Indian Overseas Bank Launches RuPay Select Debit Card

Current Context: Indian Overseas Bank (IOB) has launched a new RuPay Select Debit Card for its high net-worth individual (HNI) customers.

• The card offers luxury, convenience and security benefits such as gym memberships, free health check up, complimentary golf lessons, spa services, and lounge access in selected domestic and international airports.
• To be eligible for the card, one needs to have a savings bank account or a certificate of deposit (CD) with IOB, maintaining an average daily balance of  one lakh.
• The card has a cash withdrawal limit of 50,000 and a daily limit for usage in merchant establishments (PoS) of five lakh.
• The charges for the issuance of the card and annual maintenance fee are 800 plus GST, respectively.

Question:

Q.1 What is the name of the bank that launched the RuPay Select Debit Card?
a. Indian Bank
b. Indian Overseas Bank
c. State Bank of India
d. HDFC Bank