Dhanlaxmi Bank Does a Do the New in Banking

I came across this interesting article and wanted to fortune it you along with my inference. I look forward to your comments and will mete turn out more such articles. Dhanlaxmi Bank, a Kerala based private coast has recently announced the launch of Credit Cards in India. The peak come in the Gold and Platinum variants, in the first place targeted at premium customers (income above 6 lakhs INR per annum for Platinum Cards). Whats special about this card is that it offers a Pay by Transaction billing mode which gives the customer a 45 day credit period for every transaction make using the card - an industry first initiative in India. This feature comes over and above routine card offers like cash backs on select categories of retail spends, priority pass, concierge function etc. Is this the new face of Credit Card pains? Credit card users no longer need to spare tabs on their billing cycle and plan their purchases. This is an innovative go from Dhanlaxmi Bank during times when most of the Banks are facing challenges on cleaning up their portfolio amidst mounting losses.

This initiative is worth a mention just because of the fact that they have rolled out something new to benefit customers when almost all banks are aspect at various avenues to impose charges and fees to their existing customer portfolio to affix revenue and profitability (increase of late payment charges, reducing the nurture of Rewards points, levy of Rewards redemption fees to name a few). This feature has the proneness to turn the way many banks operate their credit cards business a la Do the New that is turning around Telecom companies. However, like in any product, this is not a bed full of roses to customers. Customers will be aerated an annual fee to be paid on the card this when most banks offer their Classic & Gold variants free of monetary value to customers. This is not all, we need to wait and watch how Dhanlaxmi Bank is qualifying to make life simpler for customers to repay for these... If you want to get a full essay, order it on our website: Orderessay

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