Bandhan Bank, a leading private lender, plans to enhance its customer base among women by launching a series of products specifically tailored for them. The bank, which began as a microfinance institution (MFI), prioritises women as key contributors to its success.
As part of this initiative, Bandhan Bank introduced a women-specific debit card, “Avni,” in collaboration with Mastercard. The Avni debit card offers a range of benefits, including accident insurance coverage and discounts on locker rentals. It is linked to a specialized savings account and requires a minimum balance of ₹25,000.
In addition to the debit card, the bank has launched a loyalty program, “Bandhan Delights,” allowing customers to earn reward points across various transactions.
Ratan Kumar Kesh, the interim Managing Director and CEO of Bandhan Bank, stated, “With the launch of the Avni debit card, our women customers will gain access to a host of benefits tailored to their specific needs.”
Also read: Bandhan Bank Q1 Results: Net Profit Soars 47% to Rs 1,063 Crore
Currently, Bandhan Bank serves approximately 3.49 crore customers, with women accounting for 73% of this base, or 2.56 crore customers. The bank aims to leverage this focus on women to lower its cost of funds and boost its CASA (Current Account Savings Account) ratio.
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