Airtel Payments Bank Launched India’s 1st Eco-Friendly Debit Card: India’s first payment bank, Airtel Payment Bank also became the first Indian Bank to launch an eco-friendly debit card for its new and existing customers with a savings bank account. In contrast to standard PVC cards, the debit cards will be made of recycle-Poly Vinyl Chloride (r-PVC), a certified eco-friendly material. The introduction coincides with the Bank’s dedication to sustainability and its drive to advocate for environmentally conscious practices within the financial industry.
Daily Current Affairs Quiz: August 2023
Environmental Impact
- Each production batch of 50,000 cards results in a 350 kg decrease in carbon emissions when compared to typical PVC cards commonly used in the market.
- The production of r-PVC cards will lead to a 43% reduction in hydrocarbon consumption, playing a role in curbing petroleum usage during the manufacturing process.
- With each batch of r-PVC cards contributing to the conservation of an 6.6 million litres of water.
About new Debit cards
Airtel Payments Bank debit card comes in two variants(under Classic variant)
i. Personalised Classic Card: Availed through the Airtel Thanks mobile application.
ii. Insta Classic Card: Availed at selected neighbourhood banking points (by the close of the current quarter).
Note: The cards also provide rewards such as up to INR 10,000 in e-commerce perks and complimentary One Dines experiences in major cities across India.
Important takeaways for all competitive exams:
- Airtel Payment Bank MD & Chief Executive Officer: Anubrata Biswas;
- Airtel Payment Bank Headquarters: New Delhi, Delhi;
- Airtel Payment Bank Established: 2017.