The pre-paid gift card launched by the Central Bank of India can be pre-loaded only once with any value between Rs 500 and Rs 50,000 and will be sold only at select branches. The card will be accepted by all retail stores across India displaying the Mastercard signage.
The Central Bank of India has launched a pre-paid gift card which can be pre-loaded only once with any value between Rs 500 and Rs 50,000 and will be sold only at select branches. The card will be accepted by all retail stores across India displaying the Mastercard signage and can also be used for online and Mail Order Telephone Order transactions. The bank announced that there will be a dedicated Web site for the gift card and customers can check the card balance through the Internet or mobile phone.
Speaking to reporters at the launch, Mr S. Sridhar, Chairman and Managing Director said that the bank is targeting a credit growth of 20 per cent for the year and a deposit growth of 23 per cent. He added that as of September, the bank is expected to have an annual credit growth of 18 per cent and that the bank would now focus more on retail clients as well as development of rural banking. He also said that the bank had been focussing on the corporate sector for the last few years and the launch of gift card signalled its re – entry into the retail sector.