Axis Bank to issue biodegradable prepaid gift cards

Axis Bank Ltd has announced biodegradable prepaid gift cards on the occasion of World Environment Day (05th June).

With this, the bank has become the first to introduce biodegradable cards in the country. The card has the look and feel of regular plastic cards and can be used in PoS terminals and ATMs. Biodegradable cards can also be recycled. 
Static Takeaways for IBPS PO Exam-
  • According to a circular issued by the Reserve Bank of India on 1 July 2014, the maximum validity of pre-paid gift instruments is three years.
  • Shikha Sharma is the MD and CEO of Axis Bank.
  • Headquarter of Axis bank is in Mumbai.
Source- The Hindu

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