New Delhi: Patanjali Ayurved Limited (PAL) and Punjab National Bank (PNB) on Wednesday launched co-branded credit cards in partnership with the National Payments Corporation of India (NPCI).
Co-branded credit cards are offered on NPCI’s RuPay platform.
The co-branded cards offer triple benefits including 5-10% discount on purchase and insurance cover up to Rs five lakh in addition to other amenities.
Acharya Balkrishna, Managing Director of Patanjali Ayurved Limited, speaking on the occasion, said the move is in line with Prime Minister Narendra Modi’s call for ‘Atmanirbhar Bharat’ or self-reliant India.
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He also welcomed the swadeshi call from yoga guru Baba Ramdev, who was also present on the occasion.
Balkrishna said that this credit card would also be of immense help to low income people.
He added, however, that they can enjoy the benefits of this credit card for up to 49 days but will have to make the payment the next day.
Balkrishna further said that people will not only be able to purchase Patanjali products on a daily basis with this credit card but also products from other brands.
He urged all to unite with Patanjali through this credit card.
Ramdev, for his part, said that this card would reinforce the call for “Atmanirbhar Bharat”.
He said the goal is to ensure that one million people enjoy the benefits of this credit card.
Claiming that he has several social media followers, Ramdev said he would try to capture at least one crore of his five crore followers and get their attention on this credit card.
“I will connect those who attend my yoga sessions with those who visit the mega stores in Patanjali,” he added.
Ramdev further said that this credit card has a limit of Rs 10 lakh, adding that people can avail the benefits depending on their income.