The platinum card would be available exclusively by invitation from the bank and was designed to cater to the needs of the customers whose lifestyles required higher spending limits on their cards, superior levels of service and benefits.

Citibank India chief executive officer (CEO) Nanoo Pamnani said the card would carry the highest credit limit, far exceeding that of any other credit card in the market, and added that cardholders would be entitled to a free personal accident insurance of Rs one crore (in case of loss of life in an air accident) and Rs five lakh (in case of any other accident).

Citibank's new platinum card offers a delayed baggage insurance of Rs 15,000 in India and Rs 25,000 abroad (in case the checked-in baggage was not delivered within 12 hours of arrival) and lost baggage insurance of Rs 50,000 in India and up to Rs 100,000 while travelling abroad.

Citibank's platinum card also offers an insurance cover for loss of passport and ticket, missed connection flight insurance, household insurance cover and purchase protection, Citibank said and added that the card was valid internationally, thus enabling card members to use it at over 16 million establishments across the world.

The bank said it plans to establish a prioritised service delivery channel for all platinum cardholders in order to provide superior levels of service.