MahaBank to issue 1 lakh 'family cards'

Bank of Maharashtra will issue one lakh 'Family banking card' by the end of the current fiscal. The bank has so far issued 20,000 such cards.

The bank has also decided to set up a data warehousing centre at Pune with an initial investment of Rs 30 crore. "The family banking card concept was launched this fiscal. So far we have distributed over 20,000 such cards across the country. We are optimistic of distributing another 80,000 such cards by the end of this fiscal. We target to issue another one lakh cards in the next fiscal," said a source close to the bank.

The card has a customer identification number on it. Also, the family details of the customer are saved in the card for ready reference at any of the bank's branches.

The card holder will be treated as a 'privilege customer' of the bank. The card will shorten the documentation process while opting for any of the bank's services.