IDFC First Bank, a leader in innovative financial solutions, has launched two new credit cards – ‘Ashva’ and ‘Mayura’, under the premium credit card segment. IDFC First Ashva credit card focuses on mid-tier customers and IDFC First Mayura credit card focuses on the affluent segment.
IDFC First Ashva credit:
It is a premiere metal credit card, powered by Visa network. This new credit card combines India’s rich cultural heritage with modern sophistication.
i.This credit card is designed specifically to cater not just the financial needs of affluent customers but to elevate the luxury experiences of their customers.
ii.It is crafted with the finest metal and offers exclusive benefits like: low forex charges, and complimentary access to airport lounges, among others.
iii.It is available for eligible customers with a joining fee of Rs 2,999 including, Good and Services Tax (GST) and an annual fee of Rs 2,999 (including GST).
Key Benefits:
i.Low forex charges: The credit card levy 1% fees on foreign currency transactions.
ii.Rewards: The credit card offers 10x reward points on spends above Rs 20,000 in a statement cycle and on its customer birthday.
iii.Airport Lounge Access: The cardholders will get access to 4 domestic and 2 international lounge visits per quarter.
iv.Reimbursement on Trip Cancellation: The cardholders will get reimbursement of up to Rs 25,000 annually for non-refundable flight and hotel cancellations.
v.Entertainment Perks: It will offer buy one, get one free movie tickets with maximum Rs 400 off on the 2nd ticket twice a month via BookMyShow.
vi.Golf Privileges: The cardholders will get up to 24 rounds or lessons in a year.
IDFC First Mayura credit card :
IDFC First Bank Mayura credit card is exclusively designed to combine modern travel benefits with a design inspired by the rich Indian heritage, specifically Mayura (the peacock).
i.This new credit card is available for salaried or self-employed customers with minimum annual income of Rs 25 lakh or above.
ii.It is available for eligible customers with a joining fee of Rs 5,999, including, GST and an annual fee of Rs 5,999 (including GST).
Key Benefits:
i.Zero forex charges: The credit card charges zero forex mark-up on foreign currency transactions.
ii.Rewards: The credit card offers 10x reward points on spends above Rs 20,000 in a statement cycle and on its customer birthday.
iii.Airport Lounge Access: The cardholders will get access to 4 domestic or spa visits, including one guest visit per quarter and 4 international lounge visits per quarter.
iv.Reimbursement on Trip Cancellation: The cardholders will get reimbursement of up to Rs 50,000 annually for non-refundable flight and hotel cancellations.
v.Entertainment Perks: It will offer buy one, get one free movie tickets with maximum Rs 500 off on the 2nd ticket twice a month via BookMyShow.
vi.Golf Privileges: The cardholders will get up to 40 rounds or lessons in a year.
RBI Approved the Reappointment of V. Vaidyanathan as MD and CEO of IDFC First Bank Limited
The Reserve Bank of India (RBI) has approved the re-appointment of V. Vaidyanathan as Managing Director (MD) and Chief Executive Officer (CEO) of IDFC First Bank Limited for a period of 3 years effective from 19th December, 2024 to 18th December, 2027.
About V.Vaidyanathan:
i.In 2018, V.Vaidyanathan became the 1st MD and CEO of the merged entity, known as IDFC First Bank Limited, a bank founded by the merger of Capital First and IDFC Bank.
- In 2021, he was again appointed as MD and CEO of IDFC First Bank Limited for a period 3 years i.e. from 19th December 2021 to 18th December, 2024.
ii.He has an extensive experience in banking industry. He worked with Citibank (from 1999 to 2000) and ICICI Bank (2000-2010).
iii.He played an important role in setting up of ICICI Bank’s Retail Banking Division and later served as MD and CEO of ICICI Prudential Life Insurance in 2009.
About IDFC FIRST Bank Limited:
Managing Director (MD) and Chief Executive Officer (CEO)– V. Vaidyanathan
Headquarters- Mumbai, Maharashtra
Tagline- Always You First
Established -2018
