Prepaid Gift Card by LIC IDBI Bank

19 June 2021 Current Affairs:LIC Cards Services (LIC CSL) launched a new contactless prepaid gift card, named ‘Shagun’, in collaboration with IDBI Bank on the RuPay platform. The motive of this prepaid card is to amplify the gift card market with an intent to promote cashless approaches of gifting and existing a extensive vary of end-use choices & in a future foray into the market of e-gift cards. NPCI partnered with LIC CSL and IDBI Bank for the launch of the Shagun Prepaid Gift Card on RuPay network.

About the card:
♦ Shagun card, in the preliminary phase, will be handy to LIC and its subsidiaries for official use. The card will be used to facilitate awards and distinctive rewards at some point of legit conferences and functions.
♦ The Shagun present card presents customisation in the shape of flexible loading of any quantity ranging from Rs 500 to Rs 10,000. With this card, the client can function multiple transactions inside the validity of three years.
♦ They can also use it to shop online, pay utility bills, book tickets for air, rail, bus, and so on via a number of mobile wallets and E-commerce portals or apps using this card. The contactless (tap & go) feature of the card is aimed at transforming the transaction journey for users.

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