IDBI Bank and LIC Cards Services (LIC CSL) have launched a contactless prepaid gift card ‘Shagun’ on RuPay platform. Its aim is to expand the gift card market with an intent to promote cashless ways of gifting, thereby presenting a wide range of end-use choices. Eyeing a future foray into the market of e-gift cards, Shagun will be available to LIC and its subsidiaries/associates for official use in the initial phase. The card will be used to facilitate awards and special rewards during official conferences/ functions.
The card will provide users the freedom to make purchases at various merchant locations, including departmental stores, petrol pumps, restaurants, jewellery and apparel stores. They can also shop online, pay utility bills, book tickets for air, rail,bus through various mobile wallets and e-commerce portals or apps using this card.
IDBI Bank is the youngest, new generation public sector universal bank that rides on a cutting edge Core Banking platform with strong service orientation.
