Thomas Cook Press Office: 02266091380
Thomas Cook India partners with RBL Bank (Ratnakar Bank)
-to increase distribution for its multi-currency Borderless Prepaid Card via
the RBL Bank network of over 185 branches-
Mumbai, September 18, 2014: Thomas Cook (India) Ltd., India‟s leading integrated travel and travel related financial services company, announced its partnership with RBL Bank (also known as Ratnakar Bank), to distribute its innovative multi-currency Borderless Prepaid Card via the bank‟s 185 branches across India; offering India‟s outbound consumers enhanced access and convenience.
The collaboration expands the reach of Thomas Cook India‟s Borderless Prepaid Card via the extensive network of RBL Bank, across India‟s metros, mini metros, emerging Tier II & III regional markets and rural India.
The Borderless Prepaid Card offers travellers the advantage of loading up to eight currencies on a single prepaid card (US Dollars, British Pounds, Euro, Australian Dollars, Canadian Dollars, Swiss Francs, Singapore Dollars & Japanese Yen); thus empowering the cardholder with immediate access to destination currency. Unique consumer-centric features on the card include instant loading; emergency cash disbursement and free replacement card in case stolen or lost and 24x7 global emergency assistance via toll free access in over 80 countries. The chip and pin features of the Borderless Prepaid Card safeguards the security of the traveller, ensuring smooth travel across countries.
Mr. Ritesh Pai, Senior Vice President and Head – Direct Banking Channels, RBL Bank said, “RBL Bank is privileged to be a part of the distribution network of this pioneering innovation. The Thomas Cook India and MasterCard joint-invention of the EMV Compliant Borderless Prepaid Card will be of substantial benefit to India’s tech-savvy and new-age travellers. With increasingly large number of Indians commuting abroad for the purpose of business, leisure and education, a single card with provisions for 8 currencies will certainly increase travellers’ convenience and enhance security as well. We will leverage our bank’s network of branches across the country to market this outstanding product to a large number of our patrons.”
Commenting on the partnership, Mr. Mahesh Iyer, COO, Foreign Exchange, Thomas Cook (India) Ltd. said, "Thomas Cook India is truly delighted to partner with RBL Bank, one of India’s fastest growing commercial financial institutions, to offer India’s outbound travellers easy access to our unique Borderless Prepaid Card. Our collaboration with RBL Bank takes our legacy as innovators & pioneers in the travel and payment solutions business a definite step forward.”
RBL Bank has been regarded as one of the fastest growing scheduled commercial banks in the country with a reach of over 185 branches and 370 ATM‟s across India. It has also been awarded "India‟s Best Bank (Growth)” in the mid-sized banking segment, as per a study conducted by Business Today - KPMG for two consecutive years in a row – 2012 and 2013. Serving a clientele of over 700,000 consumers and having infused capital of over Rs. 1500 crores from some of the most noteworthy domestic and international investors, RBL Bank today manages a business of more than 20,000 crs.
About Thomas Cook (India) Limited:
Thomas Cook (India) Ltd (TCIL) is the leading integrated travel and travel related financial services company in the country offering a broad spectrum of services that include Foreign Exchange, Corporate Travel, MICE, Leisure Travel, Insurance, Visa & Passport services and E-Business. The company set up its first office in India in 1881.
TCIL‟s footprint currently extends to over 233 locations (including 22 airport counters) in 99 cities across India, Mauritius & Sri Lanka and is supported by a strong partner network of 112 Gold Circle Partners and 112 Preferred Sales Agents in over 136 cities across India.
ICRA has reaffirmed long term rating of „ICRA AA-/ Stable‟ assigned to Thomas Cook (India) Ltd‟s non convertible debenture programme. CRISIL has reaffirmed long term rating of CRISIL AA-/ stable outlook to the non convertible debenture programme and banking facilities and short term rating of CRISIL A1+ to TCIL‟s banking facilities.
Thomas Cook (India) Ltd has been voted Best Tour Operator at the Lonely Planet Travel Awards 2013, Favourite Specialist Tour Operator at the Condé Nast Traveller Readers' Travel Awards 2013 & 2012 and Best Tour Operator - Outbound at the CNBC AWAAZ Travel Awards 2013. In addition, TCIL has been chosen as the Best Corporate Travel Management Company by World Travel Brands 2012, and recognized as a “Consumer Superbrand” 2012-2013. At the National Tourism Awards 2012-2013, TCIL was the recipient of 3 prestigious awards. Thomas Cook India‟s Centre of Learning has received IATA accreditation as “Top 10 South Asia IATA Authorized Training Centers”, 2013 & 2012. For more information, please visit www.thomascook.i
Thomas Cook (India) Limited is promoted by Fairfax Financial Holdings Limited through its wholly-owned subsidiary, Fairbridge Capital (Mauritius) Limited. Fairbridge is responsible for the execution of acquisition and investment opportunities in the Indian subcontinent on behalf of the Fairfax family of companies.
About Fairfax Financial Holdings Limited:
Fairfax Financial Holdings Limited is a Toronto-based financial services holding company with a global presence in insurance and reinsurance and a portfolio of assets in excess of $38 billion invested worldwide. The Company, founded in 1985 by the present Chairman and Chief Executive Officer, Prem Watsa, has over the past 25 years, demonstrated a strong financial track record to achieve an annual appreciation in Book Value per Share of 24.7% annually.
Fairfax has almost 20 general insurance subsidiaries and joint ventures globally, including ICICI Lombard (India).
Fairfax is engaged in long term investments from its own resources, with a focus to delivering long term capital appreciation through a flexible and value oriented approach.
Fairfax Financial Holdings through Thomas Cook (India) Ltd. owns 74.85% on a fully diluted basis of the IKYA Group, a provider of specialised Human Resource related Services and 55.14% of Sterling Holiday Resorts (India) Ltd, engaged in time share and resort business and holiday activities.
About IKYA Group
The IKYA Group, established in 2007, has over the last 6 years, evolved into a diversified provider of Business Services with interests in Human Resources (Recruitment & General Staffing), IT Staffing & Services, Facilities Management, Food & Hospitality services and Training & Skill Development through a combination of organic and inorganic methods. The Group operates out of 33 offices across 22 cities and employs 80,000 personnel. For more information visit: http://www.ikyaglobal.com/
About Sterling Holiday Resorts (India) Limited:
Sterling Holiday Resorts (India) Limited, a pioneer in vacation ownership and a leading leisure hospitality company in India, was incorporated in 1986 with the vision of delivering great holiday experiences to Indian families. Sterling Holidays‟ network includes 1512 rooms across 19 resorts in 16 scenic holiday destinations pan India. The company also has 15 additional sites where it plans to add new resorts in the coming years. For more information visit: www.sterlingholidays.com
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