Banking

Standard Chartered partners with Asia Miles

Standard Chartered Bank entered into an agreement with Asia Miles to offer its Gold Credit Cardholders even more redemption options on their Bonus Points program. Cardholders can now convert their Bonus Points to Asia Miles.

"We are delighted to partner with Asia Miles. Cardholders can now earn Asia Miles on their day to day purchases with the Standard Chartered Gold Credit Card. Asia Miles has numerous items available for redemption.

Members can choose from flights and holiday packages to electronic items and lifestyle awards. We are confident that this will be much appreciated by our cardholders as it enhances the value proposition of the Bonus Points program.

We believe being the right partner to our customers and this is yet another initiative in rewarding our Cardholders," said General Manager, Retail Banking Products, Sheahan Arasaratnam.

The bank's Bonus Points programme offers true value to cardholders and has gained much popularity in the market.

Every Rs. 100 spent on purchases both locally and overseas is rewarded with one Bonus Point. Cardholders have the privilege of earning one full rupee for every Bonus Point earned.

Now with the addition of Asia Miles, Standard Chartered Gold Cardholders can opt to redeem the accumulated bonus points for Asia Miles. One Bonus point will equal One Asia Mile.

Asia Miles is Asia's leading Travel Reward Programand has more than 300 partners worldwide in nine partner categories: airlines, finance and insurance, hotels, telecoms, cars and transport, retail, dining, travel and leisure as well as professional services.

"Asia Miles has been working with Standard Chartered for many years and in over five countries.

We are delighted to extend this partnership to Sri Lanka which will offer Standard Chartered Gold Credit Cardholders yet another option for earning and redeeming Bonus Points.

I'm sure with the ease of earning Asia Miles and given our wide range of 400 redemption items available for redemption, cardholders will be very pleased," said General Manager, Asia Miles, Paul Loo.

The Standard Chartered Cardholders will also continue to enjoy the privilege of redeeming their Bonus Points at a range of participating establishments including ODEL, Arpico Super Centers and Superstores, Hameedia, Mondi, Addidas, NOLIMIT, Beverly Street, Exclusive Lines, Stone N String, selected restaurants at the Hilton Colombo, Trans Asia, Cinnamon Grand, The Mango Tree, 168 Seafood Palace, Pizza Hut, Angsana City Club and spa, The Sanctuary Spa, Alpha Orient, Vijitha Yapa, Triumph etc.

Additionally cardholders could even use the Bonus Points they earn to help a less fortunate person enjoy the gift of sight by donating them to Standard Chartered Bank's 'Seeing is Believing' project.

Points donated will be used to fund cataract operations for those who cannot afford the surgery.

Lankaputhra assists Roman Catholic school

The Lankaputhra Development Bank has come forward to provide essential services to an underprivileged Roman Catholic school at Walagama in the Kegalle District.

The initiative to make available financial resources to the Roman Catholic School, was launched recently through the Kegalle branch of the Lankaputhra Development Bank Manager of the Branch, Udula Bandara presented the cheque for the amount to the Principal Hemantha Wijesiri.

A student of the Walagama Roman Catholic School won the first place in the primary section in the Lankaputhra Diriya Daruwo art competition held recently. The aim of the current initiative is to encourage talented students of schools which operate under difficult conditions.

The staff attached to the Kegalle branch of the Bank also felicitated the teachers who encouraged the students to participate in the art competition.

The Principal and the teachers were presented with a Guru Guna felicitation plaque.

A special award was presented to the Art Teacher who was the moving force behind the competitors.

Lankaputhra Development Bank is a fully State owned bank exclusively set up to boost small and medium scale entrepreneurs.

Reserve Bank opts for pause in reductions

Indian bond yields, which have rebounded from a record low touched earlier this month, indicate traders have scaled back bets for an interest-rate cut, according to ICICI Securities Ltd.

The Reserve Bank of India may today opt for a pause in reductions as policy makers consider past measures as sufficient to bolster the economy, said Prasanna Ananthasubramaniam, a Mumbai-based primary dealer that underwrites Government debt sales. Ten-year yields touched an all-time low of 4.85 percent on Jan. 5 as the central bank cut its benchmark rate four times in less than three months. Yields have jumped almost one percentage point since.

Bloomberg

ComBank extends 365-day banking in Kandy

The Commercial Bank of Ceylon has opened its 170th branch in Kandy.

The new branch known as the Kandy City Office will be open every day of the year from 10.00 a.m. to 7.00. p.m.

With the opening of this new branch, Commercial Bank becomes the first bank to provide the full range of banking services on a 365-day basis in the Hill Country capital.

The new branch is linked to all other Commercial Bank branches and Supermarket Banking Counters islandwide permitting online real-time banking.

It is also equipped with two ATMs linked to 334 ATMs of Commercial Bank, over 1,000 other ATMs locally and over one million ATMs belonging to the Cirrus and Visa networks islandwide.