Delhi Metro users to enjoy dual Delhi Metro Citibank credit cardCitibank India launches 2 in 1- Delhi Metro Citibank credit card
Apnaloan.com Research Bureau
08 May 2008
Citibank India has launched 2 in 1 co-branded credit card - Delhi Metro Citibank credit card on 7th May 2008. Claimed to be first in India, this credit card has dual benefits. The unique feature of the card is, it could be used to for travel in the Metro rail, apart from using it in other merchant outlets. Now the Delhi Metro users can make the most of the card.
As reported by Business Line Mr P.S. Jayakumar, Country Business Manager, Global Consumer Group, Citi India, said, "The unique value proposition of this card is that it combines the benefit of a Metro Smart Card with the advantages of credit card."
Delhi Metro Rail Corporation ( DMRC) will continue to sell its standalone smart cards for which it charges Rs. 50 refundable deposit fee. Currently the DMRC has 7.5 lakh users of Metro Smart card whereas daily usage of Smart card is about 3.5 lakh and Citibank has a credit card base of only 3.6 million in India.As reported by Business Line Mr Raj Kumar, Director, Operations, DMRC said "Citi India has bagged the rights for the co-branded card after an intense competition, which is presently valid for 2 years, through the competitive bidding route," Citibank has paid Rs. 6 crore to DMRC for the 2-year arrangement. The bank is looking forward looking to issue 2 lakh co-branded '2-in-1' transit credit cards over the next
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