Current Affairs PDF

IOCL in Partnership with SBI Launches  ‘IndianOil – SBI Co-branded RuPay Debit Card’

AffairsCloud YouTube Channel - Click Here

AffairsCloud APP Click Here

SBI IOCL launch contactless RuPay debit cardOn January 7, 2021 Indian Oil Corporation Limited(IOCL) in partnership with State Bank of India (SBI) launched ‘IndianOil – SBI co-branded RuPay Debit Card’. This contactless card can be used anywhere in India.

Key People

The card was launched by Mr. Shrikant Madhav Vaidya, Chairman of IndianOil and Mr. Dinesh Kumar Khara, Chairman of SBI, in a virtual ceremony.

Key Features of the Card:

Pay with a tap

The single transactions up to Rs. 5000 can be paid with a tap.

Fuel benefit

On purchase of fuel at IndianOil fuel stations, the card holder can earn loyalty points worth 0.75%

There is no monthly limit to purchase fuel.

Reward Points

i.The card holder can earn  6X reward points for every Rs. 200 spent at IndianOil fuel stations

ii.In addition to this, reward points can also be earned on spending on dining, movies, etc.,

iii.Reward points can be redeemed for dining, movies, grocery and paying utility bills


A customer to get the card needs to visit the SBI’s home branch

General Info:

SBI, India’s largest bank, has the largest number of debit cardholders in India.

Recent Related News:

On November 17, 2020 YES Bank launched ‘YES BANK Neokred Card’, a Co-Branded Prepaid Card in partnership with Neokred Technologies to encourage cashless payments.

About Indian Oil Corporation Limited (IOCL):
Chairman– Shrikant Madhav Vaidya
Headquarters– New Delhi, Delhi

About State Bank of India (SBI):

Founded– July 1, 1955 as SBI
Headquarters– Mumbai, Maharashtra
Tagline– The banker to every Indian; With you all the way; Purely banking nothing else; The nation banks on us; A bank of the common man
Chairman–  Dinesh Kumar Khara(Succeeds Rajnish Kumar)