IndusInd Bank launches ‘eSvarna’, India’s First Corporate Credit Card on RuPay Network

Current Context: On 26th December 2023, IndusInd Bank has indeed launched ‘eSvarna’, which is India’s first Corporate Credit Card on the RuPay network.

• This launch positions IndusInd Bank as the first in the country to integrate UPI functionality with a Corporate Credit Card.
• The eSvarna credit card facilitates smooth transactions at merchant outlets and allows users the flexibility to make UPI payments by linking the card with UPI-enabled apps.
• The card comes with an array of exclusive perks and rewards, including complimentary lounge access, fuel surcharge waiver, comprehensive travel insurance coverage, and an exclusive rewards program meticulously crafted for corporate entities.
• This card is targeted towards Indian professionals and businessmen who travel extensively and need lifestyle-related value-added benefits.
• It offers benefits across various categories, including travel, wellness, and lifestyle.

Question:

Q.1 What is ‘eSvarna’?
a. India’s first Corporate Credit Card on the RuPay network
b. A new digital payment app
c. A new type of savings account
d. A new loan scheme for businesses