Dhanlaxmi Bank, a Thrissur-based lender has entered the retail assets business launched Dhanlaxmi Bank Platinum and Gold Credit cards. A bank statement release stated premium customers will be the target.
Bank has also introduced a ‘Pay by Transaction’ billing mode for credit cards. Normally the monthly billing cycle process is followed but under this interest-free credit period will be considered for individual transactions from the day of purchase. Thus customer will get 45-day interest-free credit period on each purchase and don’t have to time the purchase based on the billing cycle.
During the launch, Amitabh Chaturvedi, MD and CEO, said for the overall growth strategy bank’s main focus will be on retail asset in view of this bank has plans to launch a number of innovative, customer-centric products in the coming financial year.
The released added, for all its credit card customers bank is offering several other benefits like 5 per cent cash back on grocery purchases, priority pass - valid for over 500 lounges and a worldwide concierge services for all its credit card customers.
Tuesday, March 30, 2010
Thursday, March 18, 2010
Various cards have made payment convenient
In current conditions when it is becoming difficult to carry big amount of cash credit card, debit card, gift card, forex card and smart card have become necessity for people.
According to data in Patna alone there are approximately 80,000 users of plastic money. A senior PNB banker said, "In about five years' time, credit card market has grown by 100% and we are looking forward to a more handsome growth in the near future.”
In Bihar, in the last five years there has been a GDP growth of 11% due to which bankers are seeing good business prospects in the state. The PNB official pointed out, "Why talk only about the past five years? There are positive signs all around of growth in investment and infrastructure sectors in the state in days to come." But if you don’t have control over your spending then you might end up spending beyond your means. In the state banks that are into credit card business are targeting the college students as their aspirant customers. Students being young and immature are more likely to be irresponsible.
To attract students banks are offering freebies and exciting offers like discount on spa treatment etc. One of the cardholder Poonam Sharma of S K Puri said, "The best part is you don't have to think much before buying and you can shop without the fear of running short of cash... It's a smarter way of shopping." In her early 30s, Sharma preferred to pay through cards at jewellery shops, boutiques and beauty salons.
Another card holder Ann Qurratulain, a 3rd year student of city's Chanakya National Law University says she can’t think of life without her credit card. Ann, who belongs to Patna, said, "For students who have to stay in a hostel and travel for training, internships and conferences on a regular basis, a credit card is a must" and added she use her credit card to buy her rail and air tickets online and thus saves both time and energy.
People, who go on foreign trips, find credit card convenient for doing money transaction. Raman Jha who runs a travel agency said, "I pay hotel bills and taxi bills and shop using my cards only when I'm in a foreign country. Forex card comes quite handy then. One can even play foreign lottery online."
However credit card technology has led to creation of many jobs with credit card issuing companies and banks as they employ customer care representatives, training positions, business technology positions etc.
As new developments and researches are being done in different technologies soon plastic money is going to become a passé. A private telecom company is going to launch e-money where you don’t even have to carry a wallet. You will be able to make payments using mobile phone. However some of the banks such as SBI, ICICI bank, etc, have launched the mobile banking and now you can even make payments of groceries through mobile phone.
According to data in Patna alone there are approximately 80,000 users of plastic money. A senior PNB banker said, "In about five years' time, credit card market has grown by 100% and we are looking forward to a more handsome growth in the near future.”
In Bihar, in the last five years there has been a GDP growth of 11% due to which bankers are seeing good business prospects in the state. The PNB official pointed out, "Why talk only about the past five years? There are positive signs all around of growth in investment and infrastructure sectors in the state in days to come." But if you don’t have control over your spending then you might end up spending beyond your means. In the state banks that are into credit card business are targeting the college students as their aspirant customers. Students being young and immature are more likely to be irresponsible.
To attract students banks are offering freebies and exciting offers like discount on spa treatment etc. One of the cardholder Poonam Sharma of S K Puri said, "The best part is you don't have to think much before buying and you can shop without the fear of running short of cash... It's a smarter way of shopping." In her early 30s, Sharma preferred to pay through cards at jewellery shops, boutiques and beauty salons.
Another card holder Ann Qurratulain, a 3rd year student of city's Chanakya National Law University says she can’t think of life without her credit card. Ann, who belongs to Patna, said, "For students who have to stay in a hostel and travel for training, internships and conferences on a regular basis, a credit card is a must" and added she use her credit card to buy her rail and air tickets online and thus saves both time and energy.
People, who go on foreign trips, find credit card convenient for doing money transaction. Raman Jha who runs a travel agency said, "I pay hotel bills and taxi bills and shop using my cards only when I'm in a foreign country. Forex card comes quite handy then. One can even play foreign lottery online."
However credit card technology has led to creation of many jobs with credit card issuing companies and banks as they employ customer care representatives, training positions, business technology positions etc.
As new developments and researches are being done in different technologies soon plastic money is going to become a passé. A private telecom company is going to launch e-money where you don’t even have to carry a wallet. You will be able to make payments using mobile phone. However some of the banks such as SBI, ICICI bank, etc, have launched the mobile banking and now you can even make payments of groceries through mobile phone.
Ahmedabad crime branch arrested two for credit card fraud
Ahmedabad crime branch arrested two persons on the charges of credit card fraud. The two accused Mayur Panchal and Shaktisinh Parmar used to dupe customers by promising new credit cards, generally golden credit cards. They used to tell customers that the golden credit card have high purchase limit so they should exchange their old credit cards with this new one. But the golden credit cards given to the customers were duplicates and the two using the old credit cards purchased electronic gadgets.
The crime branch arrested the duo on the complaint of Harshad Patel who lodged a complaint after receiving a bank statement which showed that he had made purchases worth Rs 93,000.
According to crime branch sources Parmar, used to work with Pathak Associates in CG road and would call the credit card holders and tell them about a new scheme in which their old card will replaced with new cards.
He would tell the card holder that a person from the company will visit them and replace their cards once a form is filled. At the time of visit Parmar used to replace customer’s card with duplicate golden credit cards in exchange for old ones. Crime branch PI, BC Solanki said, "Based on the complaint the two were arrested." Solanki further said, after assessing the bank statements the crime branch officials traced the duo through their mobile IMEI numbers.
The crime branch arrested the duo on the complaint of Harshad Patel who lodged a complaint after receiving a bank statement which showed that he had made purchases worth Rs 93,000.
According to crime branch sources Parmar, used to work with Pathak Associates in CG road and would call the credit card holders and tell them about a new scheme in which their old card will replaced with new cards.
He would tell the card holder that a person from the company will visit them and replace their cards once a form is filled. At the time of visit Parmar used to replace customer’s card with duplicate golden credit cards in exchange for old ones. Crime branch PI, BC Solanki said, "Based on the complaint the two were arrested." Solanki further said, after assessing the bank statements the crime branch officials traced the duo through their mobile IMEI numbers.
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