LIC Cards Services Limited (LIC CSL) partnered with IDBI Bank to launch “Shagun”, a contactless prepaid LIC gift card powered by the IDBI Bank on the RuPay platform.
Aim:
To expand the gift card market and to promote cashless ways of gifting.
About ‘Shagun’ Gift Card:
i.In the initial phase, the Shagun Gift Cards will be available only for the official use of LIC and its subsidiaries and associates.
ii.This will be used to facilitate awards and special rewards during official conferences/ functions.
iii.The loading option of the card ranges from Rs 500 to Rs 10000.
iv.The card with a validity of 3 years, can be used for multiple transactions.
Features:
i.The contactless feature (tap & go) enables the user to make contactless payment at the contactless point of sale (PoS) terminal and for purchases of up to Rs 5000, the user can make payment without entering the PIN.
ii.The card gets auto linked with the mobile app “m-passbook”, and enables real-time access to transaction history, balance and others.
Recent Related News:
The Life Insurance Corporation (LIC) of India has launched Bachat Plus, a Non-Linked, Participating, Individual, Savings Plan which offers a combination of protection and savings & financial support for the family of the deceased policyholder any time before maturity.
About IDBI Bank
Incorporated as a Banking Company on 2004
CEO – Rakesh Sharma
Headquarters – Mumbai,Maharashtra
About LIC Cards Services Limited (LIC CSL):
LIC Cards Services Limited, a subsidiary of LIC, came into existence on 11th November 2008.
Headquarters– New Delhi
