairman M.P. Radhakrishnan. The problems faced by the pensioners were highlighted, which included lack of medical facilities. Also a demand was made for the removal of land ceiling on pension fixed at Rs 4,250 as against 50 per cent of pay last drawn in other banks and government departments.