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Patanjali and PNB launch co-branded credit cards in association with RuPay

The initiative was taken by Yoga Guru Chancellor of Ramdev University Acharya Balakrishna of Patanjali and Chief Minister of Madhya Pradesh Shivraj Singh Chouhan.

New Delhi: Yoga Guru Ramdevit’s Patanjali and National Bank of Punjab launched co-branded contactless credit cards in association with the National Payments Corporation of India (NPCI).

Patanjali’s credit cards are based on NPCI’s RuPay platform and are available in two variants: PNB RuPay Platinum and PNB RuPay Select.

His Platinum Card will have a credit limit of Rs 25,000 to Rs 5 lakh; and Select Card will have a limit of Rs 50,000 to Rs 10 lakh.

“Starting the new year on a high note, co-branded cards offer a host of attractive benefits and spend-based waivers for customers,” the NPCI said in a statement.

Advantages and specifications of the cards:

-These contactless credit cards will allow users to purchase Patanjali products on a daily basis, as well as cash back, loyalty points, insurance coverage, and more.

-Cardholders can get 2% cashback for transactions over Rs 2,500, subject to a cap of Rs 50 per transaction at Patanjali stores.

-Users will receive a welcome bonus of 300 reward points upon activation.

-In addition, Patanjali customers with these cards will enjoy free access to domestic and international airport lounges, PNB Genie mobile application for card management, add-on card function, points rewards on spend, as well as cash advances, EMI and automatic debits.

-These credit cards also come with insurance coverage of Rs 2 lakh and Rs 10 lakh in case of accidental death and personal total disability respectively.

-Platinum card has no membership fees but charges an annual fee of Rs 500; while the Select version will charge a membership fee of Rs 500 and an annual fee of Rs 750.

-Cardholders will not have to pay annual dues if the card is used at least once per quarter during the previous year.

Commenting on the launch of the card, the Managing Director of Patanjali Ayurved Acharya Balkrishna said the move is in line with Prime Minister Narendra Modi’s call for a self-reliant India.

This partnership, he said, will help accelerate the adoption of digital payments, especially among users in small towns and villages.

“Besides the benefits, the most important feature of the card is interest-free purchase of Patanjali products for 20-50 days,” Balkrishna added.