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LIC Cards Services Limited (LIC CSL) launched a contactless prepaid Gift Card – ‘Shagun’ in collaboration with IDBI Bank on RuPay platform. This card in the initial phase will be available to LIC and its subsidiaries/associates for official use.

The purpose of this card is to expand the Gift Card market with an intent to promote cashless ways of gifting with a wide range of end-use choices.

Rakesh Sharma, MD and CEO, IDBI Bank said, “In continuum with our on-going business synergies with LIC, we are glad to also have NPCI and LIC Cards Services Ltd as partners on-boarded for this initiative. This product has been curated keeping in mind the distinct privileges for the cardholders as well as the convenience of the contactless payment feature.”

Dilip Asbe, MD and CEO, NPCI said, “We look forward to continued collaboration with LIC CSL and IDBI Bank to take this product to the masses in coming months and further strengthen our customer base.”

The card gets auto-linked to a feature-rich mobile app ‘m-passbook’ giving real-time access to transaction history, card balance, etc. In addition, a dedicated in-house customer support team will be available 24x7 for any customer grievance.


What are the benefits of the card:

  • The card will be used to facilitate awards and special rewards during official conferences/ functions.

  • The Shagun Gift Card offers flexible loading of any amount ranging from Rs 500 to Rs 10,000.

  • A customer can perform multiple transactions within the validity of 3 years using this card.

  • The Shagun Gift card can be used at millions of merchant outlets and e-commerce websites in India.

  • Purchase can be made by various merchant locations including departmental stores, petrol pumps, restaurants, jewelry stores, apparel stores, etc. They can also shop online, pay utility bills, book tickets for air, rail, bus, and so on through various mobile wallets and e-commerce portals or apps using this card.

  • The cardholders just need to tap their contactless Shagun Gift Card at the contactless Point of Sale (PoS) terminal and make contactless payments without having to enter the PIN for purchases up to Rs 5, 000.