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BOB Eterna is now becoming a most popular choice credit card

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J

jetesh

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BOB Eterna credit card has seen a significant rise in demand recently due to several attractive features:

1. With the recent launch of the Rupay network, BOB Eterna is becoming a popular choice in super premium credit card segment.
2. BOB Eterna offers the highest number of lounges.
3. Unlimited Domestic Lounge Access. ( min spends criteria : Rs 40,000 per quarter )
4. International lounge access will also be announced soon.
5. Best Reward Points. 15 rewards points per Rs 100 on online shopping, dining, travel and international spends.
6. Plus, BOB Eterna annual fees are lower compared to other banks’ credit cards in the same segment.
7. And achieving a fee waiver is a breeze !
8. Foreign Exchange Mark-up fee of 2%.
9. Buy 1 Get 1 Free Movie ticket via Paytm
10. Welcome Gift of FitPass Pro Membership worth Rs. 15,000.
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Abhishek012 said:
Dude, This is not just about domestic or foreign companies. It's also about Indian currency.

If you make a foreign transaction using a RuPay card, the payment is received by the other country in Indian Rupees, which they will then use for trade with India.

And this is just a small step.

Once this cross-border local currency system is fully developed, we will start doing large-scale trade in INR, which will be facilitated by India's SWIFT alternative - SFMS and INFINET.

Here's an interesting point -

You might have often heard people saying that these or that guys are traveling abroad or getting married in Turkey, spending money in another countries.

You know, the problem isn't with getting married in Turkey or traveling abroad. The problem is that when you trade using Visa/Mastercard, you end up strengthening the US dollar and weakening our own INR.

If you make payments using RuPay/UPI in INR, that country will accept Indian Rupees and later trade with us.

This will elevate India to the position where the US, Europe, and China are today. The entire world will use Indian Rupees and trade with us.
And not just that, countries will also trade with each other in Indian Rupees.

Imagine if banks in Bhutan and Sri lanka are connected through RuPay/UPI/SFMS/INFINET in the future, they can trade with each other in their local currencies through Indian Rupees.

For example, currently when we buy something from China, we currently pay in Chinese currency. But first, we convert our INR to US dollars, and then US banks convert those US dollars into Chinese currency and give it to them.

If you ever wonder why countries would trade or conduct transactions using the Indian payment system, it's because the transaction fees of the Indian payment system are 50% cheaper than those of Visa, Mastercard, or SWIFT,

Read this - WTO: USA use veto power & opposing UPI to reduce the cost of cross-border remittances - https://www.technofino.in/community...e-the-cost-of-cross-border-remittances.25176/

In the end, I would just say that the dream I mentioned above will only be possible if more and more people use RuPay/UPI.

I remember, around 2015, the former CEO of NPCI said that the success of the RuPay card depends on the support of the Indian people. It will only succeed if people support it.

Today, Europe regrets selling Euro Card. When the topic of creating a domestic European card network came up again, the shareholder banks gave up, saying they could no longer do it.

@_amit_
Click to expand...
Card networks does not make a currency strong.

The reverse might have some basis though, i.e. a strong currency may make a card network have more customer, if that card network has some potential.
 
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_amit_ said:
Card networks does not make a currency strong.

The reverse might have some basis though, i.e. a strong currency may make a card network have more customer, if that card network has some potential.
Click to expand...
You pay only through cards and other payment networks, when you visit any foreign country.

Visa/mastercard use US dollar.

RuPay/UPI use Indian rupee.

The more people use RuPay/UPI, the Indian Rupee will continue to strengthen.
 
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Abhishek012 said:
You pay only through cards and other payment networks, when you visit any foreign country.

Visa/mastercard use US dollar.

RuPay/UPI use Indian rupee.

The more people use RuPay/UPI, the Indian Rupee will continue to strengthen.
Click to expand...
Again not how currency works.
This oversimplification of how a currency becomes stronger is misleading.

