Foreign lender, Standard Chartered Bank has introduced the first cash management tool for its customers in the name of SME Banking World Debit Card. The card is targetted towards offering rewards as well as convenience and savings to small and medium enterprise (SME) customers.

All SME customers having an account with the bank will be offered this card.

"The card is a feature of Standard Chartered's strengthened SME Banking offering launched last year," said the bank in a release.

The card has been specifically designed to offer different limits for different cardholders. Apart from this, it is possible now for a customer to get a debit card for every account he has which increased convenience and flexibility.

It has a maximum spend limit of Rs 5 lakh so as to meet business needs. The card also has international payment access with payments allowed at more than 30 million locations globally and cash withdrawal from more than 1 million ATMs all over the world.

Apart from this, complimentary privileges are also offered like Kingfisher Airlines King Club membership, Accor Hotel offers, Hertz Club membership, MasterCard Moments (exclusive offers for spas, golf, wine clubs and tours) and a host of other local privileges pertaining to travel, stay, business solutions, communications and office support.

"The strengthened SME banking offering aims to seamlessly meet the evolving financial needs of India's fast growing SMEs and power their aspirations for growth in the Indian and international markets," Standard Chartered Bank SME Banking India General Manager Rakesh Singh said.