Indian Bank, the public sector lender has launched a new product targeting the corporates and small and medium enterprises. The product is titled Visa Business Card.

The card bring with it all the benefits of global cards along with free insurance benefit, and is priced competitively, the bank said.

The interest free period with these cards is of 45 days and revolving credit facility is provided with the card on payment of 10% of the total bill outstanding.

The bank, headquartered in Chennai has also brought up ATMs for the Regional Rural Banks (RRBs) that it sponsors so as to cater to the needs of the rural customer base of the bank.

Both the cards were formally launched at a function by Chairman of Cavin Kare India Ltd C K Ranganathan.

Indian Bank Chairman and Managing Director Sundara Rajan said, "After achieving 100 per cent CBS for all the three RRBs, the Bank is now launching the Co-branded ATM cards. This will enable rural customers to avail of 24x7 services".

The bank has set foot in the credit card business in 2006 and has since then brought three card variants in the personal segment namely Global Gold and Classic Card and Bharat Card.