Itz Cash Card, DCB Bank and Visa launches Freedom Prepaid Card

The Freedom Prepaid Card is a multi-purpose card that can be issued to under-banked and unbanked individuals.

Itz Cash Card Limited - India’s leading prepaid card company, Development Credit Bank Limited - India’s leading emerging private sector bank and Visa - the leading payments technology company launched the Freedom Prepaid Card, India’s first multi-purpose Prepaid Card.
 
The Freedom Prepaid Card is a multi-purpose card that can be issued to under-banked and unbanked individuals. The Freedom Prepaid Card can be purchased at any Itz Cash World outlet, after completing a one-time registration.

Cardholders can then use the Freedom Prepaid Card to make purchases in store, pay bills and book tickets online, as well as withdraw cash at any ATM that accepts Visa. The Freedom Prepaid Card provides unrivalled convenience, security, and enables cardholders to better manage their cash.
 
Expressing delight on the launch of Freedom Prepaid Card, Naveen Surya, managing director, Itz Cash Card Ltd. said, “We are proud to present a unique “first co-branded open loop prepaid card.”

Speaking on this occasion, Murali M. Natrajan, managing director & CEO of DCB Bank said, “We are excited about this partnership and delivery platform as DCB Bank has a strong commitment to financial inclusion and we believe the DCB ItzCash Freedom Prepaid Card is a very innovative and powerful step towards empowering the urban unbanked segment.”
 
Uttam Nayak, group country manager - India and South Asia, Visa, said, “We are pleased to be an integral part of this first of its kind multi-purpose prepaid card in India. Freedom Prepaid Card is extremely versatile and provides the cardholder with an easy-to-use, extremely secure and widely accepted product. Innovative products like the Freedom Prepaid Card can play a crucial role in driving inclusive growth across the country, by enabling many Indians to enter the formal financial system and benefit from the convenience and security of electronic payments, while driving more transparency and efficiency within the payments system.”
 
The key attributes of Freedom Prepaid Card include:
Convenience  - simple to use and easy to pay for purchase of goods and services at over 5 lakh merchant outlets in India, including online, point of sale terminals and ATMs that accept Visa.

Security - enables cardholders to load the card and carry their cash in a safe manner rather than carry or store cash at homes. Furthermore, cardholders can avail of all security features provided by Visa on their prepaid products.
Control - helps better cash management and controlling spends with clear track on the budget.

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SBI MF launches SBI Tax Advantage Fund - Series II

SBI Tax Advantage Fund - Series II new fund offer closes 21 March 2012

SBI Mutual Fund has launched SBI Tax Advantage Fund, a close-ended ELSS scheme.

The investment objective of the scheme is to generate capital appreciation over a period of ten years by investing predominantly in equity and equity-related instruments of companies across large, mid and small market capitalization, along with income tax benefit.

The new fund offer closes on 21 March 2012. The minimum investment amount is Rs500.

The scheme would be benchmarked against BSE 100. Jayesh Shroff is the fund manager.

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COMMENTS

khalid

5 years ago

Would you please explain how to exit such funds ?

Thanks

Online shopping grows 18% in India in last 12 months

Coupons, consumer electronics and comparison sites are the top three most popular sites in India with coupon sites witnessing a growth of 629% during last year

Nearly 60% of online users in India visited a retail site in November 2011, with the number of online shoppers increasing 18% in the past year said comScore in a research report.

“The online channel is playing an increasingly important role in connecting retailers with potential customers in India. The rapid growth of online coupon sites suggests that consumers in India are looking for deals, highlighting the need for online retailers to adopt effective marketing and pricing strategies for their goods,” said Kedar Gavane, comScore director for India.

According to the report on visitation to the top retail and coupon sites in India, coupon sites are rapidly gaining in popularity, with 16.5% of the Indian online population visiting the category in November, led by Snapdeal.com and Mydala.com.

In November, 27.2 million online users in India, aged 15 and older, accessed the retail category from a home or work computer, an increase of 18% from the previous year, as consumers continue to turn to the web to shop for and purchase items and retailers continue to increase their online visibility through active marketing campaigns.

Analysis of some of the largest retail sub-categories revealed that coupons were the largest with 7.6 million visitors, an increase of 629% from the previous year as consumers rapidly adopt daily deal sites. Consumer electronics ranked next with 7.1 million visitors growing 12% from the previous year, while 5.8 million online users visited comparison shopping sites, an increase of 25% from the previous year.

 
Amazon sites led as the top retail destination in India reaching 6.8 million visitors, representing 14.7% of the online population. Apple.com worldwide sites saw its audience reach 3.4 million visitors, followed by the Samsung Group with nearly 2.8 million visitors. Other top retail destinations included Flipkart.com (2.7 million visitors), HomeShop18.com (2.3 million visitors) and Naaptol.com (2.1 million visitors).
 
*Excludes visits from public computers such as Internet cafes or access from mobile phones or PDAs

During November, 7.6 million Indians visited coupon sites, representing 16.5% of the total Internet users in the market. Snapdeal.com led the category with 5.2 million visitors, followed by Mydala.com with 1.4 million visitors and Crazeal.com with nearly 1 million visitors, the report said.
 
*Excludes visits from public computers such as Internet cafes or access from mobile phones or PDAs

“To take advantage of this growing opportunity, retailers must ensure they are addressing the needs of potential customers, which include attractive pricing and the convenience of ordering online,” Mr Gavane added.

The e-commerce market is estimated to grow to $24 billion by 2015 from $6.3 billion now.  Given the pace at this sector is growing and getting funded, this decade could well belong to the e-commerce industry in India, according to a study by financial services firm Avendus.

The Indian government plans to invest Rs20,000 crore to build a national fibre optic network as part of its National Broadband Plan, which will provide a further fillip to the growth of Internet usage in the country. It is expected that the number of unique Internet users in India will grow five times to reach 376 million by 2015.

 

 

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COMMENTS

rahul

5 years ago

Ya its really true online shopping is increasing very rapidly in india .

best deals in tricity

5 years ago

In today's hustle and bustle nobody really has time to shop every little thing from a store. That's why I believe the % of online shopping has risen.

Bestpricebid

5 years ago

Thanks for giving that type information regarding online shopping growing percentage in las 12 months in india.That information is so helpful to us.Will be visit again on your website.Bestpricebid provides best bid sites, Online free bidding, Mobiles shopping site, Mobile rates, Top auction shopping websites in Chandigarh India.

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