The Central Bank of India (CBI) has introduced a new mobile banking app, and Europay, Mastercard, Visa- (EMV) compliant RuPay debit card on 23 December 2013 to celebrate its 103rd Foundation day.

The new mobile banking application allows customers to perform banking operations anywhere and at anytime.

CBI managing director and chairman Rajeev Rishi said the new debit card would allow traders to draw INR40,000 ($646) per day or INR100,000 ($1,610) for international transactions.

The new EMV chip and pin cards can be used at ATMs, point-of-sale (POS) machines and e-commerce.

CBI also rolled out a new Chola Arogya Bhima Health Insurance Policy, which will offer health insurance for around 103,000 rural families in India.

Rishi added the bank had always been a common man’s lender and chose the occasion to focus on the rural and under privileged sector as well.

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