A special gift for women

Axis Bank, India’s third largest private sector bank, has launched a new product — designed specifically for the 15 crore women homemakers in the country. They are a distinct consumer segment, and play a key role in making financial decisions in their households. This is a large segment for which no bank currently has any specialised product/offering.
The bank is launching the ‘Ladies First Card’, on which husbands can load an amount equal to their household expenditure each month.The lady of the house can either withdraw the cash through ATMs or swipe her card to pay for her shopping. She gets a host of deals and offers on the card while shopping and earns an interest of four per cent on all the savings. It also comes with a Spends Tracker that allows users to track their monthly expenses better.
The launch event was held recently at the Growel Mall, Kandivali, and attended by senior officials of the bank. The card was launched in front of couples. A small lighthearted skit was performed, which aptly showcased the day-to-day life of a middle-class family and how the Ladies First Card would help a homemaker manage her household in a smarter way. Also present at the event was President, Axis Bank, S K Mitra.
Manisha Lath Gupta, Chief Marketing Officer at Axis Bank, said, “We spent a lot of time and effort understanding this consumer segment in order to bring a financial product that suits their needs. Homemakers run their homes on cash and have little involvement with savings accounts. Their needs are more related to shopping, easy cash withdrawal and a safe place to save their extra money. The Ladies First card does exactly that.”