Kerala-based mid-size private sector lender Dhanlaxmi Bank entered the gift card space, which can be used at over 4.5 lakh merchant outlets.
The Dhanlaxmi Bank gift card is a rupee-denominated, pre-paid, non-reloadable card, bank’s alternate channels head Anand Gupta said in a release.
“The launch of the gift card will further strengthen our product suite tailored to meet diverse customer needs” he added. The card can be loaded with a minimum of Rs 500 and and thereafter in multiples of Rs 100 to maximum of Rs 50,000 for individuals.
The Thrissur-based bank has 275 branches and 454 ATMs across 136 centres spanning 14 states. Its deposits were at Rs 9,497 crore with advances at Rs 7,057crore and an asset base of Rs 11,400 crore as of end September.