Page 21 - Banking Finance October 2024
P. 21

PRESS RELEASE

                           Paisabazaaar launches PaisaSave Credit Card



         The PaisaSave Credit Card is designed to reward frequent  The card has no joining fee, and the annual fee of INR 499
         shoppers by offering substantial cashback on everyday  can be waived off from the second year if users meet the
         purchases, both online and offline, making it a must-have  spending threshold of INR 1.2 lakh per annum in the
         for the value-conscious customers.                   preceding year, making the PaisaSave Credit Card highly

         Key features of the PaisaSave Credit Card include:   cost-effective for regular shoppers.
             Cashback* of 3% on online purchases across popular  Mr. Anil Singh, Country Head - Credit Cards and Merchant
             platforms including Amazon, Myntra, Flipkart, Nykaa,  Acquiring,  YES  BANK,  said,  “Our  partnership  with
             Swiggy, Zomato, Tata Cliq, Ajio, among others    Paisabazaar aims to offer a credit card that meets the
                                                              everyday needs of today’s consumers. The PaisaSave Credit
             After reaching a monthly cashback limit of INR 5,000
                                                              Card provides cashback benefits for both online and offline
             on online transactions, users will continue to earn 1.5%
                                                              transactions, helping customers save more on their regular
             cashback* on further online purchases
                                                              purchases. By combining YES BANK’s financial expertise with
             Unlimited 1.5% cashback* on all offline purchases,  Paisabazaar’s digital  reach,  we’ve  created  a  simple,
             including in-store transactions
                                                              effective  solution  to  enhance  the  overall  banking
             Fuel surcharge waiver of 1%* at all fuel stations  experience for our users.”
         The PaisaSave Credit Card provides an easy way for   Mr. Naveen Kukreja, Co-founder & CEO, Paisabazaar, said,
         customers to save as they spend, especially on online  “Our co-created strategy continues to evolve as we deepen
         transactions where cashback is accelerated to 3%. Whether  partnerships across the ecosystem and strengthen our
         shopping on popular e-commerce sites or paying at physical  pipeline of superior, digital-only products that meet need
         stores, the card ensures consistent savings through its  gaps across consumer segments. Our latest offering with
         unlimited cashback feature.                          YES BANK is another step in that direction. Our co-created
         Additionally, customers can opt for a virtual YES BANK Rupay  card PaisaSave has been designed for the new and young
         Credit Card while applying, enabling them to make UPI  Bharat, making online purchases a rewarding experience
         payments seamlessly, further expanding the card’s utility.  for this aspirational and digital-savvy segment.”


             ICICI Bank in collaboration with PFRDA launches NPS Vatsalya, a


                                        pension account for minors
         ICICI Bank today announced the launch of NPS Vatsalya, a pension scheme aimed at securing the financial future of
         children, at its service centre at BKC in Mumbai, Maharashtra.
         The new pension scheme, which will run under the aegis of Pension Fund Regulatory and Development Authority (PFRDA),
         was proposed in the Union Budget 2024 -2025. It allows contribution by parents/guardians for the minor until they turn
         adults. On attaining the age of 18, the individual can convert it into a normal NPS account.
         ICICI Bank’s announcement of this scheme is a part of the government’s formal launch across the country by Honourable
         Finance Minister Smt. Nirmala Sitharaman in New Delhi today.
         Mr. Sriram H., Head – Deposit Products, ICICI Bank said, “We are delighted to be part of the NPS Vatsalya launch scheme
         with the Government of India and PFRDA. We have begun this journey by opening our first set of NPS Vatsalya accounts
         today. We have equipped all ICICI Bank business centres across the country to open the NPS Vatsalya account for
         customers. This account helps in long-term wealth creation, ensuring that by the time the minor becomes an adult,
         there is a financial corpus in place for them."
         ICICI Bank inaugurated the commencement of the scheme by registering accounts of a few children under NPS Vatsalya.
         They also received a symbolic Permanent Retirement Account Number (PRAN) card for their NPS Vatsalya account.

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