StanChart-Tata AIG tie-up for 'Extended Protection Plan'

Standard Chartered Bank has signed a pact with general insurer, Tata AIGt to launch Plus 'Extended Protection Plan'. This policy will provide insurance cover for the loss occurred due to fraudulent transactions made on a lost debit/credit card of the Standard Chartered Bank.

A card-holder can claim for those transactions on the lost card up to 12 hours prior to the customer reporting the loss to the card to Standard Chart Bank.  In case of fraudulent transactions on the card, a customer will receive reimbursement up to Rs 50,000 per occurrence.

The plan also covers ATM assault and robbery insurance, lost wallet protection, purchase protection and home protection while away, the bank said.

StanChart has 90 branches in 33 cities in the country and has a combined customer-base of around 21 lakh.