- Q. - Which bank has become the first Indian bank to launch bio-degradable prepaid gift cards?
Description Of This Question
Axis Bank has become the first Indian bank to launch a bio-degradable prepaid gift plastic card to offer its customers a simple way of contributing towards environment-friendly payment solutions. The plastic card is made up of Polyethylene Terephthalate Glycol (PETG) and can decompose easily and can also be recycled. The cards will be acceptable at all domestic merchant outlets and online portals. According to a circular issued by the Reserve Bank of India (RBI) on 1 July 2014, the maximum validity of pre-paid gift instruments is 3 years.
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