OREANDA-NEWS. April 12, 2011. Dr. C Rangarajan, Chairman, Prime Minister's Economic Advisory Council, today launched 24 hours operating e- banking lounge of Indian Bank at Alwarpet, Chennai in the presence of Shri T M Bhasin, Chairman and Managing Director; Shri V Ramagopal and Shri Rajeev Rishi, Executive Directors of Indian Bank. With this, the customers of Indian Bank will have 24 * 7 * 365 availability of Cash Deposit, Cash withdrawal, cheque deposit with acknowledgement, Internet Banking, touch screen banking for all Account Related Transactions. The e- Banking Lounge houses a Cash-in ATM to deposit cash for on-the-spot credit, Cash dispensing ATM, an Electronic Cheque Drop Box, Self Service Kiosks and Internet Banking terminal.

Dr. C Rangarajan also launched two new tech products of Indian Bank viz. Maestro enabled Debit Card for Senior Citizens and Inter-bank Mobile Payment Services. He lauded the Bank for its initiatives in launching customer friendly new tech products.

Addressing the press, Shri T M Bhasin, Chairman & Managing Director, Indian Bank said that the Bank is always keen on introducing innovative, easy to use new tech products for the benefit of all types of customers and the general public. Bank has plans to introduce e-banking Lounges in various metros across the country. He said that the introduction of Senior Citizen ATM Debit Cards proves that Indian Bank always cares for Senior Citizens and ensures timely financial services in case of emergencies.

Highlighting the salient features of Inter-bank Mobile Payment Services, he said that this 24*7*365 payment delivery channel will be a boon not only to the youngsters but also to the rural populace for performing Financial Inclusion transactions.

Shri Bhasin said that the Bank has a robust and reliable IT platform and appealed to the customers to make use of all the existing as well as new products and services of Indian Bank and derive optimum benefits.

The Senior Citizen Debit Card will contain details like year of birth, Blood Group and Photo of the senior citizen. A sum upto Rs.25000 can be withdrawn from ATM and POS related transactions upto Rs.50000/- can be done.

Inter-bank Mobile Payment Services enable customers of Indian Bank to send or receive remittance from / to customers of other banks through mobile phone. To start with, the service will be for amount upto Rs.1000/-. To receive inward remittance, a customer should have a Mobile number registered with the Bank and have a Mobile Money Identifier (MMID). To send remittance, one should get MPIN (Mobile Personal Identification number) from Indian Bank.

Shri M Balakrishnan, Chief Operating Officer, National Payments Corporation of India explained the features of Inter-bank Mobile Payment Services.