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IDBI Bank and LIC Card Services Ltd (LIC CSL) Launches Co-branded RuPay Prepaid Gift Card ‘Shagun’

In Business
June 18, 2021

IDBI Bank as part of on-going business synergies arising out of the partnership with LIC of India and its subsidiaries, has launched contactless co-branded RuPay Prepaid Gift Card ‘Shagun’ in partnership with LIC Cards Services Ltd, a fully owned subsidiary of LIC of India.

The purpose of this card is to expand the Gift Card base and digital foot print of the Bank while also promoting cashless ways of gifting and present a wide range of end-use choices and in future foray into the market of e-Gift Cards.

During the launch event, Rakesh Sharma, MD & CEO, IDBI Bank said, “In continuum with our on-going business synergies with LIC, we are glad to also have NPCI and LIC Cards Services Ltd as partners on-boarded for this initiative. This product has been curated keeping in mind the distinct privileges for the cardholders as well as the convenience of the contactless payment feature.”