Accessibility is simply facilitation of the base feature.
 
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_amit_ said:
Again not how currency works.
This oversimplification of how a currency becomes stronger is misleading.

Accessibility does not mean empowerment.
Click to expand...
I have already explained this in a previous comment.

The US dollar is strong because of Visa/Mastercard and SWIFT but

It is also true that the US Dollar is not strong solely because of Visa/Mastercard and SWIFT.

But a significant portion does contribute to making the US Dollar a strong currency due to Visa/Mastercard and SWIFT.

And that's also a reason why the Indian Rupee becomes weaker.

The day people stop using Visa/Mastercard and SWIFT, the US dollar won't remain as strong currency.
 
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_amit_ said:
Card networks does not make a currency strong.

The reverse might have some basis though, i.e. a strong currency may make a card network have more customer, if that card network has some potential.
Click to expand...
If the Rupay network card is recognized and widely used across the globe, it could significantly enhance the visibility of Indian businesses and drive foreign investments. This, in turn, would be a substantial boost for the Indian economy.
 
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neo.puneet said:
are you really saying that if normal people like us stop using visa/mc then the usd will no longer be the reserve currency?
Click to expand...
LOL.. No, 🤣🤣

The USD will remain a reserve currency, but India will reduce its use. This will help in lowering the inflation rate. The countries that trade with India will start accepting INR once a cross-border local currency mechanism is established. Then India can use its own SWIFT alternatives like INFINET and SFMS.

This requires time and patience. Don’t expect that if you stop today, everything will change by tomorrow. The shift happens gradually, it’s possible that by 2060-2070, India could conduct most trades in INR.

There’s nothing wrong with keeping the USD as a reserve currency, but we need to focus on using INR as much as possible instead of over-relying on the USD.

Now, after all this happens, what I said is that the US dollar won’t remain a strong currency. When this starts happening, it’s possible that India might stop keeping the USD as a major reserve currency.

Currently, Better to keep more USD in reserves but just reduce its usage. For the next 40-50 years, this is what needs to be done.

@SSV
@Swastik
 
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Abhishek012 said:
LOL.. No, 🤣🤣

The USD will remain a reserve currency, but India will reduce its use. This will help in lowering the inflation rate. The countries that trade with India will start accepting INR once a cross-border local currency mechanism is established. Then India can use its own SWIFT alternatives like INFINET and SFMS.

This requires time and patience. Don’t expect that if you stop today, everything will change by tomorrow. The shift happens gradually, it’s possible that by 2060-2070, India could conduct most trades in INR.

There’s nothing wrong with keeping the USD as a reserve currency, but we need to focus on using INR as much as possible instead of over-relying on the USD.

Now, after all this happens, what I said is that the US dollar won’t remain a strong currency. When this starts happening, it’s possible that India might stop keeping the USD as a major reserve currency.

Currently, Better to keep more USD in reserves but just reduce its usage. For the next 40-50 years, this is what needs to be done.

@SSV
@Swastik
Click to expand...



Okay, here is what Google matha says about this dialouge.....

1728497689860.webp


Complete video...

 
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SSV said:
For Non- Telugu Audience...translation ... @HumorSimpson ... Thanks
Click to expand...
The Simpsons Flute GIF



Play flute in front of a 🦌
Not in front of a 🦁
 
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neo.puneet said:
are you really saying that if normal people like us stop using visa/mc then the usd will no longer be the reserve currency?
Click to expand...
Forget whether USD becomes a reserve currency or RuPay becomes a global settlement medium.

I am in favour of using RuPay at all possible places. Because, it is Indian.

And, I do not want India to pay - in USD - to Visa/MC/AmEx - as commission for all my trxns done locally.

Why should Visa/MC/AmEx get a commission/cut from my trxn done locally for ordering food from a local restaurant. That too in USD ?

I have started using RuPay cards to the max. I will continue to do so.
 
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