IndusInd Bank Unveils 'eSvarna' - India's First Corporate RuPay Credit Card Linked with UPI

In a pioneering move, IndusInd Bank has launched ‘eSvarna,’ a cutting-edge corporate credit card operating on the RuPay network. This innovative card stands out as the first of its kind in India, seamlessly integrating with any UPI-supported app for convenient payments.

The eSvarna RuPay credit card simplifies transactions at merchant outlets and offers users the flexibility to make UPI payments by linking the card with UPI-enabled apps, according to a press release by IndusInd Bank dated December 26, 2023. The bank proudly positions itself as the first in the country to merge UPI functionality with a Corporate Credit Card.

Crucially, there are presently no joining or annual fees for the eSvarna RuPay corporate credit card. Tailored for business use, the card targets frequent business travellers, providing airport lounge access. Notably, it is not intended for personal expenses.

IndusInd Bank emphasizes the added benefits for corporate travellers, including comprehensive travel insurance coverage and an exclusive rewards program. Soumitra Sen, Head of Consumer Banking and Marketing at IndusInd Bank, highlights the relevance of credit cards for diverse business transactions, meeting the needs of professionals and businessmen who travel extensively.

The eSvarna credit card boasts eight domestic and two international complimentary lounge visits per year, along with a 1% fuel surcharge waiver for transactions between Rs 400 and Rs 4,000 at all fuel stations. The lost card liability insurance for the eSvarna credit card extends up to a limit of Rs 15 lakh.

It is important to note that the Reserve Bank of India has currently enabled UPI functionality on credit cards exclusively for RuPay credit cards. As a result, Visa and Mastercard credit card holders cannot currently link their credit cards with a UPI app.